UiPath announced that it has acquired Re:infer, a London-based natural language processing (NLP) company for unstructured documents and communications.
Founded in 2015 by PhD scientists from the AI research lab at University College London, Re:infer uses machine learning (ML) technology to mine context from communication messages and transform them into actionable data with speed and accuracy.
“Automation and AI are a powerful and natural pair that together empower the vision of the fully automated enterprise,” said Ted Kummert, Executive Vice President, Products & Engineering at UiPath. “Our customers are awash in documents, communications, and data that they need to efficiently understand the meaning of and process. Combining Re:infer’s NLP technology with our Document Understanding and AI products expands the breadth of our current AI-powered automation capabilities and unlocks new automation opportunities for our customers.”
“Automating the interpretation of documents and communications data bridges the gap between humans and information technology systems, and structured and unstructured data to supercharge digital transformation efforts in the enterprise,” said Dr Ed Challis, CEO and Co-Founder of Re:infer. “We have spent the last seven years building innovative technology and believe UiPath will take us to another level. We couldn’t be more excited to access UiPath’s power of scale and introduce Re:infer to a new global audience. We are joining the leader in enterprise automation and it’s an incredible day for us.”
Re:infer allows users to deploy custom machine learning models to analyse documents and communications data generated by a typical business each day – data previously lost or ignored due to processing limitations. Their no-code interface allows business users to train their own AI models for greater specificity and flexibility. The self-learning capability continuously improves model accuracy to assist customers in identifying bottlenecks and inefficiencies. Today, this is helping many of the world’s leading enterprises – including large banking, insurance, and e-commerce organisations – scale their services, enhance customer experience, and drive process improvement. This includes Deutsche Bank, Hiscox Ltd., and Farfetch.
“By using UiPath and Re:infer together, we have driven significant business impact through automation, enabling automated cataloguing, triaging, and responding to tens of thousands of email-based requests per month,” said Marco Rodriguez, Head of Automation at Hiscox Ltd. “With UiPath and Re:infer, our insurance brokers get instant, automated responses to email requests. Our service-level agreements have been reduced from days to hours, and we have true, organisational visibility into business conducted over email.”
“Businesses increasingly turn to platforms that combine intelligent automation technologies and solutions to address entrenched business problems. Mining for value in the thousands of interactions between a business and its customers each day is an attractive proposition for organizations that want to enrich the customer experience, generate new revenue streams, and optimize operational efficiencies,” said Sneha Kapoor, Senior Research Manager, Analyst, and Technology Advisor for IDC Financial Insights.