NEW BEDFORD & CAMBRIDGE, Mass.--(BUSINESS WIRE)--WaveFx, a New Bedford, MA based founding partnership company has announced an early investment in Lazarus AI, a cutting-edge document understanding company in Cambridge, MA. This strategic investment includes an end-to-end operational model featuring efficient, scalable workflows tailored for Lazarus AI’s business objectives.
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Lazarus AI’s mission is to tackle the world’s toughest data challenges with powerful Optical Character Recognition (OCR) technology combined with their new, proprietary language model, RikAI-2. This model processes data from various formats such as PDFs and images in industries including healthcare, insurance, law and financial services. Key features include:
- Data extraction
- Summarization
- Classification
- Reasoning
It even handles challenging inputs like unstructured data and physician handwriting.
The API-only service streamlines data processes for various documents and images, promising rapid time-to-value for clients without requiring asset restructuring. For example, Lazarus AI’s technology has dramatically reduced the timeline for reviewing and approving a disability claim from three weeks to 30 minutes.
“Teaming up with Lazarus AI is a really cool endeavor,” says Al Peters, Founder of WaveFx. “We’re focused on collaborating with founders who are pioneering innovative technologies to solve difficult problems that matter to society. We will be supporting the team in their company building process and scale.”
“Working with Lazarus means getting access to a team that understands the technology and enterprise workflow. We’ve found that for companies that want to get immediate value through AI, we’re able to have some quick conversations and recommend the best path forward,” says Kevin Lo, Chief Design Officer at Lazarus AI.
“Lazarus AI’s technology is saving time, effort and financial resources across various industries. We’re thrilled to be on their founders’ journey with them,” says Al.
About WaveFx
WaveFx provides strategic support and flexible funding to purpose-driven founders who are changing the world in technology, healthcare, energy, manufacturing and hospitality. Learn more at www.wavefx.com.
About Lazarus AI
Lazarus AI builds explainable AI systems to help solve the world’s most challenging problems. Learn more at www.lazarusforms.com.
