Google Cloud’s machine learning-powered Document AI platform — which already has been used to process tens of billions of pages of documents for government agencies and the lending and insurance industries among others — became generally available last week, along with Lending DocAI and Procurement DocAI.
The serverless Document AI platform is a unified console for document processing that allows users to quickly access Google Cloud’s form, table and invoice parsers, tools and offerings — including Procurement DocAI and Lending DocAI — with a unified API. It uses artificial intelligence/machine learning (AI/ML) to classify, extract and enrich data from scanned and digital documents at scale, including structured data from unstructured documents, making it easier to understand and analyze.
Doc AI solutions feature Google technologies including computer vision, optical character recognition and natural language processing, which create pre-trained models for high-value and -volume documents, and Google Knowledge Graph to validate and enhance fields in documents.
Research and advisory firm Gartner predicts AI will be the top category that determines IT infrastructure decisions by 2025, driving a tenfold growth in compute requirements. Half of all enterprises will have AI orchestration platforms by 2025 to operationalize AI, according to Gartner, up from less than 10 percent in 2020.
Google Cloud’s industry-specific Lending DocAI is designed to reduce the time – from weeks to days — and cost of closing loans for the mortgage industry by automating mortgage document processing. It processes borrowers’ income and asset documents using specialized ML models and now has more specialized parsers for documents including paystubs and bank statements.
Procurement DocAI enables companies to automate procurement data capture at scale, turning unstructured documents such as invoices and receipts into structured data. Google Cloud recently added a utility parser for electric, water and other bills.
The new specialized parsers for Lending and Procurement DocAI can be used with Google Cloud’s AutoML Text & Document Classification and AutoML Document Extraction services.
Google Cloud also is adding Human-in-the-Loop AI, a new DocAI feature that enables human verification and corrections to help customers get higher document processing accuracy before data is used in critical business applications.
Here’s a look at nine other cloud AI services and tools.