nRoad launches new data platform
US-based Artificial Intelligence (AI) startup nRoad recently released its new platform called Convus which aims to tackle the challenges of unstructured data for industries including business process outsourcing (BPO) and cloud-based platforms.
In a statement, nRoad said that Convus is built and trained on long-form, highly unstructured documents and content. Additionally, it is designed to be form- and format-agnostic and is powered by a set of modularized engines that are API-driven.
nRoad CEO Aashish Mehta explained that by using Convus, companies are eliminating the need to train and process various unstructured data separately.
According to Mehta, Convus uses new vision-based and other deep learning algorithms combined with classical ML algorithms and an NLP layer that leverages publicly available transformer language models.
What differentiates nRoad’s new offering is its ability to incorporate domain knowledge using graph techniques and domain-specific language models that enable it to maintain domain context, relationality, and semantic similarity of the data.
The company said that the Convus platform is 2.8 seconds faster than popular cloud solutions, has a 90% extraction accuracy, and has extracted over ten million domain-specific terms, to date.
Convus is currently used in the financial services industry with some of the largest fintech players, asset management firms, and financial data providers relying on its capabilities.
