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Veryfi Reports 750% Year-Over-Year Growth in AI-Driven Intelligent Document Processing Platform Use

Veryfi | August 17, 2022 | Read time : 02:00 min

Veryfi
Veryfi, using artificial intelligence (AI) technology to instantly transform documents into structured data, today announced that the company has seen 750% year-over-year growth in the Veryfi OCR API Platform usage. This follows a successful Intelligent Automation Week event in Chicago, where Veryfi announced its momentum in powering the world’s leading finance, ERP (enterprise resource planning), and accounting software providers.

The growth of Veryfi’s OCR API Platform usage signals that companies are seeing better time-to-value with Intelligent Document Processing (IDP), rather than Robotic Process Automation (RPA) alone. Additionally, IDP solutions with pre-trained AI outperform home-grown solutions built using commodity OCR and AI tooling, in terms of accuracy and time-to-value. IDP delivers the most accurate data extraction technology, providing the fastest time to value and greatest efficiency. Over the past five years, Veryfi’s AI-Driven OCR API Platform with Day 1 Accuracy* was pre-trained on hundreds of millions of documents of all types, for 85 currencies, 39 languages, and 110 data fields.

“Our AI-driven IDP solution is the first to promise Day 1 Accuracy with no humans in the loop, and our customers’ growing trust in our platform is a clear sign that we’re living up to that promise. “We’re absolutely thrilled that our customers are joining us on our mission to eliminate manual data entry, and are seeing increased efficiency, revenue, and time to value, starting on Day 1, with our platform.”

Ernest Semerda, co-founder and CEO of Veryfi

RPA isn’t an out-of-the-box AI solution; as a standalone solution, it requires implementation and training that dramatically delays a business' time to value. When RPA is coupled with Veryfi IDP, however, customers benefit from pre-trained AI that delivers Day 1 Accuracy and perfectly complements the enhanced automation capabilities of RPA solutions. With Veryfi, enterprises can accelerate financial document processing by 200 times, with significantly fewer errors than humans can achieve, and companies can more effectively comply with the increasing number of international security and privacy regulations.

According to the Everest Group, “Many organizations are devoting more financial and human resources to deploy intelligent document processing capabilities. Success by forward-looking organizations is driving confidence in a market expected to grow 70-80% over the next two years to US $1.1 billion.”

By eliminating manual data entry, Veryfi enables organizations to accurately capture, extract and transform documents such as receipts, invoices, purchase orders, checks, credit cards, and W-9 forms into structured data, at scale. Veryfi uses advanced AI/ML technology, trained by hundreds of millions of documents over the past four years, to extract data and transform it into a structured format for 85 currencies, 39 languages, and 110 defined fields such as vendor, total, bill to/ship to, purchase order and invoice numbers, any line item (product name, SKU, description), taxes, and more, which can then be accessed for a wide variety of business applications.

About Veryfi
Veryfi empowers organizations to capture, extract and transform unstructured documents including receipts, invoices, purchase orders, checks, credit cards, and W-2s into structured data at scale. The company’s technology reduces or eliminates manual data entry and unlocks valuable business intelligence in seconds. Trusted by enterprises and software companies alike, Veryfi’s AI-driven platform delivers fast, accurate, and secure data to hundreds of companies globally.

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Data is what makes the digital customer experience smarter, it’s what makes it personal, and it differentiates between an unknown tire kicker and a life-long, loyal customer.


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SOFTWARE

Nextech AR Launches WooCommerce App Marking a Major Expansion for ARitize 3D and its Web 3.0 Offerings

