OCR for Businesses. Digitization known as the fourth industrial revolution is the most useful and mind-boggling modification of all time. The invention of virtual means of communication i.e. emails or video chat. Now data can be transferred to a different continent in just seconds. Modern technologies have minimized the time delays in the business processes. This has proved as a miracle in the world like one can see what’s happening in his office by staying at home. Also, the video conference or holograms is like physically meeting a person.
Some technologies invented and some have been modified. They were previously present but altered with time. A telephone is the best example of it. First, it was heavy, big, and wired but now it is small and wireless.
Some businesses face problems during digitizing their procedures. Digitizing hard documents, making them computer editable and readable is one of those.
OCR for Businesses –
To automate paper documents into a computer, a character recognition technology is used named OCR. The cutting-edge technology digitizes hard papers from scanned images or JPG files. It can be used on computer-typed and handwritten documents as well. Backed up by artificial intelligence, it can understand even cursive handwritten fonts and scripts.
Below are some characteristics of OCR technology:
- Read all fonts, styles, and scripts of writing
- Can work on structured and semi-structured data
- Multilingual supported means that it can understand all languages
OCR software needs an image of the document simply clicked by the mobile phone for data extraction. OCR works on the document by extracting data from the image and then transmits it to the computer screen. First, it identifies or locates the text containing areas. The whole image does not have the required data there, some blank spots in the image also. Then it removes the black marks from it.
An essential step of OCR data extraction is improving the image quality and standardizing high light exposures. Because images captured from mobile phones have highlight exposures. Then the image is vertically and horizontally aligned for better extraction. The standard and proper alignment help in fast and accurate data extraction results.
How Artificial Intelligence Assists in Data Extraction?
The optical character recognition (OCR) software is trained on thousands of data sets. As the training increases, the AI becomes smarter and matured. It means that more training results in more productive results. By the time the AI becomes mature enough, it can extract characters from unstructured data also. AI helps the OCR in improving its accuracy and reducing the time of data capture.
How can businesses benefit from it?
Digitizing Bulks of Data in a Go
Some businesses like banks have to deal with thousands of papers daily. Managing this bulk of documents is a tough task. These businesses can use OCR for business service and can get their paper documents digitized in seconds. The process of character recognition is fast just like sending an email.
- The huge funds can be saved that were previously spent on data management and manipulation
- Fast data search results: As data is sorted, one required result can be found with a single click
- Fine and delicate data editing: The modification or editing can be done without damaging the beauty of the document
- Take less storage: The data can be stored using a single hard drive. It can save millions of paper records
- Making copies is much easier
- Sending documents from one place to another is faster and convenient
Minimize Manual Data Entry Process
Before OCR, humans manually enter the data on the computer. They have to type each word or character, the process was much time taking and has a high number of mistakes. Using OCR, a business can save these manual efforts and use them for other productive services.
Businesses can also facilitate their end-user by automatic form population. The end-user just has to give an image of the id instead of typing the data manually. This service is mostly used by the identity verification industry.