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Yahoo
5 hours ago
- Business
- Yahoo
ABBYY Hackathon Winners Demo the Power of Document AI, AI Agents and GenAI to Solve Enterprise Challenges
AUSTIN, Texas, July 22, 2025--(BUSINESS WIRE)--ABBYY hosted its third annual AI Pulse Developer Conference and Hackathon July 9-10 where 35 entrants registered to build their most innovative solutions using Document AI with AI agents and generative AI technologies to solve real-world enterprise problems. Four teams wowed the more than 300 attendees winning categories for Best Overall App, Best Use of an ABBYY Product, Best Integration of Third-Party AI, and an honorary mention of a Student Excellence Award. The judges for the hackathon were ABBYY executives Paula Sanders, SVP of Pre and Post Sales, Neil Murphy, Chief Revenue Officer and Bruce Orcutt, Chief Marketing Officer. "When we kicked off DevCon three years ago, we wanted to build a global community where developers could challenge the status quo and reimagine what's possible with AI and documents and cure the biggest headaches related to document processing," commented Murphy. "This year's solutions were nothing short of inspiring - turning complex challenges like healthcare policy interpretation and expense compliance into smart, intuitive experiences. What excites me most is how far we've come, with ABBYY investing in new R&D hubs, Centers of Excellence, and the tools to empower this growing ecosystem of innovators. We're just getting started." The winner for Best Overall App was Team Deloitte, consisting of Kaustubha Uday Vaidya, Rithi M, S Shanthaseelan and Md. Shahid Akhtar. Their solution, Spend Guard, automated the scanning, interpretation and validation of business expense receipts. They leveraged ABBYY Vantage for data extraction and agentic AI using Gemini to ensure policy compliance by instantly flagging non-compliant expenses and reasons for flagging. Their app accelerated expense claim processing, reduced manual effort, and helped organizations minimize errors and policy violations. Commented Rithi of Team Deloitte, "Participating in the ABBYY Developer Conference was an incredible opportunity to push the boundaries of what's possible with AI-driven document processing. The energy, innovation, and support from the ABBYY community made this an unforgettable experience." Winning Best Use of an ABBYY Product was Team McKinsey led by Sathish Kumar Murugan who developed a cutting-edge solution designed to break language barriers in global document processing through the power of AI. The Smart Translator used ABBYY Vantage to intelligently extract data from scanned or image-based documents and integrated ChatGPT for instant, context-aware translation. It eliminated the need for manual data entry and translation, saving time and reducing errors and empowering teams to work faster, smarter, and more collaboratively—regardless of language or document format. Sathish stated, "Participating in the ABBYY hackathon was an inspiring journey of innovation and collaboration. Building Smart Translator showed us how AI and intelligent OCR can come together to solve real-world challenges with speed and accuracy." The Best Integration of Third-Party AI combined ABBYY Vantage and OCR and Document Skills with a variety of AI tools including spaCY, OpenAI Embeddings, ChromaDB, LangChain Agents and Gradio. Created by Team Telstra with Krishna Kumar S and Madhu Shankar, their Insurance AIdvisor was an agentic AI assistant that simplified health insurance policies so users would no longer be surprised by denied claims or financial shock due to not understanding complex jargon or fine print. Madhu Shankar of Team Telstra commented, "We were proud to be part of AI Pulse, a platform that highlighted the transformative potential of agentic AI. ABBYY's strategic evolution within this forward-looking ecosystem—by empowering Intelligent Document Processing (IDP) tools—positions it as a key enabler in the development of autonomous, decision-capable AI systems." The AI Pulse Developer Conference was also a forum for students to take what they learned in the classroom and apply it to a real-world scenario. Earning an honorary mention for a Student Excellence Award was Team CMRIT with Sarvottam Bhagat and Deepankar Sharma from CMR Institute of Technology. Said Sarvottam Bhagat from Team CMRIT, "Participating in the ABBYY Developer Conference Hackathon was a phenomenal learning experience. It pushed us to creatively integrate multiple AI agents with ABBYY's powerful document processing tools live and in real time. We competed with companies like Tech Mahindra, Wipro, Deloitte, and others. We