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First Transform 2019 AI Showcase Highlights Practicality and Privacy

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Venturebeat, July 10, 2019

At the first of three showcases at VentureBeat’s Transform 2019 AI event, five companies — CognitiveScale, Applied Brain Research,, AI Foundry, and D-ID — took the stage to tell their stories and share their latest news.

AI Foundry

AI Foundry is focused on classifying documents, extracting any pertinent data, and inputting that information into a core system of record. Instead of having humans perform this task manually or use current OCR methods, the company wants to save time and reduce errors using AI.

AI Foundry recently built an “Intelligent Process Automation Mortgage Document Library.” The library leverages machine vision to recognize incoming documents with a purported 95% accuracy. Although the tool is specifically for mortgages, AI Foundry hopes to apply the technology to all document-intensive industries.

Since AI Foundry launched its cloud app, it’s secured 10 new customers who have achieved ROI in about six months.

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