fully aware that OcR and IDP has been around, but the “AI native” versions are pretty saturated too
There's certainly a lot of tools that focus on individual parts of the problem (e.g. the OCR layer, or workflows on top). But very few that solve the problem end-to-end with enough flexibility for AI teams that want a lot of control over the experience.
For example, we expose options for AI teams to control how chunking works, whether to enable a bounding box citation model, and whether a VLM should correct handwriting errors.
Most customers we speak with, the evaluation is actually between Extend or building it in-house (and we have a pretty good win rate here).
Not sure about that. There's Llamaindex and plus many other document orchestration frameworks
The world today is quite different though. In the last 24 months, the "TAM" for document processing has expanded by multiple orders of magnitude. In the next 10 years, trillions of pages of documents will be ingested across all verticals.
Previous generations of tools were always limited to the same set of structured/semi-structured documents (e.g. tax forms). Today, engineering teams are ingesting truly the wild west of documents, from 500pg mortgage packages to extremely messy healthcare forms. All of those legacy providers fall apart when tackling these types of actual unstructured docs.
We work with hundreds of customers now, and I'd estimate 90% of the use cases we tackle weren't technically solvable until ~12 months ago. So it's nearly all greenfield work, and very rarely replacing an existing vendor or solution already in place.
All that to say, the market is absolutely huge. I do suspect we'll see a plateau in new entrants though (and probably some consolidation of current ones). With how fast the AI space moves, it's nearly impossible to compete if you enter a market just a few months too late.