Nextech AR | July 07, 2022

Nextech AR Solutions Corp. , a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and services is pleased to announce the Company's ARitize 3D WooCommerce app is now live and available. With this app going live, Nextech AR’s ARitize 3D SaaS offering for ecommerce extends the Company's 3D model creation services to WooCommerce merchants. This is a major expansion opportunity for Nextech AR’s ARitize 3D model making business for ecommerce as WooCommerce powers approximately 30% of all online stores. “The launch of the WooCommerce app is a major milestone for Nextech AR and our ARitize 3D modeling solution. The WooCommerce integration provides the Company with another major distribution channel, and allows our ground-breaking technology to be placed in front of millions of additional ecommerce merchants. Our ARitize 3D offering has experienced strong growth in the first half of 2022, and with this new product launch we expect an acceleration in Q3 and Q4 as the ecommerce industry shifts to Web 3.0 and emerging digital technologies.” He continued, “We have already integrated with Shopify and BigCommerce earlier this year, and with the addition of WooCommerce we are positioning ourselves to be the 3D model supplier for the entire ecommerce ecosystem, which is massive. The positioning of these apps on these major ecommerce platforms will allow Nextech AR to be front and center as the global demand for 3D and AR solutions expands.” Nextech AR CEO Evan Gappelberg Nextech AR already powers some of the world's most successful B2C and B2B brands, and has what it believes is the most powerful, scalable, AI powered 3D/AR technology in the market. The Company is already working with large retailers including Kohl’s, Lighting Plus New Zealand, Pier 1, Kmart Australia, CB2, NAPA Auto Parts, Crate and Barrel, Habitt Furniture, Surplus Furniture, Staubli, William Wood Design, Kindred Custom Snowboards, Decor Metal, MGI Golf, Artika, Spinel, Salamander Paddle Gear, Head, Bleems, Spotlight Solar, Artography and more. Through these retailers, thousands of 3D models are being shown to tens of thousands of consumers. With the new launch of this low cost 3D modeling self-serve app with WooCommerce, the Company believes that it will continue to expand its reach to small and medium sized ecommerce websites. With this powerful new app launch, Nextech now seamlessly provides WooCommerce merchants with the software needed to generate as much as a 94% increase in click through rates and a 40% reduction in returns online, with a frictionless one click integration for 3D model making. Nextech AR’s ARitize 3D has already been integrated with Shopify and BigCommerce earlier this year. As demand for 3D models rises exponentially, the Company also plans to integrate with other ecommerce platforms, continuing to rollout its third party SaaS integration and providing its ARitize 3D modeling solution to millions of ecommerce merchants globally. The app will provide self-serve access to Nextech’s proprietary AI-powered solution for 3D/AR ecommerce to all businesses who use WooCommerce to power their ecommerce business. Implementing 3D/AR has already proven many benefits to ecommerce businesses, including increased engagement, increased conversions and reduced returns. ARitize 3D makes the adoption of 3D/AR simple, convenient and affordable for WooCommerce merchants, with the ability to subscribe and manage the app themselves from their WooCommerce merchant account. Nextech’s pricing plans are much more affordable than other 3D modeling service providers, purchasing expensive equipment or hiring artists for individual models. The Company believes that this is the AR industry's first true self-service AR SaaS platform which offers scalability, affordability, ease of use, and high quality 3D/AR models. With Nextech AR’s artificial intelligence powered technology now integrated with WooCommerce, any merchant can create 3D/AR models in 3 simple steps. Install the ARitize 3D Marketplace App Initiate the creation of 3D models of your products Publish engaging 3D models on product pages With ARitize 3D, WooCommerce businesses can transform their ecommerce stores into dynamic virtual 3D showrooms, allow customers to see products from every angle and position them using AR to visualize them in their own space prior to purchasing. This is an exciting, immersive shopping experience that keeps customers more engaged, better informed and helps brands stand out from their competition. About ARitize 3D ARitize 3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images into high-quality 3D and Augmented Reality experiences. It's fast, it's easy and it will transform your ecommerce website! 3D content creation is included in monthly hosting fees. Our AI powered platform is a game changer! What can 3D/AR do for you? Increase conversions, reduce product returns, increase customer engagement, and attract more customers.

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SOFTWARE

Visonify.ai Strongarms its AI Engineers with Microsoft Azure Certification Courses

Visonify.ai | July 01, 2022

Visionify.ai, a Denver-based technology company that specializes in Machine Learning and Computer Vision services, has provided Azure Certification courses for all its Computer Vision and Machine Learning engineers. Part of Visionify's upskilling program, this fully sponsored Azure Certification course will now enable Visionify's AI engineers to leverage cloud services in machine learning solutions. The Microsoft Azure Certification courses on AI-900 began in April 2022. Since then, several of the company's engineering resources have undergone Azure training and successfully completed the AI-900 tests. Visionify understands that AI and ML, with Azure at their center, are the present and future of technology. By having Azure certified AI and ML engineers, the company will be able to boost productivity in terms of building automated ML pipelines and deploying solutions on the go. Visionify is fully aware of the ever-changing technological landscape and believes it is imperative to upskill its employees through these training programs. "Azure is one of the leading platforms that is making considerable advances in the AI and ML field. Accessibility to a cutting-edge model and ease of deployment makes Azure a better choice for us to serve our customers. Azure certification will not only help us upskill our employees but also help us with our resolve to become the best AI and ML consulting companies in the world." Priyesh Sanghvi, CEO of Visionify.ai A certificate in Azure is a clear indication of an individual's skills and its employer's scope of offerings. The certification requires all participants to pass an exam that tests individuals' AI-Cloud abilities/skills including AI-workloads, ML, Computer Vision and NLP workloads. This certification is not just a big boost for Visionify but also an upgrade for the employees' careers as well. Visioniy.ai has been providing AI-related technological services like Staff Augmentation and Project/Roadmap execution to companies building AI-based products. Our expert team has built and deployed over a hundred AI/ML/CV-based solutions across industries.

