New quarterly benchmarking calculates accuracy
and costs of major LLM providers using verified industry
evaluation methods
BOSTON, May 13, 2024 /PRNewswire/ -- Indico Data, the
industry's leading solution for the automating of critical intake
workflows across insurance, financial services, and healthcare, has
announced the release of an industry-first benchmark site
evaluating large language models (LLMs) for document understanding
tasks. This landmark analysis is the first of its kind to provide
an objective, unbiased review of the performance of leading LLMs
across essential tasks including data extraction, document
classification, and summarization. Designed for IT executives, data
scientists, and strategic decision-makers, this site is a crucial
asset for anyone relying on concrete, data-driven insights for
technology implementation.
Indico Data has been a guiding force in the AI industry since
its inception, consistently emphasizing practical AI applications
and real customer outcomes amidst a landscape often clouded by
overhype. Indico was the first in the industry to deploy a large
language model-based application inside the enterprise and the
first to integrate explainability and auditability directly into
its products, setting a standard for transparency and trust.
While the vast majority of LLM benchmarking is focused on
chatbot-related tasks, Indico recognized the need to understand the
performance of large language models for more deterministic tasks
such as extraction and classification, and further to understand
the performance and costs based on assumptions related to context
length and task complexity.
"Indico has been committed to fostering transparency and trust
within the AI industry since our founding," stated Tom Wilde, CEO of Indico Data. "Our latest
initiative, the LLM benchmark site, fills a critical gap in the
market by offering factual, unbiased information. This platform is
essential for enterprises, providing them with the reliable data
they need to select solutions that optimally align with their
operational requirements"
Key features of the site include in-depth evaluations of each
model's performance under various operational conditions, providing
enterprises with a clear understanding of which models offer the
best efficiency and value. By comparing metrics such as relative
runtime, extraction accuracy ranking, and classification accuracy
ranking, the LLM benchmark site allows users to assess and select
the most suitable models for their needs. The site also includes
complete detail of the benchmarking methodology for peer review and
comment. Indico will run the benchmarks on a quarterly basis. You
can access the benchmark site here - https://indicodata.ai/llm/
About Indico Data
Indico Data automates critical workflows for enterprises in
document-intensive industries, including insurance, financial
services, and healthcare. With the Indico Intelligent
Intake™ Solution, organizations can free their experts
from tedious, manual tasks, allowing them to drive better decisions
with better data. Visit https://indicodata.ai to learn
more.
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SOURCE Indico Data