Ocrolus integrates OpenAI GPT embeddings to streamline document automation for financial services companies

As financial services companies aim to increase lending volumes and reduce loan processing times, the need for automation tools has never been more pressing. Automation can help companies scale quickly, reduce costs, and improve accuracy. However, automating document processing has been challenging due to the wide range of document types and formats, as well as the complexity of the information contained within them.

To overcome these challenges, Ocrolus has integrated GPT embeddings from OpenAI into its set of technologies. This move will strengthen Ocrolus’s ability to process semi-structured and unstructured documents without requiring human intervention.

OpenAI’s GPT embeddings enhance Ocrolus’ document processing capabilities

The addition of OpenAI GPT embeddings to Ocrolus’ technology set will significantly improve the platform’s ability to process semi-structured and unstructured documents. GPT-3, OpenAI’s flagship language model, has the ability to parse natural language and make predictions based on context. This makes it highly effective in identifying relevant information within documents, even when they are poorly structured or contain errors.

With this integration, Ocrolus’ document automation platform will be able to extract relevant data from a wider range of documents, including loan applications, tax forms, and paystubs. This will substantially reduce the need for manual entry, which has been a significant barrier to automation in the past.

Powerful document automation using AI from across the industry

Ocrolus’ document automation platform combines state-of-the-art AI from across the industry within a single solution. In addition to OpenAI’s GPT embeddings, the platform includes subsystems from Amazon, Google, and Ocrolus’ own proprietary deep learning architectures. These models are enabled by the company’s massive document dataset, built by processing hundreds of millions of document pages.

The platform’s unique ability to create accurate training data in-house helps to constantly improve its algorithms. Ocrolus trains its models on various document types and formats, ensuring that its algorithms are effective across a range of use cases. For example, the platform’s document classification algorithms can accurately identify over 95% of document types, making it a highly versatile automation solution.

Efficient Document Automation for Ocrolus’ Customers

The integration of OpenAI’s GPT embeddings will lead to even more efficient document automation for Ocrolus customers. By automating the extraction of relevant data, financial service companies will be able to process more loans with greater speed and accuracy. This will enable lenders to deliver a better experience to borrowers who will be able to access credit faster and on better terms.

Potential applications for Ocrolus’ document automation platform extend beyond traditional lending use cases. The platform is well-suited to processing a range of document types across a variety of industries, including healthcare, insurance, and legal services.

Demonstration of Ocrolus’ AI-driven automation technology

Ocrolus will demonstrate its AI-driven document automation technology at booth #343 during Fintech Nexus USA 2023. The event will take place at the Javits Center in New York City on May 10-11.

Financial services companies that are looking to streamline loan processing while maintaining data accuracy will benefit significantly from attending the demonstration. Ocrolus enables these companies to make high-quality decisions with accurate data, which helps borrowers access credit faster and on better terms.

The integration of OpenAI’s GPT embeddings into Ocrolus’ technology is a significant milestone for the document automation space. By combining cutting-edge AI from across the industry within a single solution, Ocrolus has created a platform that is highly effective in processing a wide range of document types and formats. The integration of GPT-3’s language modeling capabilities will enable Ocrolus’ platform to extract relevant data from even the most complex documents, without human intervention. As a result, financial services companies will be able to process more loans with greater speed and accuracy, helping borrowers access credit faster and on better terms.

Explore more

Align CX and Marketing to Drive Business Growth

Introduction The most compelling marketing campaign can be instantly undone by a single poor customer service interaction, revealing a critical disconnect at the heart of many modern businesses. While marketing teams work to build a brand promise, customer experience (CX) teams deal with the reality of that promise every day. This gap between expectation and reality can erode trust and

Trend Analysis: AI-Powered Feedback Analysis

The modern marketplace generates a relentless torrent of customer feedback, a valuable resource that paradoxically drowns most organizations in a sea of unstructured data they cannot navigate. From survey responses and support tickets to app store reviews and social media comments, this flood of qualitative information holds the key to customer satisfaction, yet its sheer volume makes manual analysis an

How Customer Experience Builds Brand Equity

The long-held belief that brand value is forged primarily through clever advertising and massive media spend is rapidly becoming obsolete in a marketplace where consumers hold the ultimate power. Today, a brand’s most significant asset is not what it says about itself, but what customers feel when they interact with it. The sum of these feelings—the customer experience (CX)—has emerged

AI Will Drive CX in 2026, But Trust Will Win Customers

The Dawn of a New CX Era Where Technology Meets Trust As we accelerate toward 2026, the landscape of customer experience is undergoing a seismic shift, driven by the relentless advancement of Artificial Intelligence. AI is no longer a futuristic concept but a foundational element of modern business, set to automate processes, predict needs, and personalize interactions on an unprecedented

How to Create a Standout Online Customer Experience

Despite the increasing sophistication of digital commerce, the overall quality of customer experience in the United States has been trending downward, a concerning development for businesses that rely on digital channels for growth and retention. Recent data indicates a significant disparity, with far more brands experiencing a decline in their customer experience rankings than those seeing improvements. This erosion touches