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Monday, October 3, 2022

ICR Software: An Innovation in the OCR Technology

In this age, where data breaches and other fraudulent activities are so common, extracting and recording the data in digital format has become challenging. Those days are no more when data was extracted manually and kept in paper format. Digitization demands robust solutions that automate the workflows while not compromising their security. This is exactly where AI-powered ICR comes to the rescue.

ICR acronym for Intelligent Character Recognition is the extended form of OCR (Optical Character recognition). OCR focuses on printed data while ICR allows different handwriting styles and fonts to be learned by the computer to enhance text recognition. ICR is a more involved and detailed technology and can recognize even complect styles and fonts as compared to optical text recognition. ICR software is continuously learning neural networks developed by AI, so its results still lack correctness when compared to optical character readers.

Working of ICR

Intelligent Character Recognition has removed all the gaps that Optical Character Recognition formulated while extracting and processing the data from the documents. To speed up the operations in this digital age, businesses use ICR software that automates the extraction as well as recognition of handwritten documents. Here is how ICR works.

  • The user is asked to display their ID in the camera and the ICR technology scans and extract information from it such as their name and date of birth.
  • The user might be asked to submit a handwritten consent depending on the system’s requirement. The consent document is then scanned and the information is extracted afterward.
  • Both of the extracted information is then verified and the result is provided to the company.

Applications of ICR

Joseph Corcoran invented the ICR software in 1993 to automate form processing. The process involved three steps in which the image of the document was captured and then processed by the software. After that information was obtained using ICR, and in the last step, the results were processed that authenticated the output automatically. With the passage of time, this invention did wonders in everyday business applications. Now, all modern businesses use ICR software to automate form processing. Identification of the unstructured data was a tricky task when there was no ICR. However, the character recognition app can now identify any kind of data whether it is cursive handwriting or structured or unstructured data.

ICR has the following uses at the industrial level.

  • (RBA) Robotic Automation processes across the globe are adopting the ICR process.
  • Mobile ICR is being used in OMR to automate the operations of the workplace.
  • It converts the extracted data into digital format.
  • The ICR mobile app also automates operations at the industrial level.

Benefits of ICR

Intelligent Character Recognition services can interpret various styles and fonts, thus it makes the Optical Character Recognition technology more effective. The AI and neural networks that ICR makes use of help the system to understand things from its own experience. Whenever any data is given to ICR, it upgrades and enhances its learning process to obtain information both from the unstructured and structured data whether it is in cursive or digital handwriting.

No matter it is a healthcare platform or the financial sector, ICR helps them to process customer data quickly and efficiently. As there is no space for errors in any data, ICR reduces the errors ad helios businesses enter much data with minimal errors. Moreover, ICR not only automates operations such as the verification processes but also enhances inter-company communications globally. ICR services are available on mobile and web platforms, scanned them, and convert into a digital format so that they can be accessed from anywhere anytime. It can be used in different organizations. For instance, arenas and airports use ICR technology to verify the identity of the travelers and also validate the details present on the traveler’s ticket.

Final Thoughts

To sum it up, ICR is a great technology that businesses can use to extract and recognize the data from the documents while reducing the need for extra employees. But deploying this technology totally depends on the requirements of any business. There is no doubt that OCR is cost-effective when it is compared to ICR software. But if the organization deals with huge volumes of data that are either structured or unstructured, then ICR along with OCR would be the best option as it not only diminishes the need for manpower but also provides error-free results. And when combined with AI, ICR software is a great bet for businesses that want to generate revenue and reach heights.

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