Lazarus AI, a Cambridge MA-based doc understanding firm, acquired an funding from WaveFx, a New Bedford, MA primarily based founding partnership firm.
The quantity of the deal was not disclosed.
The corporate intends to make use of the funds to develop operations and its improvement efforts.
Lazarus AI builds explainable AI methods to assist resolve knowledge challenges with Optical Character Recognition (OCR) expertise mixed with their new, proprietary language mannequin, RikAI-2. This mannequin processes knowledge from numerous codecs corresponding to PDFs and pictures in industries together with healthcare, insurance coverage, regulation and monetary providers. Key options embrace:
- Information extraction
- Summarization
- Classification
- Reasoning
It even handles difficult inputs like unstructured knowledge and doctor handwriting.
The API-only service streamlines knowledge processes for numerous paperwork and pictures. For instance, its AI expertise has diminished the timeline for reviewing and approving a incapacity declare from three weeks to half-hour.
FinSMEs
22/08/2024
