
Intelligent Character Recognition: How it Drives the Industry with a Breeze

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Data is the nucleus of any business and how efficiently it is processed is the key to digital transformation.
Organisations are producing piles of documents on a daily basis and are then spending billions on retrieving information from them manually. Optical Character Recognition (OCR), which has been present for a long time aids companies in data extraction but is a simplistic rule-based software. Businesses have to step up their data management efforts to thrive in this age of digitisation. This is where Intelligent Character Recognition (ICR) came as a ray of hope, helping firms process their data efficiently and accurately. It is estimated that the manual efforts to extract that would be reduced to half by 2024 due to the adoption of character recognition software.
Thus, it’s high time to jump from conventional to automated data extraction methods. But what to choose: ICR or OCR? Before investing in them, it is good to thoroughly check both technologies to see the best fit for a business.
ICR and OCR technology are used to recognise characters. Although scanning any document sounds simple and easy, that’s only the case when the document doesn’t need any edits. If it does, it’s a great headache as one has to retype the sections that require editing. That’s where character recognition software came to the rescue.
There are other software too such as Intelligent Word Recognition (IWR), Optical Mark Recognition (OMR), and Handwriting Recognition (HWR). However, they are used for more “niche” purposes as their names indicate. Let’s stick to ICR and OCR!
Two acronyms might mean the same: retrieving text from documents. But they both serve different purposes.
OCR identifies the character and converts it into text format. It then compares the letters of the processed images with the large database. As OCR is an optical technology, it depends on the quality of the image that is processed. And as OCR matches images with the database, it is not suitable for custom fonts or handwritten text. However, if OCR is given a typewritten document, it would then convert the image to text form with great accuracy and speed.
On the other hand, ICR is the advanced version of OCR technology that produces better results when it works with handwritten documents. The intelligent character recognition software uses context, data, and predefined user input to recognise the handwritten content. However, with enough context and great image quality, ICR can retrieve handwritten content from images more accurately and with greater efficiency.
ICR software is integrated into the system that gets input from handwritten documents. The software scans the data and extracts information from those documents. Let’s look at how an ICR technology verifies documents.
Intelligent Character Recognition is a self-learning software which means it understands, modifies, and transcribes information to digital databases every time it’s exposed to various handwriting fonts and styles.
Here are the advantages of using ICR software:
ICR is a remarkable breakthrough when it comes to retrieving data from physical documents and converting it to digital format more intelligently.
Here are how ICR is being used in different sectors:
Leveraging the power of artificial intelligence, Shufti Pro transforms the way you do business by taking document processing to the next level.
Here is what Shufti Pro’s ICR software brings to the table:
Want to know more about how ICR can automate your business?