In this technological age, intelligent character recognition (ICR) is getting famous with every passing day to automate workflows. ICR technology is used to recognize text, barcodes, and other related graphics elements. In addition to retrieving data from databases, ICR can also be used to send commands to machines or to identify faces in photographs. ICR recognition software is used to generate and print labels for packages and other objects automatically. The label is recognized using sophisticated algorithms that recognize text and symbols. This is crucial for the labels to be precise and readable. The transition to intelligent character recognition is under progress as technology advances to provide greater accuracy and recognition rates.
What is ICR recognition?
An extension of Optical Character Recognition (OCR) is Intelligent Character Recognition (ICR Recognition). While ICR services enable mixed handwriting styles and fonts to be taught by computer systems to improve text recognition and accuracy, OCR services concentrate on hand-printed letters.
ICR recognition software also makes use of barcodes to recognize the item and follow its activities. ICR is useful for keeping product history, at the time of product returns. Moreover, ICR software creates scanned images and PDFs for later use. The most commonly used ICR software applications include Google Sheets, Microsoft Excel, and QuickBooks. Because of its user-friendly layout, it has the ability to create invoices and reports for businesses.
Use-Cases of ICR Recognition Software
There are a number of applications for ICR recognition software, but here are some mostly used listed:
- It is used for security checks to recognize and track people in images, such as in courtrooms, interrogation rooms, and at an airport
- To make customers service and other interactions automated, character recognition software useful
- Predicting user behaviour for targeted advertising in an offline or online setting
- ICR software is widely used in the banking sector for the verification of documents
How does ICR Recognition Work?
A system that accepts input of a handwritten document incorporates ICR recognition software. It extracts the data from the documents after scanning the information there. Let’s have a glance at how ICR recognition technology functions in the bank for digital document verification.
- Customers will present their ID cards to the expert in front of the camera. ICR recognition software scans the document and gathers data from the identity document such as name, DOB, etc.
- Customers might be asked to upload a handwritten consent.
- Both of the information submitted by customers will be verified and the results will be sent to the organization.
Businesses can eliminate the inefficiency and time-consuming data entry processes associated with manual data entry with automated data extraction. ICR software help business, save time and cost by eliminating the employees’ need for data entry. Using the extracted data, an automated data flow system can be built that can increase efficiency and enhance the overall performance of the system by facilitating predictive modelling over large datasets.
Benefits of ICR Recognition Software
A neural network by Artificial Intelligence helps the system to assess and improve ICR as each dataset is received. Intelligent Character Recognition continuously faces new types of data, which allows the software to update its database with new datasets automatically.
- ICR software can expedite the completion of forms and the retrieval of data from digital records.
- It can also recognize and detect suspicious activities or people.
- ICR reader has enhanced data entry.
- Data retrieval and search are much faster and more efficient.
- ICR has reduced the cost for businesses associated with data entry operations.
Drawbacks of ICR Recognition Software
ICR technology has some drawbacks as well, some of which are mentioned below:
- Hostile organizations can misuse ICR, to steal personal information.
- ICR software is not favourable for low-cost applications because it is costly.
- Documents must be checked they are manually correct.
- For beginners, intelligent character recognition software might not be perfect and may make errors from time to time.
Using sophisticated record recognition software, detailed examinations can be undertaken by gathering paper data and transforming it into forms that are machine-friendly. Organizations benefit greatly from the combination of OCR software and ICR since they may make up for one another’s shortcomings and produce better results.
The ability to show ICR models is advantageous to users as the software improves with more data and performs better overall. Every time the ICR recognition software reads through transcribed textual styles, it improves at spotting contemporary composing styles and as a result, updates its database.