Document Crunch Wins 2024 AI Breakthrough Award for “Best Overall Large Language Model”
Contract intelligence firm is only construction solution recognized, following in the footsteps of OpenAI’s win in 2023
ATLANTA, GA, June 27, 2024 – Document Crunch, the construction industry’s leading AI contract intelligence and compliance platform, today announced that it has been named the winner of “Best Overall Large Language Model (LLM)” in the seventh annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global Artificial Intelligence (AI) market today.
This prestigious award in the LLM category, won last year by ChatGPT’s parent organization OpenAI, underscores the importance of bringing practical, purpose-built AI technology and workflow support to construction. As the first construction contract document and compliance platform to win an AI Breakthrough Award, Document Crunch is committed to bringing these tools of the future to all project teams.
“In a year when the AI conversation has dominated every corner of the world, the construction industry was no exception,” said Josh Levy, co-founder and CEO of Document Crunch. “While so many tech companies began building a “search” or “co-pilot” tool in response to this movement, we pride ourselves on bringing deep industry expertise into a structured product experience that actually helps construction companies stay compliant with contract documents throughout the project lifecycle, from the back office right into the project trailer.”
The mission of the AI Breakthrough Awards is to honor excellence and recognize innovation, hard work, and success in a range of AI and machine learning-related categories, including Generative AI, Computer Vision, AIOps, Deep Learning, Robotics, Natural Language Processing, industry-specific AI applications and many more. This year’s program attracted over 5,000 nominations from over 20 countries worldwide.
“Document Crunch is empowering construction professionals to make better decisions, navigate complex legal language, and mitigate risks. Construction is one of the riskiest industries around, and historically, an inability to streamline contract review processes has bottlenecked project progress and even jeopardized safety,” said Steve Johansson, managing director of AI Breakthrough. “Recognizing the critical role contracts play in project success, Document Crunch is empowering construction professionals to navigate and understand their contracts. We’re thrilled to watch them usher in a new era where using LLMs can help de-risk contract compliance and bolster companies’ bottom lines.”
Document Crunch's award-winning technology sets a new standard in AI-powered contract and document analysis for the construction industry. At its core, the platform leverages a sophisticated Retrieval-Augmented Generation (RAG) architecture, seamlessly integrating purpose-built Natural Language Processing models with state-of-the-art Large Language Models. This unique approach allows Document Crunch to not just process construction documents, but to truly understand them within the complex context of construction projects. "Our AI doesn't just read documents; it interprets them through the lens of construction expertise," says Trent Miskelly, COO at Document Crunch. "We're not just applying generic AI to construction problems – we've built an AI that thinks like a construction professional." This innovative system is anchored by a custom-built, construction-specific knowledge graph, ensuring that every insight is not only powerful but also precisely relevant to the industry's unique challenges. The result is an AI solution that doesn't just answer questions, but proactively identifies risks, automates compliance, and empowers project teams to make better decisions faster.
About Document Crunch
Document Crunch is the contract intelligence and compliance platform for construction. Leveraging proprietary AI and machine learning it simplifies construction documents, quickly identifying critical risks and providing guidance so teams can make great decisions throughout the entire project lifecycle. The company is on a mission to empower everyone in the construction industry to understand what’s in their contracts. To learn more, visit: www.documentcrunch.com.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including Generative AI, Machine Learning, AI Platforms, Robotics, Business Intelligence, AI Hardware, Computer Vision, and more. To learn more, visit: AIBreakthroughAwards.com.
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