Ike Kavas recently returned from an event in Zurich, where he discussed a topic that’s top of mind for many employers today: the impact of generative artificial intelligence on the economy.
Generative AI is a set of algorithms used to create seemingly realistic content like text or audio, such as ChatGPT, an AI-powered language model.
The technology is also top of mind for Irvine-based Kofax, which last year acquired Ephesoft Inc., a document processing firm founded by Kavas in 2010.
Ephesoft’s cloud-based content capture and analytics software helps businesses classify, sort and extract data through digital document capture.
“We believe we can add value and reach to more customers with our technology under Kofax’s umbrella,” said Kavas, who’s now senior vice president of AI and innovation of the combined company.
Ephesoft and Kofax’s technologies are expected to work together to eliminate manual, task-oriented processes in the modern workplace.
Earlier this year, Kofax relaunched its Kofax Marketplace, a digital hub of apps, tools and templates for advanced integration of automation software.
“Today, a major concern for our customers is the pressing need to maximize ROI on any investment in automation technology,” Bill Mariani, VP of ecosystem at Kofax, said in a statement.
“The Kofax Marketplace provides the ideal location to access in-depth learning opportunities and ready-made assets that connect easily and seamlessly with existing investments in key platform elements such as Kofax TotalAgility, RPA and more.”
Users can access prebuilt solutions for business challenges and achieve automation goals in less time, Kofax said.
In an article written for Forbes, Kavas predicted AI software that generates content will become the norm.
He cited a study indicating 33% of marketers are using AI-based software for copywriting or content generation, with 82% reporting that content is just as good than human-generated content.