learned a lot and connected with some truly amazing people along the way." Their SILO AI app was a unified document automation toolkit that simplified and accelerated document-heavy workflows. It analyzed various document types such as invoices, KYC and contracts, then suggested the most suitable ABBYY model for processing, and routed the processed data through an n8n workflow, delivering results via Gmail and Slack through an MCP server. To learn more about combining IDP and large language models (LLMs), download the playbook, "Next-Generation Document Automation: Combining Document AI and Generative AI," at To hear more insights from the intelligent automation industry's biggest influencers, subscribe to the AI Pulse podcast at and AI Pulse e-newsletter at About ABBYY ABBYY uses purpose-built AI to transform data and workflows from business-critical processes to accelerate decisions and drive better outcomes. More than 10,000 customers, including many Fortune 500 companies, rely on ABBYY's industry-leading Process AI and Document AI to accelerate customer experiences, operational excellence, and achieve a competitive advantage. ABBYY is a global company with headquarters in Austin, Texas and offices in 13 countries. For more information, visit and follow us on LinkedIn, Twitter, Facebook, and Instagram. ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners. View source version on Contacts Editorial Contact: Gina +1 949-370-0941 Sign in to access your portfolio
Newsweek
25-06-2025
- Business
- Newsweek
AI Impact Summit 2025: Watch Attendees Debate and Explore Demos on Day Two
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Attendees of Newsweek's AI Impact Summit returned for a second day of insightful conversations on Tuesday as speakers offered thought-provoking ideas about artificial intelligence in everything from health care to filmmaking and city planning to weather forecasting. To kick off the day, industry leaders gathered for breakfast on the lawn of the Fairmont Sonoma Mission Inn & Spa, where organic eggs, Belgian waffles and fresh coffee awaited them. Daniel Danker, the chief product officer at Instacart, was among the early risers at the venue. Sipping on a hot beverage from the specialty coffee cart, Danker told Newsweek it was important to meet with other leaders at events like the AI Impact Summit because, "We're all trying to figure out the same things right now." Sonoma, CA - Instacart CPO Daniel Danker speaks with Newsweek senior reporter Katherine Fung and Instacart associate manager Jane Ross before event programming begins at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24,... Sonoma, CA - Instacart CPO Daniel Danker speaks with Newsweek senior reporter Katherine Fung and Instacart associate manager Jane Ross before event programming begins at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. More NICK OTTO "Seeing the different approaches across different companies and different industries is very informative, because the paint is still very wet still," Danker said. "It's interesting to see which colors and how it's setting across different companies in different parts of industry." Danker sat down with Marcus Weldon, Newsweek contributing editor and president emeritus of Bell Labs, for a conversation about how Instacart is leveraging AI to "completely tailor the [grocery] store to the shape of your household, dietary needs, brands you like, whether you're more or less price sensitive, whether you're more value-oriented." Gina Ray, the senior director of corporate marketing, brand and corporate communications at ABBYY, also joined fellow attendees for breakfast on Tuesday, excited for another day of programming. ABBYY was among Newsweek's 2025 AI Impact Award winners, taking home the Best Outcomes, Accounting recognition. Sonoma, CA - AI Impact Summit guests eat breakfast and network before event programming begins at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. Sonoma, CA - AI Impact Summit guests eat breakfast and network before event programming begins at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. NICK OTTO Halfway through the morning, attendees exited the pavilion to explore various demonstrations during the AI Intel networking break. Carrying their bright red Newsweek swag bags, many of them took the time to walk around installations from Cognizant, Google Cloud, EVOM AI Piano and Doctronic, among others. Doctronic's founders, Matt Pavelle and Dr. Adam Oskowitz, showed attendees how their AI works: Patients can make a telehealth appointment with Doctronic's AI doctor, who then transcribes notes that patients can take to a human provider. "Our