ICR is an enhanced version of OCR Technology. It helps in extracting human-written texts from the image files and helps in capturing the printed characters. The ICR technology is constantly evolving, as new information is poured into the system that improves its accuracy. Varying types of texts contribute to the meaningful adjustments that make technology more reliable.
However, ICR technology is still new and lacks a level of precision – when it’s compared to OCR (Optical Character Recognition). Because the algorithm of ICR technology is still learning new neural networks to strengthen its capability. As more data is fed to the ICR technology, it would be able to learn and process handwritten documents with higher accuracy.
The system practices a self-learning mechanism by learning new handwritten styles and fonts by utilizing an AI-powered model. Thus, it’s able to read different document types that include fonts and styles. Ultimately the ICR technology can predict handwritten texts with higher accuracy.
However, intelligent word recognition is different from OCR and ICR technologies – as it can process documents that are not well-written. Although, with ICR it becomes difficult to identify the data fields. For this reason, IWR technology is employed to execute data entry operations that help in recognizing the text with detail.
How does Intelligent Character Recognition (ICR) Work?
ICR technology usually takes information and extracts data from a handwritten document. Here’s a brief detail to understand the working of ICR technology.
- The user would show their Identity document in front of the camera. The camera takes a screenshot of the document while ICR helps to scan and extract the relevant information from the ID document, such as Name, DOB, etc.
- The user could also upload a consent form that is scanned and extracted with intelligent character recognition online.
- After the verification is complete, the software would send data and results to the bank.
The automated process of data extraction helps businesses in eliminating time and ineffectively processing the data. Moreover, it also saves the cost to hire resources to perform data entry jobs.
ICR Technology: Process Data With Higher Accuracy
ICR technology was introduced in 1993 to automate forms processing. The entire process incorporated by the ICR technology is delivered in three stages. By using the software, the document image is processed through the ICR engine. ICR engine extracts the information and results are processed to automatically validate the output.
Nowadays the application is being utilized by various businesses, as it continues to evolve and proves to be quite fruitful. The ICR technology works effectively with both structured and unstructured documents. Although, before ICR – the entire process was quite complex. However, most businesses opt for ICR service providers for the smooth integration of technology with their systems.
Incorporating ICR Technology With OCR Software
As new technologies are taking their rightful place in the digital landscape, it’s becoming easier to achieve accuracy along with automation. At an industrial level, the ICR technology provides the following applications,
- ICR technology is incorporated with Robotic Process Automation all over the globe.
- To enhance the work process, ICR technology is often used with Optical Mark Recognition (OMR).
- The technology helps with digital document verification for identity authentication of individuals. Due to the capability of this technology, it’s mostly used by banks.
- It also works in order to automate the manual tasks at various industries with numerous forms.
How Could Intelligent Character Recognition Help Companies?
The ICR technology utilizes artificial intelligence to help the system experience different forms of characters and their styles. Further, the ICR technology becomes more advanced as new data is fed to the system. It becomes capable of extracting information from documents with different styles of handwriting. Although few industries such as financial firms or healthcare that receive a lot of forms daily have utmost requirements for the ICR software. Moreover, it works effectively to reduce errors, as compared to doing it manually.
Integrating ICR technology with your system depends on the requirement of each company. However, OCR costs less than ICR that is relatively more expensive. But due to the large requirements of some companies, working with ICR along with the OCR software could process large chunks of data that includes both structured and unstructured data. So, ICR not only helps with automation but also decreases the time and cost that comes with manual labor.