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Cognaize is a developer of an artificial intelligence (AI)-based financial software designed to process documents such as balance sheets and income statements. The company specializes in AI-based financial spreading, automated trustee report processing, and processing of invoices through AI to extract data from these reports. The company also provides solutions to process data labeling, balance sheets, and income statements automatically. Cognaize's platform uses AI models trained on financial documents and an intuitive user experience that seamlessly integrates into a user's daily operations.
Cognaize was founded in 2018 by Vahe Andonians and has locations in New York City; Frankfurt am Main; and Yerevan, Armenia. The company was founded on the belief that AI and deep learning could make insight extraction from unstructured data in the financial industry easier and faster.
Cognaize's platform uses artificial intelligence, computer vision, and natural language processing (NLP) to develop a hybrid intelligence approach to develop AI for financial services. The hybrid intelligence approach keeps a human "expert" in the loop throughout the document automation process paired with the deep-learning AI technologies, which have been trained on financial models and over 1.3 million financial documents, including loan applications, SEC filings, ESG-related documents, presentations, and trustee reports. The platform is developed to bring data to the fingertips of financial analysts for decision-making and to improve the results of those decisions.
The platform also allows users to customize workflows and the insights generated from their financial documents and data. Further, AI models can be included in the workflows of the platform to increase optimization, while the platform can evaluate those AI models and their results based on the data sets and production. To ensure control over the privacy of the platform's data, auditability, and compliance-related requirements, Cognaize can be deployed in a public or private cloud or on-premise.
