Artificial intelligence continues to make our lives easier every day and new AI applications find their place in various industries. AI can be more precise than a doctor to detect breast cancer by scanning X-rays. It can be faster than a designer drawing something you describe, and, sometimes, it is more efficient than a manual process by automating the work. With machine learning, AI gets more intelligent by doing its job repetitively, just like a human-being gains experience from experience.
Today, we see many companies and startups have “similar” products. When you hear about a product, you may think, “Yeah, that’s cool but doesn’t Company X already have it?” without even seeing the product. Just because Company X already has it doesn’t mean it’s better than the new product. In fact, a startup’s dedicated attention to perfecting a new AI tool often results in products that outperform satellite features of big tech product suites. We can see this very plainly in the shortcomings of Google’s Document AI vs. an AI document extractor developed by startup Base 64.ai. Google’s tool has many capabilities when it comes to parsing documents. But in terms of extracting data and understanding the context of a document, Base64.ai runs circles around Google’s tool.