The Future of OCR Automation and How to Leverage It in Your Business

OCR Automation

You’ve probably already heard plenty about the potential impacts of AI on our jobs and the economy. While some worry AI threatens to take away our jobs, more cool-headed analysts see the upside.

As well as contributing as much as $15.7 trillion to the global economy in the next few years, AI tools are predicted to enhance and create far more jobs than they threaten. One way in which AI is already boosting productivity and bottom lines in some professions is through OCR automation.

Optical Character Recognition (OCR) is a technology that involves computers scanning documents to present easily readable text and data. Now, with added automation, OCR has the potential to make your job much easier. Here’s what you need to know.

The Current State of OCR

OCR data capture has been around for a while now. Super-fast OCR tools allow anyone to quickly digitize paper documents and extract essential information from them.

This is currently used for a wide range of processes, such as extracting data from receipts and invoice processing or for streamlining data entry. Now, AI is increasingly being used to speed up these processes, automate them, and make them more reliable.

OCR Automation Trends

Thanks to AI text and image automation, we can now rely on OCR tools to scan, convert, and summarize massive amounts of data instantly and with high precision. Deep learning technology is empowering our existing OCR software to continuously improve.

Meanwhile, so-called “real-time OCR” allows for tools to capture and process text data instantly, as soon as it appears on a screen or document. This allows for live video analysis like never before. AI has also improved OCR’s ability to understand documents.

Now, even formats like tables, forms, and graphs can instantly be digested by an OCR tool to provide you with all of the input data you need, automatically.

Leverage OCR Automation in Your Business

You can start using OCR for business automation today. Get started with a free online tool such as those found at the .net OCR library, which offers the capabilities that should more than meet the needs of your average small business.

You can even use the above library to integrate OCR into your existing tools, such as invoicing platforms, record management systems, or sales pipelines. In finance or banking, you can use it to speed up accounts payable processes or run checks on transactions.

In legal contexts, you can use it to review contracts or index documents. In retail, OCR automation will empower faster sales tracking and more accurate inventory management. The list goes on!

Tomorrow’s Trends, Today

OCR automation is not an untested, novel technology. It’s a well-established tool that’s finally gaining the traction it deserves. Now, you can use it to automate mundane tasks and focus on growing your business.

For more tech insights into the trends that will define the future of work, we have got you covered. In our Internet & Security section, you will find expert run-downs on tomorrow’s trends, today.