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In today’s dog-eat-dog business landscape, companies that can iterate product development faster and get products to market quicker are those that stand the best chance of success. Thanks to the growing trend of digital transformation, these faster speeds are usually due to better applications and technologies.
Optical character recognition (OCR) is the use of technology to convert machine-printed or handwritten text into digital text. There are a variety of business applications for OCR, including invoices, business cards, receipts, bank checks, and more. The term intelligent character recognition (ICR or iOCR) is sometimes used for advanced OCR technologies specifically used for multiple fonts and styles of handwriting.
Robotic process automation (RPA)—the use of software "robots" to automate manual, rules-based processes—offers a variety of advantages, including higher productivity and lower costs. With potential ROI between 30 and 200 percent in the first year alone, it's no surprise that companies would be interested in scaling their RPA environment.
Artificial intelligence and automation are two trends that promise to revolutionize the workplace, so what happens when you bring them together? "Intelligent automation" is the use of AI technologies to automate business processes and workflows. It encompasses a variety of topics in AI and machine learning, including robotic process automation (RPA) and natural language processing (NLP).