Acquisition of Re:infer by UiPath facilitates an increase in usable consumer data for businesses
UiPath, an enterprise automation software company, has recently acquired Re:infer, a natural language processing (NLP) organization for unstructured documents and communications. Re:infer utilizes machine learning (ML) to mine value from business interactions, like email context, online chats, and voice sessions, then converts them into usable data, both with efficiency and precision.
“Automation and AI are a powerful and natural pair that together empower the vision of the fully automated enterprise,” said Ted Kummert, executive vice president, products and engineering at UiPath. “Our customers are awash in documents, communications, and data that they need to understand the meaning of and process efficiently. Combining Re:infer’s NLP technology with our Document Understanding and AI products expands the breadth of our current AI-powered automation capabilities and unlocks new automation opportunities for our customers.”
As a solution towards regularly lost or ignored data due to company limitations, Re:infer provides businesses with the ability to implement custom machine learning models for document and communications data analysis with an accessible no-code interface. AI models can be trained for adaptability and precision, as well as apply self-learning procedures to exponentially improve model accuracy. Re:infer’s technology aids enterprise giants like Deutsche Bank, Hiscox Ltd., and Farfetch scale their services, improve customer experience, and drive process enhancement, according to the vendor.
“Automating the interpretation of documents and communications data bridges the gap between humans and information technology systems, and structured and unstructured data to supercharge digital transformation efforts in the enterprise,” said Dr. Ed Challis, CEO and co-founder of Re:infer. “We have spent the last seven years building an innovative technology and believe UiPath will take us to another level. We couldn’t be more excited to access UiPath’s power of scale and introduce Re:infer to a new global audience. We’re joining the leader in enterprise automation and it’s an incredible day for us.”
Details about this venture will be announced at UiPath’s FORWARD 5 conference at the Venetian Resort in Las Vegas September 27-29, 2022. For event registration, please visit: https://www.uipath.com/events/forward/register.
For more information about the acquisition, please visit https://www.uipath.com/.