Google, FinTech Group Unified Post teamed up with AI Data Capture

Google's AI solution can be used’ to handle the processing of documents related to more than 400,000 European businesses.

Google and Unified Post have announced a collaboration in which it can be seen’ that Google's procurement DocAI solution applies to documents provided by more than 400,000 businesses across Europe.


On Wednesday, Nelson Gonzalez, product manager at Google Cloud, said Unified Post, a tech organization based in 15 countries, would use the procurement post office.


The company handles purchase documents for more than 400,000 small and medium-sized businesses and more than 250 enterprise players, which is a time-consuming and complex task - but it is believed’ that AI could smooth the process.


As announced in September, Purchasing Postage A uses artificial intelligence (AI) samples to automatically obtain valuable information from documents and various artificial data.


Unified Post intends to work with Google to improve the solution, including invoices, e-invoices, Know Your Customer (KYC) records, and payment services ranging from IBAN notes to PSD2 payments. Will use it to retrieve data from documents.


"Large business acquisition and distribution networks, as well as SMEs, produce millions of receipts, receipts and other related documents a year," says Gonzalez. "These processes generate significant overhead for each acquired item. As competition pressures, businesses are forced to automatically find one of their top business processes."


The companies say that the implementation of Procurement Dock A will result in a 60% reduction in procurement to pay processing costs and possibly "increase the accuracy of data in Unified Post document extraction by 250%."


In this week's news, Google unveiled lending robbery, an AI solution aimed at the mortgage industry. This crossover software also uses AI algorithms for capturing and processing data and focuses on expediting loan applications by estimating an applicant's income and assets.


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