north star has always been access," Oskowitz told Newsweek. Sonoma, CA - AI Impact Summit attendees walk to the AI Intel networking session at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. Presenting companies include Cognizant, Google Cloud, The Marketing Cloud,... Sonoma, CA - AI Impact Summit attendees walk to the AI Intel networking session at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. Presenting companies include Cognizant, Google Cloud, The Marketing Cloud, City of Denver, EVOM AI Piano, Doctronic, Serve Robotics and Zoom. More NICK OTTO He said one of the biggest obstacles is timing. Patients want to know what's happening to them immediately, not in three weeks or three months when their doctor's office might finally have appointment availability. Pavelle chimed in, "Our business model is to try to provide really inexpensive primary care and urgent care, which is obviously useful, and then refer out for specialists." "When we launched two years ago, the question was, did people want to talk to an AI doctor?" Pavelle told Newsweek. "The answer was an immediate yes. People just say things, and there's no embarrassment." Sonoma, CA - Doctronic co-founder Matt Pavelle offers visits to AI Impact Summit attendees during a networking break at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. Sonoma, CA - Doctronic co-founder Matt Pavelle offers visits to AI Impact Summit attendees during a networking break at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. NICK OTTO By getting around that obstacle, Pavelle suggested that an AI doctor might be able to extract more accurate information from a patient than a real-life doctor because patients might feel less judged and, thus, provide more truthful and genuine answers about their health. He also reflected on the Newsweek summit, describing Tuesday's health care panel as "fantastic," praising the speakers for being "spot on," and recalling a "great" discussion from yesterday's industry roundtables. Tuesday's roundtable discussions included a conversation on whether organizations should build their AIs in-house or outsource that type of work. Executives across industries—from finance to energy to health care—debated the decision, remarking how building it yourself would foster greater innovation and allow you to create an AI that is more tailored to the needs of your company. On the other hand, buying AI can be faster, more reliable and more cost-effective. Sonoma, CA - Doctronic co-founders Adam Oskowitz and Matt Pavelle present their AI doctor and offer visits to AI Impact Summit attendees during a networking break at Fairmont Sonoma Mission Inn and Spa on Tuesday,... Sonoma, CA - Doctronic co-founders Adam Oskowitz and Matt Pavelle present their AI doctor and offer visits to AI Impact Summit attendees during a networking break at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. More NICK OTTO The roundtable was led by Vickram Kooblall, the chief information officer and chief information security officer at Scahill Law Group, who told Newsweek he was amazed by the slate of speakers at the summit. "It's phenomenal," Kooblall said as he made his way over to the lunch taco bar from the Kenwood Ballroom. "The quality of speakers at the conference really surprised me," he said. "It gives us greater insight into where we're going to be headed. They're kind of at the innovation standpoint. They're the ones creating the path, while we're following it, creating little adjacent roads outside and coming back into it." Sonoma, CA - Scahill Law Group CIO and CISO Vickram Kooblall leads AI Impact Summit attendees through the "Build It or Buy It" roundtable discussion at Fairmont Sonoma Mission Inn and Spa on Tuesday, June... Sonoma, CA - Scahill Law Group CIO and CISO Vickram Kooblall leads AI Impact Summit attendees through the "Build It or Buy It" roundtable discussion at Fairmont Sonoma Mission Inn and Spa on Tuesday, June 24, 2025. More NICK OTTO Kooblall said he particularly enjoyed hearing from the Cognizant executives who attended the first and second day of the summit, describing their AI work as "an innovation, a solution that I'm really looking for." After a tasty lunch, Kooblall joined other attendees on a visit to the St. Francis Winery & Vineyards, where some elegant, fruit-driven wines awaited them. The guests then returned to the lawn after the wine tour for another networking reception to close out the second day of the summit. On Wednesday, AI leaders will take the Newsweek stage to discuss the age of the new workflow, returns of investment in the age of AI and how to enhance AI governance and privacy. Check out the full lineup here.
