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FPT IS Granted First US Patent for Innovative Document Processing Technology

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TL;DR

  • FPT IS secures its first US utility patent for document processing tech.
  • Machine learning streamlines document processing, benefiting SMEs.
  • Vietnamese tech firms like FPT IS make global strides in innovation.

FPT Information System (FPT IS), a prominent Vietnamese IT solutions and services provider, has achieved a significant milestone by securing its first utility patent in the United States. This patent, classified as a Utility Patent, is related to innovative document processing technology. The patented technology is currently applied in two of FPT IS’s automation products, namely akaBot and UBot.

Addressing document processing challenges

The need for efficient document processing is a common challenge faced by businesses, including small and medium-sized enterprises (SMEs) in Vietnam and around the world. Bui Dinh Giap, CEO of akaBot, highlighted this issue, stating, “According to our survey, on average, each SME in Vietnam often has to process from hundreds to more than 1,000 documents every day. The amount of important documents such as contracts, invoices, and legal documents that need to be processed are increasing day by day, resulting in a rise in the time and efforts spent on manual management processes and also easily causing errors.”

Innovative machine learning solution

To address this document processing challenge, a group of experts from akaBot applied machine learning technology to automatically deploy and process various input documents, including sales invoices, tax invoices, packing lists, delivery notes, contracts, and more. The technology was designed to intelligently split and classify these documents into one or more sub-documents, streamlining the document processing workflow.

Real-life application and impact

The patented technology has been successfully integrated into akaBot Vision and UBot Invoice, two automation products offered by FPT IS. These products have been in use since 2021 and have served over 1,500 customers. The technology enables these products to intelligently process up to 300-400 documents per day, significantly reducing the time required for the splitting and classifying process from 15 minutes to just 5-10 seconds per document set.

An important milestone

Tran Dang Hoa, Chairman of FPT IS, expressed the significance of this milestone, stating, “Owning a patent granted by one of the most stringent countries in the world helps FPT IS to mark our step in our strategy of bringing our IT products and services to an international level. At the same time, this also proves the solutions made by FPT IS, and Vietnam in general, fully meet high-end global technology standards. The patent in akaBot product sets foundation in FPT IS’s global strategy, affirming the position of Vietnamese technology products globally.”

FPT IS: A leading IT solutions provider

FPT IS is a subsidiary of FPT Corporation, a well-established IT solutions and services provider in Vietnam and the broader region. Over the years, FPT IS has designed and deployed a wide range of IT projects, services, and solutions for key sectors, including the public sector, telecommunications, banking and finance, healthcare, transportation, and public finance.

The achievement of the first US patent for its innovative document processing technology marks a significant step forward for FPT IS as it continues to contribute to the development of cutting-edge IT solutions and reinforces its position as a global technology leader.

FPT IS’s groundbreaking patent for document processing technology showcases the company’s commitment to addressing real-world challenges through innovation and technology. The application of machine learning to streamline document processing has the potential to benefit businesses and organizations worldwide, contributing to increased efficiency and accuracy in handling essential documents. This achievement highlights the capabilities of Vietnamese technology companies on the global stage.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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