Intelligent character recognition solutions can help businesses deal with low productivity, low-quality output and other issues in the data extraction process. Business experts want to implement innovative digital solutions to resolve the above issues and streamline the customer onboarding process. The latest solution has AI and ML models which can process large amounts of data and produce high-quality results. For this reason, the more information is available, the more quickly ICR software learns and processes records.
The following article looks closely at the importance of ICR services and how business experts can streamline their workflow with an innovative solution.
Intelligent Character Recognition: Gaining Insight
ICR technology is an upgraded version of Optical Character Recognition (OCR) services OCR solutions only focus on hand-printed characters but intelligent character recognition solutions can process multiple handwriting styles and fonts. With support from AI & ML technologies, the system improves its recognition power and accuracy rates.
Intelligent character recognition systems use Artificial Neural Networks (ANNs) to facilitate self-learning with an entry of all the documents. The system upgrades its database with each new record entry and predicts handwriting styles to produce instant and high-quality writing styles.
Intelligent Word Recognition (IWR) solutions: A Quick Insight
IWR solutions only identify and capture printed and handwritten information but the system can also easily recognise cursive handwriting. Intelligent Character Recognition (ICR) services only identify text on the character level but IWR can process full phrases and words easily. The innovative solution has the power to extract unstructured data and process information with high accuracy.
Business experts must know that OCR & ICR is not a replacement for OCR & ICR technologies because the specialised system was invented for real-world records that have a freestyle. IWR technology can automate data entry operations, identify text accurately and instantly produce high-quality results.
Complete Procedure Behind Intelligent Character Recognition Solutions
ICR technology can easily integrate with pre-existing applications and platforms. The state-of-the-art technology screens information and captures data instantly. The following points highlight the working of ICR systems in the context of a bank:
- The system asks the user to show their ID card before a camera. ICR scanner can screen documents and capture information such as full name, Date of Birth (DoB) and address.
- There can be instances where the ICR solution can ask the customer to provide handwritten consent according to the given instructions. The software will scan and extract the required information quickly.
- After completing the above-mentioned steps, the software verifies information and stores proof in the company’s back office.
The automated data extraction procedure can reduce overall expenditures and eliminate time wastage while streamlining business data entry procedures. This way, corporations can forgo hiring a candidate for data entry positions and use resources in the progress of other corporate projects. The innovative system can help automate data flow systems that can help businesses use information in predictive analytics. This way, businesses can ensure more optimisation and efficiency.
Famous Industrial Applications of Intelligent Character Recognition Solutions
The introduction of ICR solutions has proved to be highly advantageous for real-world applications. Modern-day businesses can use the latest technology to automate form filling. Moreover, innovative technology can automate data extraction processes from all kinds of records (structured and unstructured). The following points highlight the industrial use cases of Intelligent Character Recognition (ICR) services:
- The robotics industry can use ICR systems with robotic process automation to streamline business operations
- Experts can use intelligent character recognition systems with Optical Character Recognition (OMR) to accomplish their objectives
- ICR software can also provide data in electronic formats to use later on
- Professionals can streamline the onboarding procedure with the help of intelligent character recognition systems
- Businesses can perform validation of handwritten consent forms electronically
- ICR has the power to help businesses forgo data entry procedures to save time and money
Best Advantages of Intelligent Character Recognition Solutions
- The latest ICR system can interpret multiple fonts and handwriting styles
- Cutting-edge technology uses Artificial Intelligence (AI) and Machine Learning (ML) algorithms to self-learn and improve output quality
- State-of-the-art systems can easily extract information from structured and unstructured documents
- Intelligent character recognition solutions can process huge volumes of data and facilitate modern-day industries to process large volumes of data without lowering the quality
- The advanced approach can eliminate errors from the final output and saves the company’s resources
The Bottom Line
The application of intelligent character recognition solutions can help businesses fulfil their requirements and achieve business milestones timely. With ICR, corporations can easily process massive volumes of data and receive high-quality results. Previously, extracting information from unstructured documents was challenging. Nowadays, with the latest ICR systems, it has become easier than ever. The latest system not only has the power to eliminate manual procedures but also saves time and company resources.