• Business process automation (BPA) company Exela Technologies, Inc (NASDAQ: XELA) expanded its AI-enabled automation offering in the BPA space with Intelligent Document Processing (IDP) combined with its robotic process automation platform (EON).

  • IDP enables the automation of document classification, data extraction, and data routing into a cloud or on-premise hosted service portal that provides a containerized, dynamically scaling solution accessible from anywhere on-demand.

  • Using the IDP system, Exela has begun leveraging machine learning-based classifiers that significantly augment document processing automation in the healthcare and public sector and has plans to ramp up projects in the finance and legal sectors soon.

  • EON can automate workflows to achieve efficiency and accuracy gains and free up human capital for higher-value uses.

  • Price action: XELA shares traded higher by 17.71% at $3.43 on the last check Monday.

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