Yahoo
18-06-2025
- Business
- Yahoo
ABBYY Wins Newsweek AI Impact Award for Transforming Financial Operations with Document AI
AUSTIN, Texas, June 18, 2025--(BUSINESS WIRE)--The power of ABBYY AI was recognized by the Newsweek AI Impact Awards taking the top honor in the category, "AI in Finance: Best Outcomes, Accounting." The award recognized ABBYY's excellence in eliminating manual invoice processing, significantly reducing operational costs and surpassing expectations with its AI-powered intelligent document processing (IDP) solutions. Judges praised ABBYY for delivering measurable impact, notably improving efficiency and accuracy, and successfully integrating with existing enterprise systems enabling more fulfilling and value-generating experiences for staff in accounts payable for leading organizations. At an Australian dairy cooperative, ABBYY's AI-powered IDP technology intelligently automated the processing of 300,000 invoices annually across two ERP systems. The initiative reduced labor costs by nearly 80%, contributing directly to the company's mission of reinvesting profits back into its farmer-owned community. ABBYY also made significant impact at a global provider of vehicle parts and accessories. Previously handling 17,000 invoices manually each month, the manufacturer adopted ABBYY's purpose-built document AI to automate the process. The transformation not only eliminated overtime costs but also reduced storage and printing costs and improved employee engagement by allowing teams to shift focus from repetitive tasks to higher-value activities like exception handling and statement reconciliations. "We are honored to be recognized by the Newsweek AI Impact Awards for the success our customers achieve using ABBYY Document AI. This win underscores our leadership in intelligent automation and commitment to helping businesses harness the power of AI," said Ulf Persson, CEO of ABBYY. "While this award recognizes our impact in accounts payable and invoice processing, our customers across all functions of the business experience the same results whether it's for claims processing, retail lending, customs declarations, tax preparation, trade finance, customer onboarding, or health records digitalization and prior authorization." The Newsweek AI Impact Awards celebrates the transformative power of AI to solve everyday business challenges and the impact and outcomes of its use. ABBYY will also be attending the Newsweek AI Impact Summit taking place June 23-25, 2025 in Sonoma, California. Learn more about how ABBYY Document AI transforms accounts payable automation by visiting and watching the video About ABBYY ABBYY puts your information to work with purpose-built AI. We combine innovation and experience to transform data from business-critical documents into intelligent actionable outcomes in over 200 languages in real time. We are trusted by more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: accelerate the customer experience, operational excellence, and competitive advantage. ABBYY is a global company with headquarters in Austin, Texas and offices in 13 countries. For more information, visit and follow us on LinkedIn, Twitter, Facebook, and Instagram. ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners. View source version on Contacts Editorial Contact: Gina +1 949-370-0941 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
18-06-2025
- Business
- Business Wire
ABBYY Wins Newsweek AI Impact Award for Transforming Financial Operations with Document AI
AUSTIN, Texas--(BUSINESS WIRE)--The power of ABBYY AI was recognized by the Newsweek AI Impact Awards taking the top honor in the category, 'AI in Finance: Best Outcomes, Accounting.' This win underscores our leadership in intelligent automation and commitment to helping businesses harness the power of AI. Our customers across all functions of the business experience the same results. The award recognized ABBYY's excellence in eliminating manual invoice processing, significantly reducing operational costs and surpassing expectations with its AI-powered intelligent document processing (IDP) solutions. Judges praised ABBYY for delivering measurable impact, notably improving efficiency and accuracy, and successfully integrating with existing enterprise systems enabling more fulfilling and value-generating experiences for staff in accounts payable for leading organizations. At an Australian dairy cooperative, ABBYY's AI-powered IDP technology intelligently automated the processing of 300,000 invoices annually across two ERP systems. The initiative reduced labor costs by nearly 80%, contributing directly to the company's mission of reinvesting profits back into its farmer-owned community. ABBYY also made significant impact at a global provider of vehicle parts and accessories. Previously handling 17,000 invoices manually each month, the manufacturer adopted ABBYY's purpose-built document AI to automate the process. The transformation not only eliminated overtime costs but also reduced storage and printing costs and improved employee engagement by allowing teams to shift focus from repetitive tasks to higher-value activities like exception handling and statement reconciliations. 'We are honored to be recognized by the Newsweek AI Impact Awards for the success our customers achieve using ABBYY Document AI. This win underscores our leadership in intelligent automation and commitment to helping businesses harness the power of AI,' said Ulf Persson, CEO of ABBYY. 'While this award recognizes our impact in accounts payable and invoice processing, our customers across all functions of the business experience the same results whether it's for claims processing, retail lending, customs declarations, tax preparation, trade finance, customer onboarding, or health records digitalization and prior authorization.' The Newsweek AI Impact Awards celebrates the transformative power of AI to solve everyday business challenges and the impact and outcomes of its use. ABBYY will also be attending the Newsweek AI Impact Summit taking place June 23-25, 2025 in Sonoma, California. Learn more about how ABBYY Document AI transforms accounts payable automation by visiting and watching the video About ABBYY ABBYY puts your information to work with purpose-built AI. We combine innovation and experience to transform data from business-critical documents into intelligent actionable outcomes in over 200 languages in real time. We are trusted by more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: accelerate the customer experience, operational excellence, and competitive advantage. ABBYY is a global company with headquarters in Austin, Texas and offices in 13 countries. For more information, visit and follow us on LinkedIn, Twitter, Facebook, and Instagram. ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners.
