Lazarus

Lazarus AI is a technology company that has developed an intelligent document processing (IDP) platform called RikAI. This platform leverages a combination of machine learning, deep learning, and expert systems to analyze, categorize, and extract data from unstructured documents like invoices and contracts. RikAI stands out for its ability to recognize handwritten text with 92% accuracy and typed text with 99.9% accuracy across over 40 languages, without requiring any training data or templates.

RikAI's key capabilities include data extraction, handwriting capture, document classification and summarization, and handling any document format or size. It also provides explainability metrics such as confidence scores and bounding boxes. The platform has been deployed by various industries, including fintech, insurance, law firms, and outsourcers, for processing documents like contracts, forms, invoices, medical records, prior authorizations, and purchase orders.

In May 2023, Lazarus AI highlighted the transformative potential of advanced document understanding driven by artificial intelligence. The company claimed that its RikAI platform outperforms previous-generation IDP tools by addressing common customer requirements like processing handwriting, eliminating template building, and avoiding accuracy loss with new document layouts. RikAI offers impressive price-performance, making it a cost-effective solution for businesses seeking to automate document processing.