We live in an era when spacecrafts can independently land on Earth and self-driving cars are beginning to populate our roads. It seems we are automating every aspect of our lives. Yet when you peek into the back-office of just about any company, you’ll see tired people slaving over incredible amounts of tedious work. Millions of people around the world sift through mountains of documents only to transcribe the numbers they contain into spreadsheets. Makes little sense, right? Welcome Rossum.
Rossum is teaching computers how to read data from common documents, just as Tesla is teaching cars how to drive on established roads. The goal is to free people from spreadsheets and move them towards more creative activities.
Most software that extracts data separates the structure of a document from its content. Rossum is
different, because it “sees” document semantics and structure the same way that humans do. That’s the key to our innovation, making it possible for Rossum’s neural networks to read even semi-structured data with unbeatable precision.
Rossum Ltd., founded by three highly regarded experts on artificial intelligence (AI) from the Czech Technical University in Prague, has officially joined forces with the investment group Miton. In addition to financing, we are investing our experience with building technology firms, and we plan to play an active role in joint AI projects. Over the past few months, Rossum has been working on automatic reading of documents, which could save countless hours of administrative work for millions of people around the world. At the moment they are teaching computers how to read invoices, more than a billion of which are created in the world each day. Rossum’s ambition is to be the best in the world at retrieving and processing invoice data.