A Leap Forward in Time: From Humble Beginnings to Industry Leader
In the realm of Artificial Intelligence (AI), few companies have witnessed such a meteoric rise as HerculesAI, formerly known as Zero Systems. Since 2017, this pioneering firm has been tirelessly working towards automating professional services, with an initial focus on the legal industry. Little did they know that their years-long dedication to building large language models would soon make them a household name in the tech world.
The Right Place at the Right Time
The emergence of ChatGPT in late 2022 catapulted Large Language Models (LLMs) into the spotlight, and HerculesAI found itself perfectly positioned to capitalize on this sudden surge in interest. As CEO Alex Babin recounts, "It was maybe eight or nine months before ChatGPT, and I remember speaking to our clients, explaining to CIOs what an LLM is — and no one cared." This period of relative obscurity was about to change forever.
A Series B Investment to Fuel Further Growth
In a move that underscores the company’s growing momentum, HerculesAI has announced a $26 million Series B investment. This significant funding will enable the company to continue building on its recent successes, further refining its solutions, and expanding its reach within the industry.
From Humble Beginnings to Industry Leader
HerculesAI’s journey began in 2017 with a focus on automating professional services in the legal sector. Over time, they developed large language models that were running on edge devices for compliance purposes by around 2020. These early models boasted half a billion parameters to 2 billion parameters, marking a significant milestone in the development of their LLM technology.
The Emergence of Multi-Agent Systems
The company’s recent successes can be attributed, in part, to its innovative approach to automating professional services. By developing multi-agent systems on top of their core services, HerculesAI has managed to achieve remarkable results in areas such as intelligent data extraction, data transformation, and data verification.
Intelligent Data Extraction: The Foundation of Modern Automation
Intelligent data extraction involves the use of AI algorithms to extract relevant information from documents. This is a crucial step in automating professional services, as it enables organizations to streamline their workflows and reduce manual errors.
Data Transformation: Building Rules and Structures Automatically
The second key function of HerculesAI’s LLM technology is data transformation. By building a set of rules and structures around extracted data automatically, the company has created a powerful tool for professionals in various industries.
Data Verification: The Holy Grail of Automation
Data verification is perhaps the most critical aspect of automating professional services. By comparing information extracted from documents with the source materials, HerculesAI’s LLM technology can flag any issues that conflict with the source materials automatically.
A Multi-Agent System for High-Value Processes
The company’s multi-agent system enables it to automate high-value, continuous processes or workflows that require decision-making. This is particularly important in regulated industries such as law, insurance, and financial services.
The Rise of Regulated Industries: A Key Driver of Growth
HerculesAI has reported 4x growth over the last year, with a significant presence among top law firms in the U.S. (30% of the top 100) and other Fortune 500 customers such as Mercer, Standard & Poor’s, and State Farm.
Plans for the Future: A Lean Approach to Growth
In an unexpected move, CEO Alex Babin has announced plans to stay lean, investing more in refining internal processes than adding employees. "I don’t see why we need to hire more people," he said. "We will actually invest more in our internal processes and automation."
Conclusion
HerculesAI’s rise to prominence is a testament to the power of innovative thinking and dedication to building cutting-edge technology. As they continue to drive growth and expansion, one thing is certain – this pioneering company will remain at the forefront of the AI revolution.
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