Optical Character Recognition (OCR)
OCR (Optical Character Recognition) is a technology that can analyze text and convert it into a format that can then be processed by machines.
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What is Optical Character Recognition (OCR)?
Optical Character Recognition (OCR) is the process of scanning or converting handwritten or typed text and converting that information into a format that can be processed by machines. With OCR, almost any image that contains text can be converted into data that can be manipulated, edited, and used.
In the past, OCR was used as a means to digitize old newspapers and magazines that were created and published before the advent of the technology. This process not only simplifies storage, but also helps ensure that the information is accessible to everyone. Earlier OCR processes required significant intervention and analysis to isolate and authenticate manually scanned images. In addition, earlier generations of OCR were limited in terms of the number and types of fonts that the software could “understand.”
OCR and AI
OCR is being revolutionized by the use of artificial intelligence (AI). This not only captures and analyzes data, but also takes appropriate action based on the information gained. Some examples of the combination of OCR and AI include streamlining the invoicing process for businesses based on scanned data. Similarly, OCR and AI can be used to review contracts by ensuring that parts of the contract are automatically reviewed.
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