What the company does
Cortical.io delivers AI-based solutions that streamline the extraction, classification, and analysis of information hidden in unstructured documents while providing short time to value. Cortical.io‘s meaning-based approach to natural language understanding called Semantic Folding solves many critical challenges of text processing in a business context.
The Current Landscape
Intelligent Document Processing (IDP) is a crowded field, with many startups leveraging off-the-shelf AI tools, and legacy vendors coming from more traditional industries like document capture who try to surf the wave by adding AI capabilities to their products. Most vendors however focus on structured and semi-structured content like processing forms, invoices or insurance claims. The market of unstructured content is still largely untapped.
Company Birth Story
The idea for Semantic Folding took shape while Francisco Webber, co-founder and CEO of Cortical.io, was studying the latest developments in neuroscience, in particular the work done by Numenta. Francisco saw an opportunity to apply the brain processing principles as described in the Hierarchical Temporal Memory (HTM) theory to text. The company was founded in 2011 to test this idea, with the support of a research grant by the Austrian government. The first prototype exceeded expectations, and an angel investor stepped in, enabling the hiring of a team and the first commercial developments.
Based on its patented Semantic Folding approach and other state-of- the-art machine learning approaches, Cortical.io has developed a solution for Intelligent Document Processing (IDP) that overcomes many of the challenges of processing unstructured text. Cortical.io SemanticPro extracts, classifies, analyzes, and routes large volumes of unstructured documents, contracts, emails, text, and message streams at scale, with a high level of accuracy and minimal human intervention. A major difference with other IDP software is that SemanticPro can be customized to any use case with very little training material. Fortune 500 companies across various industries have solved very different use cases with Cortical.io in the past ten years.
A Customer Story
Many customers come to Cortical.io after their attempts to automate workflows involving complex content have failed. A large insurance company, for example, had given up on the idea to improve its quoting process with IDP because they could not find any software capable of extracting accurate information from many different document types, nor of correctly interpreting the different manners a provision can be described. This insurance company was flabbergasted to see that Cortical.io SemanticPro could achieve better results than human reviewers with only a few hundred sample policies annotated to kick off the system!
The Team Culture
Cortical.io is a true melting pot of cultures from around the globe, with more than 15 different nationalities represented in our offices in Austria and in the US. The Vienna office is known for its best-of- the-world espresso machine – and its barbecue parties in the inner yard of the office.
Check out more: https://www.cortical.io/
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