NEW YORK & LONDON--(BUSINESS WIRE)--Eigen Technologies (Eigen), the global intelligent document processing (IDP) provider, today announced that it has been selected as winner of the “Best Overall Natural Language Processing (NLP) Company” award in the fifth annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial Intelligence (AI) market today. Eigen, a pioneer of the small data approach to AI, was selected for this award from a field of over 2,950 entries that included the world’s top AI companies.
Eigen is a no-code user-friendly AI platform that combines cutting-edge NLP and object detection engines with superior machine learning techniques. The platform delivers intelligent data extraction and document processing with its proprietary machine learning technology. The highly accurate results span a wide range of document types and data formats.
Eigen’s proprietary technology approach uses “small-data AI” that allows the Eigen platform to be trained on between 2 to 50 documents, rather than the thousands or more that it takes with a traditional approach. Users have the ability to train these small data sets, enabling a much higher degree of accuracy and specificity,
Additionally, the platform offers open-ended integrations with a suite of APIs that make it easy to scale across functions.
“We’re thrilled to win an AI Breakthrough Award as Eigen’s technology is now central to the digital transformation and automation programs enacted by large firms the world over,” said Dr. Lewis Z. Liu, Co-Founder & CEO, Eigen Technologies. “In the last year, Eigen’s technology has been used to maintain the stability of the global financial system and is deployed with 40% of the world’s most important banks. Over the last few years, we have successfully moved beyond finance into insurance and other sectors, demonstrating the flexibility of both our small data AI approach and our platform. We will continue to innovate so that our customers reap the benefits of AI-powered NLP and can analyze data faster and more accurately.”
The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of AI and machine learning related categories, including AI platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry specific AI applications and many more. This year’s program attracted more than 2,950 nominations from over 18 different countries throughout the world.
“Access to the right data at the right time can be the difference between failure and success and the ability to transform data into actionable insights, regardless of source - is the most powerful way organizations can make better-informed decisions that drive the best outcomes for their people, customers and investors,” said James Johnson, managing director, AI Breakthrough. “Eigen is a pioneering innovator of the small data approach, which is distinct from the neural network approach that has dominated over recent decades. Their AI-powered NLP looks to spearhead the digital transformation in a number of industries, and we are proud to recognize the Company on their success and momentum. Congratulations to the entire Eigen team on a well-deserved 2022 AI Breakthrough Award.”
The Company’s proprietary technology approach also transcends privacy concerns because users do not need to share data or models with any external parties. As such, Eigen allows for straight-through processing of complex legal and financial questions on complex legal/financial documents to be sent to regulators such as the Federal Reserve and FDIC.
About Eigen Technologies
Eigen is an intelligent document processing (IDP) company that enables its clients to quickly and precisely extract answers from their documents, so they can better manage risk, scale operations, automate processes and navigate dynamic regulatory environments.
Eigen’s customizable, no-code AI-powered platform uses machine learning to automate the extraction of answers from documents and can be applied to a wide variety of use cases. It understands context and delivers better accuracy on far fewer training documents, while protecting the security of clients’ data.
Our clients include some of the best-known and respected names in finance, insurance, law and professional services, including Goldman Sachs, ING, Swiss Re, BlackRock, Aviva and Allen & Overy. Almost half of all global systemically important banks (G-SIBs) use Eigen to overcome their document and data challenges. Eigen is backed by Goldman Sachs, Temasek, Lakestar, Dawn Capital, ING Ventures, Anthemis and the Sony Innovation Fund by IGV.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Vision, Biometrics and more. For more information visit AIBreakthroughAwards.com.
