ABBYY Launches New Platform for Automating Business Processes
ABBYY today launched ABBYY Vantage, which it says is the first enterprise platform to provide human-like cognitive skills to intelligent automation platforms such as business process automation (BPA) and robotic process automation (RPA).
ABBYY says the new platform can be used by companies in financial services, insurance, transportation, logistics, manufacturing, and other industries. Several customers and consulting partners are participating in the early adopter program, including Merck (MSD), Symphony Ventures, RoboRana, and RPAbox.
Vantage is said to change the way structured and unstructured content is processed using cognitive skills to make digital robots in automation platforms smarter and faster. It provides text recognition, machine learning, and artificial intelligence (AI) in the form of skills to power software robots needed to make intelligent business decisions.
ABBYY also cited a Forrester report, “Predictions 2019: Artificial Intelligence,” which indicates that more than 40 percent of enterprises will create digital workers by combining AI with RPA. The research firm estimates the RPA market will reach $1.7 billion in 2019 and $2.9 billion in 2021.
Vantage is said to address common content-centric pain points such as lengthy set-up and configuration, shortage of training data – requiring skilled experts in areas like machine learning for automating unstructured content – and inability to scale across an enterprise organization, resulting in missed efficiency and cost gains.
The new platform is said to minimize the complexity of processing content such as documents, forms, images, and email communications with a set of cognitive skills that allow digital workers to identify a document, find specific information, understand the content, and route the document, or process the information, based on its content. Core cognitive skills include text recognition, classification, and data extraction coupled with learning, and can be plugged into any type of document workflow.
ABBYY says that advanced cognitive skills can be developed by partners and customers to perform specific tasks unique to a business operation, such as processing a loan application, insurance claim, or bill of lading.
Vantage is said to tightly integrate into leading RPA platforms such as Blue Prism, UiPath, and others. It also can be leveraged by ISVs, System Integrators, BPOs, and IT technology strategists who have a business need to incorporate content IQ skills into their automation platforms.
ABBYY says Vantage is the first product on the market designed to increase the “Content IQ” of the digital workforce by allowing them to quickly and easily understand and process content as part of an overall automation task. These capabilities can for the first time be adopted and scaled across an organization in mass.
Vantage is available now for early adopters and will be generally available in second-quarter 2019 via www.abbyy.com/vantage.
Vantage is a componentized service platform with 100-percent HTML interfaces, therefore requiring no desktop installation.
For more information, visit ABBYY here.
The platform is said to provide a simple pricing and licensing model based on document transaction volume making it easy for business users to quickly determine cost and ROI.
Anthony Macciola, chief innovation officer at ABBYY, commented: “For the first time, enterprises can automate content-based processes without requiring users to be tech experts. ABBYY has revolutionized the way organizations accelerate their digital transformation initiatives by simplifying technologies like AI and data capture. This makes content-centric processes easier to set up and configure with out-of-the-box core skills and advanced cognitive skills that make robots smarter. Vantage delivers the technology as consumable skills that are combined with automation platforms like RPA to accelerate enterprise self-service automation. Organizations can quickly leverage these skills directly in their process automation platform cutting down the time it takes to deploy and realize the benefits. Vantage sets a new bar by simplifying how cognitive skills are designed, deployed, and consumed.”
“Enterprise operations executives are searching for the best approach to get started on the AI automation journey,” commented Sarah Burnett, executive vice president and distinguished analyst at Everest Group. “The advent of RPA opened the eyes of executives that they need AI in addition to RPA technologies to handle both structured and unstructured content. With solutions such as Vantage, ABBYY is addressing this demand for intelligent automation. Vantage will add intelligent skills to RPA to enable organizations to scale automation — more processes and more of each process as well.”