SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Docufai, a new generative AI tool that enables users to get instant answers from their documents, launched in beta today at docufai.com. Offering users an entirely new way of interacting with their content, Docufai promises to transform the way people and businesses work with and unlock value from their documents. With Docufai, users can access information from documents of all types in a matter of seconds, allowing them to understand their content with greater speed and precision while helping them make data-driven decisions more efficiently.
Docufai is built on an industry-leading document intelligence platform developed by parent company Ripcord and used by major enterprises including MUFG Bank, Warner Media, Coca-Cola, and the Internal Revenue Service (IRS). From day one, Docufai users can expect enterprise-grade security and scalability while maintaining full ownership and control over their data.
“While current tools focus on storage, sharing, and content creation, Docufai offers a new paradigm,” said Sam Fahmy, CEO of Ripcord. “Not only can you collect and understand critical documents, but you can instantly find the information you need when you need it. By significantly cutting down the time allocated to searching for information and extracting data from documents, Docufai users can save thousands of hours and billions of dollars in wasted time and lost data. More importantly, they will unlock a wealth of knowledge trapped in documents.”
Unlike other generative artificial intelligence (GenAI) tools focused on creating content, Docufai uses large language models (LLM) to accelerate access to information. By enhancing the capabilities of an LLM with integrated knowledge bases, logical rules, and structured inputs, Docufai can logically reason, infer, and deduce information from a user’s own documents. As a result, it provides accurate and trustworthy information while avoiding hallucinations and other pitfalls common amongst other GenAI applications.
Docufai also delivers document intelligence with unparalleled ease of onboarding. In a matter of minutes, users can create a Docufai account and begin uploading documents to the platform. Users can view automatic summaries and ask natural language questions about their documents, receive instant answers, and gain insights with AI. Docufai’s robust multilingual capabilities allow users to ask questions and find answers, regardless of the language of the original document.
“Until today, document intelligence has been reserved for enterprises who pinpointed high-value use cases,” said Jonathan Grubb, Vice President of Product Management at Ripcord. “With Docufai, we’re bypassing the high cost of onboarding to bring AI-powered tools to all users and use cases.”
A powerful and versatile platform, Docufai can help legal teams accelerate discovery, insurers find details in policy documents, finance professionals expedite asset analysis and audits, mergers and acquisitions teams conduct due diligence with speed and ease, and business users understand contracts, unearth data from dense reports, and work more efficiently. Currently available in beta for individual users, with team and enterprise plans coming soon, Docufai can be applied across a diverse range of document types including invoices and receipts, user manuals, financial records, medical documents, educational content, and more.
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Docufai uses the power of generative AI to instantly unlock information from documents, transforming how people find, share, and use knowledge. Built with enterprise-grade security, speed, and scale, Docufai removes barriers to accessing information and accelerates document processes across industries. Launched in 2023, Docufai was developed by parent company Ripcord, the leader in robotic digitization and document intelligence, backed by investors including Kleiner Perkins, Google Ventures, Icon Ventures, Lux Capital, and Apple co-founder Steve Wozniak. Learn more at docufai.com or follow us on LinkedIn or X.