Dmitry Spasibenko@dspasibenko

According to a study by McKinsey, employees spend almost 2 hours per day searching and gathering information. Manual extraction processes cannot scale to handle large volumes of data. Automated data extraction solves the inefficiencies of manual information gathering. LexaScan is an AI solution that extracts data from text and images, delivering structured JSON format. We used GPT-4 Vision from OpenAI to extract data from text and images. We also used TruLens to ensure that the output is relevant and harmless. The total addressable market for data extraction software was estimated at $1.4 billion US dollars in 2022 and is expected to reach $3.8 billion dollars by 2028. Conservatively, we estimate the serviceable addressable market to be $140 million and the serviceable obtainable market to be $42 million.