target audience: TECH BUYER Publication date: Oct 2024 - Document type: Tech Buyer Presentation - Doc Document number: # US52612624
IDC Innovators: LLM-Driven Document Understanding, 2024
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Abstract
This IDC Innovator presentation identifies three vendors developing transformative document understanding software solutions leveraging the capabilities and evolution of large language models (LLMs).
LLMs are quickly becoming a critical tool and mechanism within a document understanding software vendor's "toolbox" to improve training and validation times, support new use cases, enable new document functionalities, broaden document understanding to new user personas, and ultimately expand where and when the technology can be used.
"LLMs have played a role in document understanding for multiple years; this role was largely nuanced. However, IDC has seen this drastically change over just the past 12 months. LLMs and multimodal models are the driving force for technology innovation, ecosystem investment, rising customer expectations and, ultimately, supplier disruption." — Matt Arcaro, research director, Computer Vision AI Tools and Technologies