Boston-based Indico has launched what it says is the first platform specifically focused on automating and applying unstructured data into enterprise workflows. The company had been working in beta with organizations including MetLife, Cushman & Wakefield and Chatham Financial, but has now made the platform generally available.
Indico has been focused on automating document-based workflows that incorporate unstructured data since it was founded in 2014. Some estimates calculate that 85 percent of an organization’s data could exist in unstructured formats (e.g., texts, CSV, video and audio files, PDF, contracts, emails, etc.), making it very difficult to use in automated processes.
“Extracting value from unstructured data is a significant business challenge, because traditional automation and analytics solutions cannot access it without thousands of hours of human time to code, structure, classify, and analyze,” said Tom Wilde, CEO of Indico Data. “In a time when digital transformation needs to happen at warp speed, our platform ensures customers can keep pace and capitalize on the value trapped in unstructured data. And, we help them do it in just a few days.”
The platform uses a “human AI and machine teaching” approach that enables businesses to address unstructured data unlike rules- or template-based approaches that can’t easily handle unstructured inputs without breaking.