UiPath Named a Leader for Second Consecutive Year in the Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix Assessment 2024

UiPath (NYSE: PATH), a leading enterprise automation and AI software company, today announced that it has been named a Leader in Intelligent Document Processing for the second consecutive year in the Everest Group Intelligent Document Processing (IDP) Products PEAK Matrix Assessment 2024. UiPath is a Leader among the 26 technology providers assessed in the IDP PEAK Matrix, a report that analyzes AI technologies such as optical character recognition (OCR), computer vision, natural language processing (NLP), and machine/deep learning to classify and extract information from structured, semi-structured, and unstructured documents.

The Everest Group IDP Peak Matrix also places the UiPath Business Automation Platform as the highest designated Leader in vision and capabilities, and for market impact. In the report, UiPath is also the only company to be named a Leader in analyses for banking and insurance IDP products.

AI is embedded throughout the UiPath Business Automation Platform, offering customers limitless potential to accelerate their businesses with unique, specialized AI capabilities from UiPath and through the openness and flexibility of the UiPath Platform to include the wider AI ecosystem. Specialized AI is trained using an organization's data and optimized for its specific needs for more accurate and tailored results.

“UiPath is an established leader in the IDP market and our position in the Everest Group IDP Peak Matrix validates why customers are choosing UiPath for AI and automation solutions to gain business insight from any structured or unstructured document,” said Graham Sheldon, Chief Product Officer at UiPath. “UiPath IDP is in high demand and we will significantly expand our document understanding and communications mining capabilities to process documents and communications that are integral to nearly every enterprise workflow. In addition, our new UiPath LLMs, DocPATH and CommPATH, are powerful tools extensively trained for their specific tasks to allow businesses to unlock greater value from AI."

“UiPath has reinforced its position as a Leader in the Intelligent Document Processing (IDP) PEAK Matrix Assessment 2024, owing to continuous investments in capability expansion to process a variety of documents across industries. Additionally, its strong growth, investments in generative AI-powered Autopilot to create ML and NLP models using natural language prompts, and pre-trained models for unstructured use cases led to this inclusion,” said Vaibhav Bansal, Vice President, Everest Group. “Ease of use of the platform, ability to integrate its IDP capabilities with RPA and other applications, and accessibility of training and documentation are some of the key strengths highlighted by its clients.”