IDP does use AI-driven algorithms to transform its extracted data into insights, predictions, and recommendations. For instance, IDP can recognize which document is missing from a student loan application and send an alert to the borrower. Using NLP, IDP can write a summary report based on the extracted information.
For classification, the IDP solution may use Neural Net, Decision Trees, Random Forests, K-NN, and more. For predicting values, IDP can use K-Means, Anomaly detection, clustering, linear, and logistic methods. Regardless of the format, algorithms enable the retrieval of unstructured data.