Project description
Novel machine learning engine extracts and analyses documents like humans do
Typically, companies use only a fraction of their available data, as most of it is unstructured and hidden in documents such as emails and PDFs. The manual extraction of such data is repetitive, time-consuming, and error prone. Turicode has developed a machine learning engine that can read – and understand – any document like humans do. Once documents are transformed into machine-readable data, companies can easily search, analyse, and process previously hidden data to find new insights. The EU-funded MINT.extract project has set out to revolutionise document processing with a machine learning system that can be applied to any document type in every language. Turicode is advancing the research of data extraction, and commercially enabling large B2B companies to automate document management.
Objective
Around 80% of relevant business data is unstructured. To make valuable information from documents available for further analysis, lots of resources are invested in repetitive, time-consuming, error-prone and costly manual work. Efficient alternative solutions could reduce by 90% the time and costs employed in such tasks by any business. Digitization, i.e. transformation of human-readable documents into a digital form, is among the most common factors driving digitalization and a fundamental pre-requisite for automated text and data analytics. Digitization in EU could add €2.5trillions to GDP in 2025
MINT.extract is a disruptive information retrieval engine that delivers incredibly advanced document analysis capabilities, thanks to our innovative own-developed purpose-built document query language and AI based learning system. Using methods of artificial intelligence to transform unstructured documents into structured representations (database, XML…) and to read document elements (text, images, tables) as a human would do, our technology goes beyond current template-based solutions by automating many routine business processes and enables big data by integrating data from documents. We aim to create a generic learning system that can be applied to a diverse set of document types (e.g. insurance policies, purchase orders...) and delivers fully automated results in a quality that is superior to current manual data extraction.
With MINT.extract we will help businesses to transform their documents to value: making valuable information accessible for everyone. For our company, Turicode. We estimate that 5 years after Phase 2 completion, MINT.extract will bring us additional revenues of €18,7M (x54 revenues of 2018), allowing us to hire 50 new employees and generate €8,25M accumulated profit, reaching a ROI of 3,13.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences databases
- natural sciences computer and information sciences data science big data
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8406 WINTERTHUR
Switzerland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.