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Customer data is an invaluable asset of every business, and how to handle and store it is a crucial issue. The solution to standardize data – FPT.AI Reader can recognize and extract data automatically from thousands of documents in just a few seconds, even from handwritten documents, completely replacing the traditional manual data entry method.
Practical usages of OCR in data recognition and extraction
Extracting and processing information on documents is a challenge for many businesses, especially for ones in industries where there are huge loads of documents every day, such as services, healthcare, public administration, etc. Handling input data seems like a simple task, but it takes up a significant amount of time. Besides, mistakes made during this process can cause unnecessary problems later for both businesses and customers.
Optical Characteristic Recognition technology (OCR) was born and solves the problem of data extraction excellently. According to statistics published on Nanonets, the market volume of OCR is expected to reach $13.38 billion in 2025. This growth is accelerated by the global digital revolution in business operations. Companies leverage the maximum strength of OCR to enhance productivity, reduce labor costs and save time for humans. Thanks to OCR, 80% of data extraction and data entry workload is completed with only 20% of the workforce.
OCR has been efficiently tackling the problem of extracting information on typed documents, but how to recognize handwriting is still unsolved. Major challenges in identifying handwriting, such as variations in fonts and typefaces of each person, unclear or sticky handwriting, misaligned text or poor quality of handwritten documents, can lead to notable difficulties in recognizing text and converting it into digital form.
Identifying handwriting is not only a challenge for tech companies around the world but also a serious problem for tech companies in Vietnam – not many of them are bold enough to cope with this problem. However, after researching intensively Vietnamese characteristics with many accents and strokes between letters, FPT.AI Reader introduces a solution to recognize and extract handwriting with the highest accuracy in Vietnam.
FPT.AI Reader – An advance in handwriting recognition & processing using photos of documents
Recognizing handwriting is considered great progress for businesses in digitizing documents synchronously and comprehensively. With printed documents, FPT.AI Reader easily handles about 80% of the data extracting and entry process, with an accuracy rate of 95% and above. However, identifying handwriting requires much more advanced technology. Instead of using the letter recognition model, FPT.AI Reader integrates machine learning and deep learning models with superior computer vision technology to recognize handwritten numbers and letters, with an accuracy rate of 80 – 85%.
Moreover, FPT.AI Reader is equipped with a model to check correctness of information, thereby detecting unusual data on information fields, such as those missing letters, incorrect dates, etc. The model also can cross-check information within a set of documents, or collate customer information on businesses’ CRM systems. Besides, FPT.AI Reader is built with a warning feature to label information fields that have a substandard accuracy rate, in order to make it more convenient for humans to check.
At this time, FPT.AI Reader has been implemented to automate the procedure of processing handwritten documents as input data for many businesses in Insurance, Finance, Banking, etc., helping to handle handwritten forms such as medical records, payment orders, etc.
FPT.AI Reader efficiently solves problems of handwritten data entry, such as high rate of mistakes, and the waste of time and human resources. Moreover, when humans convert documents, some sensitive information can leak out, such as personal information, financial services, health conditions, etc. In the Banking industry, customer information being insecure can lead to unfortunate incidents.
FPT.AI Reader is the optimal tool to recognize and extract data in the market today. The entire cumbersome process of digitizing data will be streamlined, bringing long-term benefits to every business in their comprehensive digital transformation, enhancing service quality and creating breakthroughs in operation efficiency for sustainable growth.
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Experience solutions of FPT.AI at https://fpt.ai/vi
Hotline: 0911886353
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