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The world today is driven by data and business gripple with huge paperwork. The time invested in accessing the huge unstructured business data can be a back burner. Manual processing calls for a big-time investment and is prone to human error. The advancement in technology has fortunately led to the convergence of optical character recognition and AI, resulting in the new transformation called intelligent document processing that has turned into the need of the hour, making document processing easier, faster, and more efficient. In this current article, we will explore the AI OCR for intelligent document processing (IDP).
What is optical character recognition (OCR) technology?
The optical character recognition technology is used to digitize physical documents and access them in easily editable formats. Anything from printed to handwritten documents can be scanned to convert them into computer-readable and editable text. The technology lays the groundwork for automation, eliminating the need for manual data entry. However, this technology suffers from a few limitations, like errors in digitizing complex documents and poor quality scans, leading to a few inaccuracies impacting data-driven business decisions. The artificial intelligence technology empowered with machine learning algorithms trained on vast databases. The integration of AI and OCR technology emerged as a new revolutionary transformation in document processing and is known as intelligent document processing.
AI OCR for intelligent document processing.
 Improves accuracy :
Advanced AI uses machine learning algorithms to extract data with high accuracy compared to traditional OCR. The algorithms learn to adopt text accurately, even when displayed in varying fonts and sizes. The AI-powered OCR for intelligent document processing understands context to interpret data. The IDP technology can easily process complex, unstructured data like handwritten documents and extract meaningful and correct information. The IDP technology undergoes continuous learning from every document processed, improving accuracy.
Cost reduction :
 By using AI OCR for intelligent document processing, the originations can see cost reductions associated with manual data entry. With increased accuracy, the AI-powered OCR can improve the operational efficiency of the business, allowing organizations to process more documents with fewer resources. Digitization of business documents saves space, eliminating the need for physical storage. The IDP technology features scalability without needing any additional infrastructure and frequent software updates like traditional OCR. AI-powered documents promise high accuracy, reducing the chances of errors and saving the costs of rework.
Reduce Errors :
AI-powered OCR for IDP can adopt a wide range of document types, fonts, and layouts with its machine learning capabilities compared to traditional OCR. IDP technology features contextual reading and can perform better at categorizing information for business analysis. It has built-in error recognition and correction capabilities, reducing the need for manual intervention. The advanced technology is designed to stay unaffected by issues like smudges and watermarks on scanned documents and focuses only on extracting accurate text from challenging documents.
Scalability:
The AI-powered OCR is equipped with deep learning models that can recognize a wide range of text formats and are scalable across different document types. It is designed to process large documents efficiently by optimizing resources. The technology can adjust different document types, offering efficiency and flexibility. It is an ideal choice for organizations that need to process diverse documents on a large scale.
Language translation capabilities :
AI OCR technology for IDP can easily translate complex documents in different language structures, even with unique fonts and handwriting. The enhanced language translation capabilities of IDP are empowered by deep learning algorithms to achieve the highest accuracy in text recognition. The technology leverages multilingual datasets and advanced neural network architectures to recognize text in different languages.
Summarising :
AI OCR technology not only extracts texts from complex documents but can also understand the context using advanced NLP techniques, analyzing the semantic context and structure of documents. Unlike traditional OCR, which functions to extract text from documents, IDP technology can summarize lengthy, complex documents, highlighting the key points that need human attention. The technology goes beyond character recognition and drafts meaningful summaries, which makes the congestive capability valuable in the research and legal sectors. By using the IDP technology over traditional OCR, you can gain the advantage of enhanced summarization to quickly grasp the essence of lengthy documents.