How OCR is changing Big Data in Finance - Banking industry
The finance - banking sector has strict rules and regulations for data management and processing. To manage a large amount of data optimally and accurately, finance - banking businesses have come to Optical Character Recognition solution (OCR).
OCR and the importance of digitization
The second decade of the 21st century witnessed the trend of paperless offices being the sustainable objective of many corporations around the world. Along with that came the development of digitization and OCR technology that saved money, optimized human resources, and built modern and stable business models.
Apply OCR in the race to digitalization
Manual jobs are experiencing the automation trend, posing an urgent challenge for every business in Industry 4.0. Optical Character Recognition (OCR) is a powerful tool in this situation to continuously and comprehensively keep up with the digital transformation.
AI and breakthrough solutions in the Insurance industry
Industry 4.0 brings the Insurance sector a new driving force: Insurtech with Big data, Artificial Intelligence (AI), etc. The development of these technologies creates solutions to optimize business processes, making the integration with technology at the forefront of the insurance industry to cut down ineffective procedures.
Why should business leaders change their perspective on AI?
According to Gartner Group, with the current growth of AI, by 2021, more than 80% of technologies applied in businesses will be integrated with AI. Therefore, a proper view on AI of managers will have a great impact on the development of businesses.
The potential of AI applications in the future
IDC forecasts that spending on AI solutions will increase to $97.9 billion by 2023, twice as much as the expense in 2019. 73% of CEOs believe AI is vital to their business currently.
AI helps businesses withstand the pandemic
The Covid-19 pandemic has changed many business activities. Some sectors such as tourism and aviation have difficulty due to a sharp drop in demand when the Retail, Finance - Banking industry, etc. have a concern about a completely different problem. These enterprises have to flexibly change their operation to meet the increasing needs of customers, especially in the online environment.
AI - The technology that helps defeat the global economic impact of the pandemic
AI-powered technology solutions allow many contactless activities. Especially in the recession, AI is an outstanding technology, promising to help eliminate the influence of this pandemic on the global economy.
eKYC - The first "brick" of digital banking
While Internet banking only allows customers to carry out some simple actions such as payment, money transfer, account balance inquiry, etc. digital banks can provide many other online services such as bill payment, credit, online savings, etc.
Facial recognition market is expected to reach $ 22.7 billion by 2027
The Covid-19 pandemic inadvertently opened up a chance for technology companies to develop many biometric solutions and disseminate them in people's daily lives. Besides fingerprint identification, facial recognition technology is attracting the attention and investment of many large companies and corporations around the world.