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Generative AI startup, Orby AI, has secured $30 million in a Series A funding round to further develop its platform and expand its market reach. The company’s platform utilizes a “large action model” technology that enables its AI agents to learn and automate complex business processes. Unlike traditional robotic process automation (RPA) solutions, Orby AI’s generative AI platform is not limited by rules-based systems and can handle various scenarios in complex processes. The company refers to its approach as “generative process automation,” which involves training its large action models using multi-modal inputs like screenshots, clicks, and keystrokes. Human employees are still involved in the process for feedback and handling edge cases.
One Fortune 500 customer example provided by Orby AI showcases how auditors were able to automate the auditing of millions of employee expense receipts that typically took 10-15 minutes per receipt. By installing Orby AI and demonstrating their workflow, auditors were able to create a code-backed workflow in just one iteration. In cases where the AI was unsure about complex cases, it sought feedback from human auditors.
The $30 million in funding will be used for continuous product development and expanding the company’s market presence. Orby AI primarily serves large enterprise customers in industries such as technology, insurance, consumer goods, and real estate, with the most adoption seen in back-office functions like finance, accounting, HR, and operations.
Although generative AI has the potential to significantly enhance efficiency and productivity in data-intensive enterprise workflows, companies must carefully manage the transition to automation and consider the impact on jobs and roles. However, Orby AI’s CEO, Bella Liu, believes that automation will create more jobs and increase the value of human employees by providing them with greater leverage.
The substantial funding received by Orby AI indicates investors’ confidence in the enterprise applications of generative AI. As more companies embrace this technology, Orby AI aims to establish itself as a leader in AI-powered enterprise process automation.