Process automation vendor Pipefy has launched a new generation of artificial intelligence (AI) agents, dubbed Agents 2.0, to automate workflows along with intelligent document processing (IDP) capabilities to extract data from any document.
Pipefy’s AI Agents 2.0 deliver greater accuracy for complex activities, using documents as a knowledge base and enabling automatic execution of actions, according to the announcement. For example, an AI agent can automate the registration of customers and partners, validating data, cross-checking legal information, and making secure and traceable decisions.
Meanwhile, with new IDP functionality, the Pipefy platform more accurately reads documents and extracts information using AI.
What are AI agents?
AI agents are autonomous or semi-autonomous systems that can perceive their environment, reason about it, and take actions to achieve specific goals using AI techniques like machine learning, natural language processing, and planning.
AI agents are becoming “essential” for process automation & enhanced decision-making, according to a recent IBM study. As many as 83 percent of respondents expect AI agents to improve process efficiency and output by 2026, with 71 percent believing agents will autonomously adapt to changing workflows.
What is IDP?
IDP is the automated extraction of data, converting it into structured, actionable, and machine-readable information. It uses a finely tuned combination of technologies and AI models to classify, categorize, and validate extracted information with high levels of confidence and accuracy.
The IDP market has grown significantly in the last few years and is expected to continue to expand exponentially, with Fortune Business Insights predicting it to have a value of over US$66 billion by 2032.
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Pipefy’s new AI Agents 2.0 & IDP capabilities
With its newest features, Pipefy can quickly and accurately extract data from any document in seconds, processing large volumes of documentation, stated a press release. By combining the accuracy of AI with optical character recognition (OCR), the platform dramatically increases the reliability of processes to offer contextual interpretations and highly accurate results, even from complex or unstructured documents.
As a result of these innovations, Pipefy customers have saved 130,000 hours of manual document review and data extraction. A full 46 percent of the AI agents on the Pipefy platform are already related to reading and extracting information from documents using the advanced IDP and OCR capabilities.
“In this scenario of high document volume and lack of standardization that compromises the operational efficiency of companies, AI agents can be built from the ground up to direct all documentation to the IDP,” said Paola Benchimol, head of product at Pipefy. “What was missing was intelligence capable of directing demand and another to understand the context, extract data accurately, and make decisions automatically.”