Evolution AI, WMG Data Science Group, Dun & Bradstreet: Artificial Intelligence-Driven Information Extraction from Documents

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Many businesses hold vast volumes of semi-structured information in the form of business documents (e.g. contracts, invoices, delivery notes, payslips) and financial documents (e.g. compliance statements, regulatory filings, accounts) as scanned images or pdfs. These complex documents are not easily processed or 'understood' by technologies available today, including Natural Language Processing (NLP), a type of machine learning, and Optical Character Recognition (OCR). In this project we propose to develop a product to extract information accurately from semi-structured documents containing forms and tables, obviating the need for manual keying by human beings. Accuracy rates for such use-cases are currently very low, ~87%, well below human cognitive capability.The partners propose to solve this problem using a disruptive 'big data' approach exploiting a new class of algorithms which has recently emerged from the research base. Our project is a highly innovative industrial R&D collaboration. It is led by between Evolution AI, a UK SME which provides products that read and understand human language autonomously; backed by Evolution's customer (Dun & Bradstreet), the global market information and data solutions provider; and a world-leading university (University of Warwick, WMG Data Science Group). We will build on Evolution AI's capability in NLP and its proprietary big data processing architecture, along with WMG's expertise in deep learning and computer vision and Dun & Bradstreet's data, to develop new algorithms based on deep artificial neural networks, culminating in a market-ready product.Our innovation provides dramatic opportunities to make efficiencies in back-office processing, introduce automation and improve productivity; and also to capture new, intelligent knowledge at scale. We expect our product to create significant productivity gains for Evolution AI's customers and to help accelerate its growth into an export market worth $3.4 - $4.5Bn by 2023 growing at an estimated 16% - 38% per year. This will create at least 42 new jobs and an ROI to the public purse of approximately 7-12 times investment by 2023\.Evolution AI was incorporated in 2015 and provides five core capabilities: 1\. Information extraction; 2\. Semantic matching; 3\. Deep categorisation; 4\. Autonomous web crawling; 5\. Natural language generation. Evolution AI's proprietary Natural Language Processing (NLP) algorithms exploit state-of-the-art advances in deep learning technology using neural networks, running on our high-performance compute architecture. Its clients are major blue-chip organisations in banking, insurance, professional services, government, health, retail and media.