Snowflake Announces LLM-Based Document AI and More at Annual Conference

Snowflake, a data cloud company, has launched Document AI, a new interface that allows enterprises to extract useful information from their documents, regardless of format, location or other variables. The AI-powered solution is built using a large language model (LLM) that processes natural language queries and unstructured data to provide insightful analytics. Snowflake acquired Poland-based Applica, an AI platform for document understanding, in September 2021, and is using the technology to power the new Document AI. Additionally, the data cloud company has launched new tools, such as ML-powered SQL functions and cost optimisation tools, that work to optimise the usage of data. The implementation of Document AI, in particular, has the potential to accelerate Snowflake’s growth, given that over 90% of the world’s data is expected to be unstructured over the next five years.