Originally posted on May 18, 2022 @ 12:28 pm
Intelligent character recognition (ICR) technology is the advanced form of OCR technology. It is the case that OCR technology emphasises handwritten characters whereas the ICR software enables multiple styles to be recognized by the electronic device so that text recognition can be improved and high accuracy levels can be obtained.
The ICR service software extracts handwritten information easily from multiple images. The advanced version of OCR software works faster, more efficiently, and accurately than the previous version. It should be kept in view that the ICR technology is still upgrading and transforming in order to fulfil the demands of the companies and organisations. It is because the corporate sector is growing daily and it is important to keep up with the competition.
How Is ICR Technology Different From OCR Technology?
It is safe to say that relative to OCR technology, the outcome of the ICR scans sometimes be inaccurate. The logic behind the presently available software technology is that it is constantly growing. Artificial intelligence (AI) and machine learning (ML) backed software use different networks to upgrade themselves. It means that with each new entry and more availability of the data, the software technology keeps upgrading itself. Nevertheless, there can be exceptions that can result in incorrect interpretations.
The ICR software can perceive the new strings of data written in handwriting format which can be developed using the latest updates in AI technology. This kind of approach makes sure that the software keeps improving itself with each new data entry. It means that each new entry will be used to upgrade the productivity and accuracy level of the software. The advancement in technology helps in making relevant predictions regarding the data.
What Is Fascinating About Intelligent Word Recognition (IWR)?
This new kind of technology helps in the recognition and extraction of both printed and handwritten information. The ICR technology extracts information only on the surface level but the latest technology incorporates information from the length of phrases and choice of words. In this way, the technology has the potential to capture data in more detailed ways than ICR and OCR software.
What Is The Mechanism Behind The Working Of ICR engine Technology?
The advanced technology system is used through the integration model. It means that it is incorporated into the system so that it produces results according to the requirements. The required data is scanned and extracted from the submitted records.
How Does The Document Verification System Work In The Banking Sector?
- The client is required to show their ID card before the camera. The ICR technology will scan and capture the data from the given document (Full name, DoB, and other kinds of information).
- The customer can be demanded to submit their consent in a handwritten format or any other way (according to the instructions). The software will scan and capture the desired information.
- In this way, the data will be verified and the organisation will safely keep the results. The client will be informed accordingly.
The automatic way of data extraction procedure minimises time consumption and unproductive data entries through manual labour. This kind of approach not only prevents precious time lost but also eliminates the cost of hiring an employee for the task. The benefit of the captured data is that it can be stored in huge databases for further analyses that help in making suitable predictions for improvement in data management. The insights help with data optimization at a higher level.
What are the perks of ICR algorithm technology?
The ICR software is more effective than the OCR technology because the advanced technology can extract information from multiple styles and fonts. The use of AI and other neural networks supports the process of self-learning. It means that whenever there is a new entry in the system, there is a clear enhancement and upgrade in the learning process that supports data processing and extraction from all kinds of documents.
The OCR software technology is cheaper than ICR solutions software. However, the companies which have the problem that they have huge amounts of information to process every day can benefit from the technology. The technology is designed in a way that it can even capture information from structured and unstructured records. There are also cases where a combination of both ICR reader and OCR technology can be beneficial for the organisation.