We recently completed the 18th Infosource Capture & IDP Conference held at the Eaglewood Resort & Spa in Chicago. Our theme this year was “Unlocking the Power of AI to Drive Process Automation,” and we certainly unlocked some lively discussion.
Since last year’s conference the release of Generative AI into the mainstream, as well as its application in Capture & Intelligent Document Processing applications, has been on the top of everyone’s mind. We had a great line-up of speakers who discussed AI’s infusion into the market from a number of angles.
Of course, we had our own analysts, who discussed their recently completed research on the size and dynamics of the Capture & IDP market in 2022, as well as where it is heading over the next five years. They also pointed out that AI is not new to Capture & IDP and that Generative AI and Large Language Models are part of ongoing evolution and growth in the market.
This set the stage for the event’s keynote by the colorful Gary Fower of GSD Ventures. Gary has been investing globally in AI-driven technology companies for years and offered his insights into where Generative AI can take us, both within and in addition to the Capture & IDP space. Gary, who is also a prolific author, recently published a book on the possibilities of Generative AI, which include solving the epidemic he calls “Infobesity.” Gary also made himself available throughout the conference, entertaining and informing attendees with anecdotes and advice on leveraging AI.
Of course, when we were done exploring the explosive potential of the burgeoning market for Generative AI, we called on longtime industry executive Andrew Pery to introduce some much needed cautionary advice to the discussion. Andrew, who has worked for Kofax and ABBYY among others in the industry, is a member of the bar and currently working as an Ethical AI Evangelist. Andrew discussed the risks and dangers associated with AI, as well as litigation in development that will affect the market. He advised attendees on how to take steps to ensure they are in compliance with these regulations and ethical concerns.
Andrew was followed by Kalpana Mahesh who is the head of AI/ML GTM, for AWS. For the past several years, we’ve had a lot of feedback from attendees that they want to hear more about deploying technology in the cloud and AWS in on the leading edge of both IDP and Generative AI cloud deployment. Kalpana discussed where Amazon is headed in both areas and how they can be brought together to automate end-to-end processes, fitting nicely with Infosource’s vision for the future of the market.
Our afternoon speakers included Nil Sur, a consultant in the Fintech industry who has global experience in the Capture, IDP and print spaces. He gave attendees deep insights into how the Fintech market is evolving worldwide and how Capture and IDP vendors can leverage their technology in the rapidly changing landscape of financial services, which represents our industry’s largest vertical.
With interest rates up and outside investment in IDP ISVs down (unless of course you have a good Generative AI story), signs of market consolidation are looming. To address this trend, we hosted an M&A panel featuring industry veterans David Gerber of Corum Group and Paul Carman of Xamcor. While they were optimistic that deals can get done, they were also unsparing in their advice to companies looking to execute an acquisition, from either side of the table.
Our closer was Nathaniel Palmer of Serco, who has designed multiple Capture and process automation systems, including the one for CMS Eligibility (Obamacare) support. Palmer took attendees through his complex journey or re-engineering the system to the point where it has removed financial risk from the U.S. Federal government and transferred it to Serco, which is then responsible for driving its own margins. Attendees were full of questions about this journey, which Nathaniel fielded as part of our afternoon speakers’ panel. We also had a panel of morning speakers that featured lively discussion on AI technologies. That discussion carried over into our final session of the day, when Infosource analysts turned the tables on the attendees and solicited their expert opinions on the topics of the day.
We’d like to thank our sponsors, OpenText and the TWAIN Working Group, who enabled our networking events, as well as event organizer Erin Dempsey, who always keeps things running smoothly. We’d also like to thank our return attendees for their continued support and new attendees for sharing their time with us. Please reach out if you’d like any more information on Infosource and the Capture & IDP Conference.