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AI TECH,GENERAL AI

Run:ai Certified to Run NVIDIA AI Enterprise Software Suite

Run:ai | September 22, 2022

Run:ai, the leader in compute orchestration for AI workloads, today announced that its Atlas Platform is certified to run NVIDIA AI Enterprise, an end-to-end, cloud-native suite of AI and data analytics software that is optimized to enable any organization to use AI. "The certification of Run:AI Atlas for NVIDIA AI Enterprise will help data scientists run their AI workloads most efficiently. "Our mission is to speed up AI and get more models into production, and NVIDIA has been working closely with us to help achieve that goal." Omri Geller, CEO and co-founder of Run:ai With many companies now operating advanced machine learning technology and running bigger models on more hardware, demand for AI computing chips continues to grow. GPUs are indispensable for running AI applications, and companies are turning to software to reap the most benefit from their AI infrastructure and get models to market faster. The Run:ai Atlas Platform uses a smart Kubernetes Scheduler and software-based Fractional GPU technology to provide AI practitioners seamless access to multiple GPUs, multiple GPU nodes, or fractions of a single GPU. This enables teams to match the right amount of computing power to the needs of every AI workload, so they can get more done on the same chips. With these capabilities, Run:ai's Atlas Platform lets enterprises maximize the efficiency of their infrastructure, avoiding a scenario where GPUs sit idle or use only a small amount of their power. "Enterprises across industries are turning to AI to power the breakthroughs that will help improve customer service, boost sales and optimize operations," said Justin Boitano, vice president of enterprise and edge computing at NVIDIA. "Run:ai's certification for NVIDIA AI Enterprise provides customers with an integrated, cloud-native platform for deploying AI workflows with MLOps management capabilities." Run:ai creates fractional GPUs as virtual ones within available GPU framebuffer memory and compute space. These fractional GPUs can be accessed by containers, enabling different workloads to run in these containers — in parallel and on the same GPU. Run:ai works well on VMware vSphere and bare metal servers, and supports various distributions of Kubernetes. This certification is the latest in a series of Run:ai's collaborations with NVIDIA. In March, Run:ai completed a proof of concept which enabled multi-cloud GPU flexibility for companies using NVIDIA GPUs in the cloud. This was followed by the company fully integrating NVIDIA Triton Inference Server. And in June, Run:ai worked with Weights & Biases and NVIDIA to gain access to NVIDIA-accelerated computing resources orchestrated by Run:ai's Atlas Platform. About Run:ai Run:ai's Atlas Platform brings cloud-like simplicity to AI resource management - providing researchers with on-demand access to pooled resources for any AI workload. An innovative cloud-native operating system - which includes a workload-aware scheduler and an abstraction layer - helps IT simplify AI implementation, increase team productivity, and gain full utilization of expensive GPUs. Using Run:ai, companies streamline development, management, and scaling of AI applications across any infrastructure, including on-premises, edge and cloud.

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SOFTWARE,FUTURE TECH

Kapture CRM appoints Pavit Ponnanna as Head of CX (Customer Experience)

Kapture CRM | September 23, 2022

The Kapture team is pleased to announce that Pavit Ponnanna will be stepping into the position of Head of CX (Customer Experience). With cross-functional experience of 21+ years in customer services, operations management, Pavit's strength is customer experience and brings a deep understanding of the CX landscape. Pavit will play an instrumental role in accelerating CX for Kapture. Commenting on his appointment, Vikas Garg: CTO & Co-founder, Kapture, said," We are delighted to have Pavit Ponnanna join us as our Head of Customer Experience. The last few years have been incredible for us and we have witnessed exponential growth across geographies. Our focus is now to evolve into a more structured organisation that's prepared for the planned growth in the coming years. Having Pavit is going to be a big help in this journey." “I am very excited about joining such a competent and capable team. Kapture has been very successful in combining industrial technology with digital solutions and has become a frontrunner in providing a Customer Support Automation platform that provides businesses across industries with all-in-one customer service software. I am certainly looking forward to developing the company further with a clear industrial ambition to change the future of CX,“ said Pavit Ponnanna. About KaptureCRM Kapture, a Customer Relationship Management (CRM) software firm, was established in 2015, on the simple idea of providing a smarter way for businesses to manage customer relationships through a single automated platform. Simply put, their goal is to organise customer information and make it contextually and instantly accessible to all end users at any given time. Keeping customer experience at the forefront of it all.

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