HerculesAI’s Path to Language Model Pioneering

HerculesAI, previously known as Zero Systems, has been innovating in professional services automation since 2017, starting with the legal industry.

Their early adoption and development of large language models (LLMs) put them ahead of the curve, especially when ChatGPT spotlighted LLMs in late 2022.

A Pioneer in Large Language Models

HerculesAI began its journey with LLMs years before they became a hot topic. Focused initially on the legal industry, they’ve been creating LLMs since around 2020, managing models ranging from half a billion to 2 billion parameters, operating on edge devices for compliance.

Despite the groundbreaking work, the company struggled to capture interest regarding their LLM capabilities until late 2022. “It was maybe eight or nine months before ChatGPT, and I remember speaking to our clients, explaining to CIOs what an LLM is — and no one cared,” said Alex Babin, CEO and co-founder of HerculesAI.

Rapid Growth Post-ChatGPT

The release of ChatGPT in late 2022 shifted perceptions rapidly, causing a spike in interest around LLMs. HerculesAI’s pre-existing expertise allowed them to benefit from this newfound attention, resulting in a surge of growth over the past year.

Today, HerculesAI boasts several models performing three vital functions: intelligent data extraction, data transformation, and data verification. These capabilities enable the company to build a multi-agent system to automate high-value, continuous processes requiring decision-making.

Intelligent Data Services

HerculesAI’s intelligent data extraction pulls data from documents efficiently, while their data transformation builds rules and structures around this data automatically.

iThe data verification is crucial. It compares the transformed data with source materials such as regulations, policies, and contracts, flagging any discrepancies for employees to address.i

CEO Alex Babin emphasized, “It’s really the holy grail when you can compare information extracted and then transform it to the source of truth, whether that’s regulations, policies, contracts, laws or anything.”

Industry Applications and Customer Base

HerculesAI’s technology benefits regulated industries such as legal, insurance, and financial services. They have reported 4x growth over the past year, with 30% of the top 100 law firms in the U.S. using their solutions.

iMoreover, HerculesAI’s client list includes prominent Fortune 500 companies like Mercer, Standard & Poor’s, and State Farm.i

Efficient Operations

Despite securing a $26 million Series B investment led by Streamlined Ventures, Babin plans to keep the company lean, prioritizing internal processes over expanding the workforce.

“I don’t see why we need to hire more people. We will actually invest more in our internal processes and automation. We have to eat our own dog food and use our own products to make ourselves more scalable,” Babin stated.

Investor Confidence

The Series B funding round saw participation from Proof VC, Thomson Reuters Ventures, Alumni Ventures, and several industry angels.

This investment is set to boost HerculesAI’s momentum, proving investor confidence in their innovative approach and growth potential.

Continued Innovation

With the fresh investment, HerculesAI aims to continue refining its models and processes, further enhancing its automation capabilities in professional services.

HerculesAI’s foresight in developing large language models well ahead of the trend has paid off, positioning them as leaders in the AI and automation space.

Their continued innovation and strategic growth are likely to keep them at the forefront of the industry.

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Emmanuel Kesse

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