ICR is an advanced form of Optical Character Recognition services. ICR is employed to fetch data in the form of handwriting from images while OCR apprehends characters from printed document files. Intelligent character recognition is in the evolution phase as the technology is continuously transforming to make the services more relevant for customers.
What Is ICR Technology?
Intelligent Character Recognition (ICR) is employed by computer systems to learn various fonts and handwriting styles during the process to enhance correctness and recognition states. While compared to optical character recognition, ICR still lacks accuracy in the process.
The main reason behind this is that software is continuously learning neural networks developed by artificial intelligence. The more the information is present, the better the ICR software would function because the system would be able to learn and process handwritten files.
Moreover, ICR Software can translate a huge range of information through AI-supported neural network systems. With each new font and style of data, the software updates its data. It means whenever a new kind of file is employed by ICR, new as well as old information is deployed to forecast handwriting, fonts, and styles, etc.
How Does ICR Work?
By assimilating ICR Technology into your system, the information can be scanned and fetched from documents:
- Customers will show a government-issued identity document in front of a camera. ICR software will record the file and fetch information like name, address, date of birth, etc.
- The user would be asked to submit handwritten consent as well. The information from the consent form will also be recorded and fetched
- The extracted information will be identified and the results will be shown to the user
The digitized data entry method digitally minimizes the time and correctness of results. With time, it minimizes the cost needed to onboard employees for the work being done. Fetched information in the ICR app can further be deployed by the companies to develop a large database which can then be employed by the companies to improve the system.
While ICR technology and OCR are both advantageous in their place, some businesses cannot afford to have both software. Optical character recognition is relatively cheaper than ICR reader. If you are a business that manages a lot of information on a daily basis that may incorporate structured and unstructured files then you need both records.
ICR vs. IWR
Intelligent Word Recognition (IWR) not only records and fetches printed and handwritten information from documents, but it is also employed to learn bad handwriting.
You should know that ICR technology functions on a character level but IWR fetches data from phrases and words. It develops a piece of detailed data on the file.
While IWR is extremely crucial, it still does not replace ICR technology and OCR software. ICR technology is advanced software that is deployed to function real-world documents written in cursive handwriting. ICR technology can not work on documents whose information field is not verifiable.
Despite all this, IWR is deployed for entering data operations and to identify text.
Use Cases of ICR Technology
ICR services are gaining a big range of uses by various companies. Before this advanced technology, it was not possible for businesses to function unstructured files. But now as advanced technology has made the process simpler, any kind of information can be recorded and data can be fetched from documents of every type like structured, unstructured, and cursive handwriting. Following are some benefits of ICR recognition:
- It is deployed to authenticate the identity of users in banks and other financial institutions
- To record and fetch data from any file present in any type of font and style
- ICR technology is adopted by robotic process automation (RPA) around the globe
- To record consent documents, Intelligent Character Recognition (ICR text recognition technology) is employed
- To digitize workplace functions, ICR technology is deployed to create optical mark recognition
Benefits of AI Text Recognition
ICR technology is a step forward from OCR service facilitates the companies with a lot of benefits. Based on artificial intelligence and neural networks, ICR technology helps the software to learn on its own. Thus, with each attempt of data extraction, the software increases its efficiency. Any business be it healthcare or any financial business, manage with many documents on a daily basis. ICR technology helps them to perform processes on user data. It can eradicate information with a reduced probability of error therefore, is very advantageous to firms that want to fetch data with high security.
Conclusion
ICR technology assists computer processes to process any kind of font and style. Along with many businesses that deploy it, banks employ it to identify their users. ICR technology minimizes human efforts and facilitates the accuracy of the work.
