FormX.ai is an AI-powered tool designed for automating data extraction, thus enabling businesses to streamline their processes, minimize errors, and enhance efficiency. The system uses Intelligent Document Processing (IDP) and Optical Character Recognition (OCR) to extract data from various types of documents such as invoices, receipts, ID cards, address proofs, business certificates, and more. The extracted data can be effectively utilized across various sectors such as insurance, finance, retail, human resources, logistics, and healthcare. For instance, insurance companies can automate document handling and data extraction, protect sensitive information, automate outpatient claims, and analyze asset portfolios. Similarly, businesses in the retail sector can automate receipt data extraction, centralize customer information, and make accurate product recommendations. FormX.ai also offers API-ready data extraction, allowing seamless integration of the tool into existing systems. For developers, the tool provides a low-code environment, simplifying data extraction and reducing the need for manual entry. Additionally, FormX.ai enables businesses to automate and digitize medical records in the healthcare industry to ensure data accuracy, improved patient care, and eliminate human errors. The tool is trusted by international companies and supports various document formats including invoices, receipts, purchase orders, bank statements, contracts, applications, shipping orders, membership applications, annual reports, certificates, licenses, and bookkeeping.