Introducing Document Information Extraction Premium Edition – Unleashing the Power of Large Language Models and Generative AI
Foundation Models, a technological breakthrough in AI, have ushered in a new paradigm with disruptive capabilities. The rise of applications like ChatGPT, built on these foundational models, has rapidly caught the world’s attention. Particularly in the context of intelligent document processing (IDP) it allows to extend the pre-defined capabilities with emerging capabilities that have been either unforeseen or very difficult to implement.
Today, we are thrilled to announce the upcoming new version of our product lineup for IDP: Document Information Extraction, premium edition. It will be a groundbreaking addition to our software suite that is set to revolutionize the way businesses extract valuable insights from unstructured data. With the power of Large Language Models (LLMs) and Generative AI (GenAI), the premium edition will unlock a whole new level of capabilities, enabling organizations to streamline their operations and further increase their process-related efficiency. The premium features planned in the new edition will encompass:
Schema-based Extraction of Unstructured Data
Gone are the days of laborious annotation and template creation. The premium edition will offer a schema-based extraction of unstructured data by leveraging the unprecedented capabilities of LLMs. With a simple description of required fields, the solution will automatically extract and organize data, eliminating the need for manual intervention and drastically reducing time-to-value.
Extended Language Support
In an increasingly interconnected world, language barriers should never hinder adoption. That’s why we will introduce extended language support for over 40 languages. Businesses will be able to effortlessly extract information from documents written in different languages, enabling faster go-to-market strategies, and expanding global coverage of their IDP functions.
Extensions of SAP Standard Schemas
To cater to the diverse needs of our customers, the premium edition will extend the support for SAP Standard Schemas. This enhancement will allow for a seamless integration with SAP systems and their data models, providing quick extensibility and higher business value.
The premium edition comes with immediate improvements in accuracy based on feedback data from users. By harnessing the power of LLMs and GenAI, the solution will ensure better accuracy in data extraction, minimizing errors and maximizing the reliability of extracted information. This will lead to higher automation rates and hence, greater operational efficiency and productivity.
The benefits of Document Information Extraction, premium edition are far-reaching. By drastically reducing time-to-value, businesses will be able to quickly extract insights from unstructured data. With the global coverage and faster go-to-market strategies, companies can stay ahead of the competition. Additionally, the quick extensibility and higher business value provide a solid foundation for further growth and innovation.
We are excited to announce that the planned release date for Document Information Extraction, premium edition is set for the end of Q1 2024. Our dedicated teams are working to ensure a seamless and robust product experience that meets the evolving needs of our stakeholders and customers.
To give you a sneak preview of the remarkable capabilities of our upcoming release, we have prepared a demo video. Please note that the intellectual property belongs to SAP and the content is copyrighted. We kindly remind you that everything described in this blog post is not a commitment and is subject to change. You can watch the demo video here:
Stay tuned for more updates and announcements as we approach the release date.
Read more about the news of Document Information Extraction on the help portal!
What is Document Information Extraction?
Document Information Extraction is one of the SAP AI Business Services on the SAP Business Technology Platform (SAP BTP). This ML-enabled service is available through the Cloud Platform Enterprise Agreement (CPEA) and also in the Pay-As-You-Go (PAYGO) model.
Tutorials & Learnings
- Simplify Business Document Processing with SAP AI Business Services
- Free Tier Option for Document Information Extraction
- Business document processing through standard SAP integration
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