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Newgen Unveils new AI and ML-based Document Classification Service

Posted On: 2020-06-04 15:12:29


Newgen Software, a global provider of low code digital automation platform for managing content, processes, and communication announced that it has launched an enhanced version of its document classification service for enabling the high-volume document-handling environment.

The newly launched - Intelligent Document Classifier 1.0 allows users to gain hidden insights by classifying documents, based on structural features and/or textual features. It uses the new-age technologies, machine learning (ML) and artificial intelligence (AI), to enable layout- and content-based document classification.

Organizations can leverage the solution to automatically classify various documents such as sales/purchase orders, enrolment and claim forms, legal documents, mailroom documents, contracts, correspondences, and others. This ensures that important information is easily available thereby eliminating risks and costs associated with manual document management.

"Our new document classification service allows businesses to process volumes of unstructured data and uncover hidden insights. It is powered with AI and ML for better compliance, smarter decision making, improved efficiency, and enhanced customer experience," said Diwakar Nigam, MD and Chairman, Newgen Software.

Key features of the new version include:

- Image Classification - Allows users to automatically classify images using neural networks and deep learning algorithms based on structural features

- Content Classification - Enables document classification based on content, in the absence of structural features

- Trainable Machine Learning - Auto-learns definitions and features of a document class and creates a trained model

- Admin Dashboard - Generates analytics reports for a 360-degree view of the process

- Integration Capabilities - Facilitates easy integration with core business applications, content management platforms, and document capture applications

Shares of Newgen Software Technologies Ltd was last trading in BSE at Rs.146 as compared to the previous close of Rs. 146.65. The total number of shares traded during the day was 2420 in over 75 trades.

The stock hit an intraday high of Rs. 152.25 and intraday low of 146. The net turnover during the day was Rs. 358560.


Source: Equity Bulls

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