Cortical.io announced a new release of its Cortical.io software. Utilizing a natural language understanding (NLU) approach based on semantic folding theory, the software analyzes the content of large quantities of documents. It automatically searches, extracts, classifies and compares key information from agreements, contracts, and other unstructured documents like policies and financial reports. The Cortical.io Contract Intelligence solution understands the meaning of whole sentences and concepts, instead of just keywords. The new version capabilities include: high-fidelity rendering of documents, improved extraction capabilities and advanced search (i.e. the ability to perform range queries that allow you to search for numerical and date ranges).
Cortical.io Contract Intelligence helps reduce the time and costs for any organization that needs to review and extract information from a large number of unstructured documents. It also helps reduce human errors inherent to a boring repetitive task and make better use of expensive subject matter experts. This helps markets such as insurance, that review and extract sensitive information from policies and loss run reports on a large scale. Pricing is based on annual volume of documents.
