Inaccurate data extraction through manual methods is a hassle and unproductive task. It costs companies a lot of money on a yearly basis. In this age of technological revolution, slow and time-consuming tasks can damage the productivity and brand reputation of the company very quickly. Customers do not want to take services from a company that offers a frustrating customer experience. In this regard, ICR is a service that captures text from the images. It is an advanced version of the OCR technology. Intelligent character recognition is backed up by AI and machine learning algorithms to enhance its efficiency.
The Integration of Artificial Neural Networks (ANN) in Intelligent Character Recognition (ICR) – What is ICR?
The technology can easily extract handwritten text from diverse styles and fonts. This is because AI-powered neural networks make sure that the system is enhancing its experience with each new document entry. It tells that each new document entry upgrades the database of the company enhancing the text recognition power of the technology. Consequently, the intelligent character recognition software can use the previous data to predict the handwriting styles and fonts from the new documents.
Intelligent Word Recognition – A Complimentary Technology
The intelligent word recognition software can capture printed and handwritten text from cursive writing. The intelligent character recognition technology works by recognizing characters but intelligent Word recognition (IWR) full sentences and words. It can even extract data from unstructured documents in greater detail than intelligent character recognition.
It should be noted that OCR and ICR technologies are not substituting each other. Intelligent character recognition is an optimized software that can deal with real-world documents i.e. they are not properly written and have free form. It should be clear that documents that do not have proper data fields do not work well with intelligent character recognition. This is where intelligent word recognition automates the software and captures everything in detail.
Intelligent Character Recognition (ICR) – How Does the Character Recognition Software Work?
The companies implementing the intelligent character recognition program can integrate it easily with the pre-existing technology. It can easily capture information from the documents and organize it in the database.
- The system asks the consumer to display their ID card in front of the webcam. The intelligent character recognition service scans documents and captures data from the official records. For instance, Full name of the customer, date of birth, and address
- In special cases, the system can ask the consumer to write a handwritten note for consent verification and show it in front of the camera
- The intelligent recognition technology will verify the data and send results to the clients within a few minutes
The intelligent character recognition (ICR) system automatically extracts information from the documents which saves time and resources for the business. It means that they do not have to hire a special candidate that can perform data entry for them. The data can be used in the predictive models of the company which can extract valuable insights for better optimization and development.
The Positive Impact of Intelligent Character Recognition on Daily Business Operations of the Company
- Eliminates manual effort completely
- Enhances customer satisfaction
- Boots Productivity Levels
- Enables Regulation Compliance
- Elevates accuracy levels in the outcome
- Pays Attention to Detail
The combination of intelligent character recognition and optical character recognition technologies produces highly efficient results. The integration of AI and ML algorithms assists the system in gaining more experience. In such a manner, the system can capture data from all kinds of organized and disorganized records.
In industries where clients fill documents with handwriting, ICR technology can extract information even from those documents. Thus, the ICR software is quick and effective in handling consumers’ data. In this way, it generates accurate results for industries where mistakes in data can be fatal (i.e. healthcare industry).
Some companies can opt for optical character recognition software when in reality they need ICR. Companies should evaluate the needs of their business and implement the software that can facilitate their business operations. If companies only focus on the cost of technology and not the overall impact of its application, they will never be able to make a sound decision for the business.
Finally, in any kind of sector these days there is a lot of paperwork that needs sorting. In this light, intelligent character recognition is the most efficient and reliable service in the market. The technology is powered by the latest artificial intelligence technology that generates highly accurate results. It has features that enable it to process huge volumes of data. It can even process structured and unstructured records effectively. There is another option that companies can use ICR and OCR combine to use the strengths of both technologies. It is actually good for businesses because it can significantly reduce their manual effort.