Montréal, October 22, 2019 – LexRockAI, which specializes in the development of decision-making tools using artificial intelligence (AI) to enhance the value of unstructured textual data, will have its office in Place Ville-Marie, in Montréal, within the Montréal FinTech Station. Irosoft will officially launch LexRockAI, its new AI division, during the Canada FinTech Forum, which will take place at the Palais des congrès de Montréal, on October 21–23, 2019.
LexRockAI is a startup with a solid foundation of more than 20 years of experience in AI, particularly in natural language processing (NLP) and information research (IR). It develops algorithms and products capable of locating, identifying, and extracting relevant information within documents. It has an AI innovation laboratory and an important portfolio of intellectual properties and products.
Irosoft and its LexRockAI division are extremely active members of the AI ecosystem. They collaborate with different industrial and academic partners, particularly IVADO, MILA, and the CyberJustice Laboratory of the University of Montréal.
The main focus of LexRockAI is the development of products that use AI to meet the needs of four industrial fields: legal, insurances, financial, and regulatory compliance. LexRockAI aims to quickly offer its products, adapted to the different sectors, including:
- a product to analyze, extract data, and review collective insurance contracts within the collective insurance sector;
- a product to analyze and review contracts for legal dispute departments within the financial sector, insurance companies, and law practices;
- a system for the active learning and annotation of documents to enhance unstructured data, which enables algorithms (NLP/ML/DL) to mine them.
“We are very proud to be presenting LexRockAI, an Irosoft division, at the Canada Fintech Forum. From now on, many things will come together. Thanks to our products, we plan on turning LexRockAI into a key player on the international stage in the insurance and legal fields. LexRockAI has to be seen as a startup with more than 24 years of experience, expertise, functioning products, an action plan, partners, clients, and, above all, an amazing team with a happy blend of fresh faces and grey hair. It’s a wonderful Quebec story with an international scope. I’m very happy to start this new adventure. Buckle your safety belt! We’ll conquer the world!” explained Alain Lavoie, Irosoft’s president.
“I’m very motivated and feel particularly privileged to be able to contribute to the creation of this Irosoft ‘spin-off.’ By inheriting Irosoft’s AI algorithms, LexRockAI will be able to quickly commercialize concrete solutions within the insurance and legal fields thereby enhancing data in unstructured documents,” adds Paul Gamache, Director of the LexRockAI division.
About Montréal FinTech Station
Montréal FinTech Station is a project launched by Finance Montréal. Its purpose is to gather startups and offer them services and programs, such as mentoring, legal services, accounting, technologies.
Founded in 1995, Irosoft is a technological and services company that specializes in enhancing structure and unstructured data. It develops tools, algorithms, and products based on natural language processing (NLP) as well as modern machine-learning and AI techniques. These enable its clients to transform simple information into useful and easily exploitable data.
With a team of specialized and experienced consultants, Irosoft also offers a large variety of consulting services in the fields of information management and digital transformation. Furthermore, Irosoft qualified as a supplier for the Government of Canadian, which enables it to offer the government AI services, solutions, and products.
Based in Montréal (Canada), an important hub of AI development, Irosoft is deeply involved in the IT ecosystem and is always aware of the latest trends and methodologies in terms of AI. Irosoft’s main markets are the financial and insurance industry (FinTech), the legal field (LegalTech), and the government sector.
SOURCE: Irosoft Inc.
President Irosoft Inc.
RELATED LINKS: http://www.irosoft.com; https://LexRock.AI