Yahoo
18-06-2025
- Business
- Yahoo
ABBYY Wins Newsweek AI Impact Award for Transforming Financial Operations with Document AI
AUSTIN, Texas, June 18, 2025--(BUSINESS WIRE)--The power of ABBYY AI was recognized by the Newsweek AI Impact Awards taking the top honor in the category, "AI in Finance: Best Outcomes, Accounting." The award recognized ABBYY's excellence in eliminating manual invoice processing, significantly reducing operational costs and surpassing expectations with its AI-powered intelligent document processing (IDP) solutions. Judges praised ABBYY for delivering measurable impact, notably improving efficiency and accuracy, and successfully integrating with existing enterprise systems enabling more fulfilling and value-generating experiences for staff in accounts payable for leading organizations. At an Australian dairy cooperative, ABBYY's AI-powered IDP technology intelligently automated the processing of 300,000 invoices annually across two ERP systems. The initiative reduced labor costs by nearly 80%, contributing directly to the company's mission of reinvesting profits back into its farmer-owned community. ABBYY also made significant impact at a global provider of vehicle parts and accessories. Previously handling 17,000 invoices manually each month, the manufacturer adopted ABBYY's purpose-built document AI to automate the process. The transformation not only eliminated overtime costs but also reduced storage and printing costs and improved employee engagement by allowing teams to shift focus from repetitive tasks to higher-value activities like exception handling and statement reconciliations. "We are honored to be recognized by the Newsweek AI Impact Awards for the success our customers achieve using ABBYY Document AI. This win underscores our leadership in intelligent automation and commitment to helping businesses harness the power of AI," said Ulf Persson, CEO of ABBYY. "While this award recognizes our impact in accounts payable and invoice processing, our customers across all functions of the business experience the same results whether it's for claims processing, retail lending, customs declarations, tax preparation, trade finance, customer onboarding, or health records digitalization and prior authorization." The Newsweek AI Impact Awards celebrates the transformative power of AI to solve everyday business challenges and the impact and outcomes of its use. ABBYY will also be attending the Newsweek AI Impact Summit taking place June 23-25, 2025 in Sonoma, California. Learn more about how ABBYY Document AI transforms accounts payable automation by visiting and watching the video About ABBYY ABBYY puts your information to work with purpose-built AI. We combine innovation and experience to transform data from business-critical documents into intelligent actionable outcomes in over 200 languages in real time. We are trusted by more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: accelerate the customer experience, operational excellence, and competitive advantage. ABBYY is a global company with headquarters in Austin, Texas and offices in 13 countries. For more information, visit and follow us on LinkedIn, Twitter, Facebook, and Instagram. ABBYY can either be a registered trademark or a trademark and can also be a logo, a company name (or part of it), or part of a product name of ABBYY group companies and may not be used without consent of its respective owners. View source version on Contacts Editorial Contact: Gina +1 949-370-0941
