Data handling and analytics, especially large volumes extracted from a variety of documents, have always been a challenging task that has predominantly required proprietary solutions. Open Contracts aims to revolutionize this by providing a free, open-source platform for democratizing document analytics.
The platform, licensed under Apache-2, uses AI and Large Language Models (LLMs) to enable efficient and accurate management, processing, and analysis of document collections. A particular standout feature is its ability to extract layout features from PDF documents and transform them into structured data. Adding to this, Open Contracts can generate automatic vector embeddings for uploaded PDFs and extracted layout blocks.
Open Contracts also hosts a plug-in microservice analyzer architecture, which supports seamless integration of various analyzers to automate document annotation. For tasks that still require human intervention, there’s the powerful human annotation interface with multi-page annotation capabilities.
One key aspect of Open Contracts is its integration with LlamaIndex and pgvector-powered vector stores, which enables intelligent, LLM-powered querying. This allows users to query multiple questions across extensive document collections and receive accurate responses based on both manual and automatic annotations. Such feature makes Open Contracts incredibly useful for things like legal analysis, contract management, and corporate documentation.
Notably, Open Contracts is customizable, giving users the ability to create bespoke data extraction pipelines for specific needs. These tailored extractors are seamlessly integrated into the front-end, allowing for easy bulky queries and data extractions.
Robustness is one key attribute of the platform’s PDF processing pipeline, which consistently generates standardized data from numerous PDF inputs. Open Contracts has plans for extending format compatibility and incorporating Optical Character Recognition (OCR) capabilities, improving its versatility.
Overall, Open Contracts delivers a powerful, user-centered solution in the field of document analytics. By providing an open-source platform, it offers a viable alternative to costly proprietary platforms and stands as a testament to the transformative potential of open-source technology. With its robust offerings and continuous evolution, it’s set to become a priceless tool for professionals in various fields.
