The need to integrate reliable character recognition software is increasing as organizations move to digital platforms for data extraction. Because automated intelligent character recognition is saving most companies their valuable time and money while eliminating the manual work. Thus, companies can reduce errors and boost their efficiency.
As digitization continues to evolve, documents available in a written form mostly become unsearchable as they consist of merged raster graphics. If the text is not readable by a computer, then the resolution could be useless. And then organizations have to compile their handwritten notes and transfer them to the digital system manually. So what should companies do?
Companies used to hire resources for writing but that’s all in the past. With advancements in digital technology, Intelligent Character Recognition ICR Software took over the role of writing the texts. This, however, means after an image is captured, the text and image are not only separated but the text is also analyzed to ensure it makes sense. Especially, where two characters such as “8 or B” looked similar, it brought significant improvement to improve the accuracy through digital text recognition. Thanks to ICR, the symbols or letters that look faded can also be recognized and digitized without any problems.
Comparison of ICR Technology And OCR Software
Intelligent Character Recognition ICR is an extension of OCR (Optical Character Recognition) and it was developed to make sense of various handwritten documents that OCR couldn’t. Whereas OCR can extract data from printed documents, ICR acts swiftly to extract data from the handwritten documents with varying fonts and styles. By integrating Intelligent Character Recognition ICR software, the level of accuracy and recognition for OCR can also be improved. OCR provides vast capabilities but its ability is limited while on the other hand, ICR offers limited capabilities with a vast ability.
OCR technology without the help of an advanced AI can’t easily extract data, such as father’s name, DOB, address, etc. As to extract the data, OCR needs a structured document that is well-aligned. ICR software could align the image itself to easily extract the data. Although images taken from a low-quality camera would raise the difficulty of OCR (Optical Character Recognition).
ICR, One Step Ahead of OCR
Similar to before, optical character recognition isn’t good with unstructured documents or images that contain watermarks, or prints on shiny surfaces. However, the data that is not properly structured or with more specific ID types can be extracted by using the ICR software. ICR offers multiple benefits that include saving time, improving accuracy and productivity, better customer service, and maintaining compliance. In coming years, ICR would become more advanced that could provide more accuracy by getting itself trained on complex data types.
How ICR Works on Different Documents?
ICR has experience with various data sets that contain documents with different handwritten signs and letters. Although Intelligent Character Recognition utilizes AI, ML, and neural networks to train it on different data sets. ICR gets mature with time, as ML helps its test and train on data. As it gets more advanced, it continues to convert an extracted data to the MRZ ICR technology is also proven to perform consent verification. The application (Machine-readable zone), so the machine could understand and verify results.
is used throughout the process when someone is opening a bank or online website that belongs to a financial institute.
How Businesses Can Use ICR Technology
Here are various ways ICR technology could help businesses, such as banks, financial institutes, etc.
- The user uploads their Identity document and ICR extracts the name, DOB, address, etc from it.
- Then the user shows their handwritten consent to open an account.
- Finally, the extracted data is verified and results are sent to the host.
The data extraction process is more effective by using ICR software and it could become more intelligent in the coming future by getting more data.
ICR is necessary for companies that have structured or unstructured data and they need to be processed daily. Although its need in the near future will continue to increase, as the software becomes more mature. Banks, financial institutions, or travel businesses could utilize the technology as it could significantly cut down the costs.
Intelligent Character Recognition ICR is an extension of Optical Character Recognition that is used to read and recognize handwritten texts and remove inaccuracies.