Turn Unstructured Data Into Insights, Instantly

Every organization is sitting on a mountain of unstructured data that holds the next big insight that could transform your business. But unlocking and analyzing that data is an enormous chore. Instabase is unleashing the potential of unstructured data with generative AI, helping companies turn data into insights and insights into action.

A Note From Our CEO

Welcome to our Newsletter! We decided to launch this newsletter for two reasons. First, we have many exciting new features and products that we would like to update you on. Second, the interest in the broader field of Gen AI is so high that it is more efficient to share our views and updates via newsletter. You’ll find details on both below.

As you already know, last year, we unveiled AI Hub: a platform with a set of Generative AI tools for turning unstructured data into insights, instantly. With tools like (a) Converse: for having interactive conversation with your content (files) to gain insights, (b) Build: for building repeatable end-to-end automation workflows, and (c) Apps: a set of pre-built AI solutions, and workflows, we've only just begun to scratch the surface of what's possible.

Today, we take another bold leap forward with the introduction of a groundbreaking feature that empowers you to create and share chatbots within your organization (on your private data). Imagine having an HR assistant you can chat with anytime. This chatbot answers all your questions, from benefits to policies, making the HR support process a breeze. Additionally, this chatbot brings your product documentation to life throughout interactive chat. Get the information you need quickly and easily, without feeling overwhelmed. The ability to create chatbots over a large folder of docs or other data sources was a product feature requested by so many of you; and we are proud to update you that it's available today.

Generative AI technology and the market will keep moving forward at a very fast pace. We are launching a number of new products this year. Please stay tuned. Our commitment remains unwavering: to harness the power of AI advancements and bring these benefits to all of our customers, as we have consistently done over the years.

So, dive into the latest updates we've prepared for you, and join us on this journey through the evolving state of Generative AI. Together, let's shape the future.

-- Anant

Product Updates

Find Information Faster With AI Hub Chatbots

Quickly create and share chatbots within your organization to help teams get instant answers and insights from product, support, HR, and other documents. Learn more.

Unlock New Possibilities With AI Hub Commercial and Build

• For commercial users, lightweight human review has been replaced with a more full-featured offering. When reviewing run results, you can:Remap documents and edit values directly in the document preview.Enable Toggle bounding boxes to view selectable text.Pop out the document view for a multi-monitor review experience.For documents with validation, see updated validation results when you enter a new value.Mark documents as reviewed to help track review progress.
• Commercial users can configure downstream integrations to automatically send results to an email address, connected drive, or any app or system indicated in a custom function.
• Commercial users can create cleaning functions and validation functions for highly customizable fine-tuning of extraction results.
• Extract information about signatures, including whether a document is signed, who the signer is, and the signature date.
• When extracting tables, you can now filter columns or rows, sort columns, enable display of tables detected in the document, and more.
• You can search the text of a selected document or toggle between image and text views in the document preview pane.
• Other major enhancements include improved extraction confidence scores, more robust source (provenance) tracking, and speedier cleaning prompts.

Upcoming Events

Instech Webinar

April 29 | Virtual 

Registration and more details coming soon.

The BIBA Conference

May 15 - 16 | Manchester, UK

Money 20/20 Europe

June 4 - 6 | Amsterdam, NL

Insurtech Insights USA

June 5 - 6 | New York, USA

Insurance Tech Innovation Conference

June 5 - 6 | London, UK

Banking Transformation Summit

June 19 - 20 | London, UK

Latest News and Insights

Tackling the Problem of Unstructured Data at Europe’s Largest InsurTech Conference

At last week’s InsurTech Insights, which attracted over 7,000 attendees from all types of insurance companies across Europe, we spoke with hundreds of insurers at our booth, participated in an exciting panel on how data analytics are changing the insurance game, and hosted an executive roundtable on how AI can help unlock the real power of unstructured data for underwriters. A clear theme emerged from all these conversations. Insurers want to solve the complexities of handling unstructured data — not just the challenges of document processing. 

Instabase’s generative AI solution for processing unstructured data strongly resonated with insurance leaders, who found that it could tackle their key pain points within underwriting and claims processes. Generative AI and large language models have the capacity to efficiently analyze extensive volumes of unstructured data across varying quality spectrums, extracting relevant patterns and insights for insurers. 

Underwriters were excited to not only intelligently process complex documentation, but to also subsequently leverage natural language chatbots for underwriting guidelines to accelerate the underwriting journey for commercial risk. Similarly, life insurers loved how Instabase can help with document processing, but see even more value in leveraging our AI applications to engage directly with medical records as part of the underwriting process. Thank you to everyone who stopped by and learned more about Instabase! If you missed us at InsurTech, you can catch us at our upcoming events or contact us directly here.

What's Happening in AI

Claude 3 Makes Its Debut

The next generation of Claude, a ChatGPT competitor, offers 3 models that are on par with or outperform other leading models in reasoning, analysis, code generation, and vision capabilities.

Fortune 500 and Enterprise Leaders Bet Big on Generative AI

Enterprise leaders have nearly tripled their generative AI budgets, are using more than one model, and are pushing internal use cases into production. Explore the survey results to see what’s changed.

Vespa Announces Long-Context ColBERT

Vespa, an open source platform for combining data and AI, shares how its new implementation of ColBERT reduces complexity and improves effectiveness when retrieving long documents.