Best AI tools for data extraction in 2024

Oh, hey there! Are you searching for the best and most reliable AI tool to extract or parse data? You've arrived at your destination.

Gone are the manual days when we copied and pasted data onto an Excel. It's all about letting our AI pals do the heavy lifting.

The day ChatGPT reached 1 million users in 5 days, we knew our lives would change. AI has integrated into every industry including real estate, marketing, food delivery, and so much more. And, data is the backbone of every organization; a company cannot progress or scale without data.

Data parsing is an important process that needs to be done so that companies can analyze data, provide insights, and make better decisions.

Repeat after me:

"Manual data extraction is time-consuming and should be banned."

Integrate an AI parser into your business processes and watch how tiredness turns into productivity.

What is an AI parser?

AI parser's definition if you are explaining it to your boss:

An AI parser or AI data extraction tool is a tool to automatically extract data from different types of documents and export it seamlessly to another application.

What's important to know is that AI parsers are here to make your lives easier. There are various types of AI data extraction tools on the market with different specifications; you need to choose the correct one for your industry. And who's leading the pack this year? Maybe you guessed it --- Parseur!

Let's take a look at the best AI tools for data extraction in 2024.

The Contenders: Top AI Parsers of 2024

In this section, I will present you with the best AI parsers so that you can make a good decision by the end of this article.

Note that in this article we are focusing on the AI parsers that extract data from documents like emails and PDF.

• Parseur
• Nanonets
• Docsumo
• Rossum
• PDF.ai

Why does Parseur top the charts?

OK, OK, OK, I recognize we are both judge and jury here. But bear with us! We tried to be as fair and objective as possible for this.

We're proud to announce that Parseur claims the 2024 throne with its exceptional AI parsing capabilities, which are easy to use and suitable for any industry.

Some of our customers say that it's their go-to choice for businesses seeking a parsing tool in the AI realm.

What makes Parseur the best AI data extraction tool?

Compared to other AI data parsers, you don't need to train our AI model extensively for it to perform effectively.

• It has two parsing engines: AI-based and template-based
• It extracts data with high accuracy.
• It understands characters in more than 160 languages.
• It extracts data from tables from different sources quickly and without coding.
• It supports emails, PDFs, CSVs and many other document types.
• It is one of the easiest tools to use according to our customer reviews

Parseur also offers predefined mailboxes for many industries, such as accounting, food delivery, real estate, and resumes.

Once Parseur receives your document, the AI engine will automatically recognize the type of document and extract the data.

We also provide the option to use template-based extraction to specify which data to extract and which to ignore. This option is great if your documents always have the same layout.

Can I use the parsed data afterward?

Definitely. Parseur has native integration with Make, Zapier and Power Automate, among others, allowing you to create an automated workflow from Parseur to any application of your choice.

You can also download your data as Excel, CSV or JSON.

How much money can I save with Parseur?

Great question! We have this little tool that you can use to figure out how much time and money you can save.

On average, Parseur is considered up to 4x cheaper than the other AI data extraction tools and up to 97% cheaper than doing extraction by hand!

Nanonets

Nanonets is an intelligent document processing tool integrated with AI that processes documents such as driving licenses, IDs, or passports and invoices.

Nanonets provides automatic layout parsing and the ability to build your AI model as well.

Even if you're not a machine learning wizard, you can craft and customize models by training the AI.

Training your custom model, however, might feel like waiting for a wizard's potion to brew, as you need a minimum of 10 annotated documents, and on the free plan, you're limited to creating just 5 labels (fields).

Docsumo

Docsumo comes with pre-trained models mostly for invoices and IDs, and you can also train a custom AI engine to extract the desired data.

The tool offers the power to train its AI model but buckle up for a steep learning curve, especially if you're not a tech whiz. To unlock the secrets of this AI wizard, you need a minimum of 20 PDFs parsed documents---consider it your magical spellbook.

Rossum

Rossum focuses on the financial services industry and is the perfect companion for large account departments. Rossum flaunts an AI engine that's a quick learner, ready to be trained to parse different types of PDF files like a seasoned pro.

SMB players -- Rossum might not be the best fit for you as it requires a big learning curve to train its AI engine. Their pricing is not public which can be a red flag for some.

PDF.ai

PDF.ai superpower lies in providing a quick access to surface specific data from your documents, making life easier for anyone needing rapid information retrieval from PDF documents only.

However, there's a catch -- PDF.ai is a loner. You can only chat with your PDFs, you can't download the extracted data or seamlessly transfer it to another tool.

Comparison table: The best AI data extraction tools

So... Which AI parser should you invest in?

I would say "Parseur" shamelessly but, we want you to choose the right AI tool for your business needs. Ask the right questions and then decide which one to use.

Parseur offers a Free plan with all features included so you can give it a try yourself.

Parseur isn't going anywhere -- take your time ;)

last updated on April 9th, 2024