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How Optical And Intelligent Character Recognition Works And Its Benefits

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How Optical And Intelligent Character Recognition Works And Its Benefits

Companies are using manual processes for Know-Your-Customer (KYC) verification, contracts, patient reports, order forms, and insurance claims.

For them, the paperless work environment is still a dream whilst digitization is getting on. 

Document processing technology has been around for a long time ago, it serves a single purpose or sticks to a certain document like invoice processing. Paper documents received by banks, healthcare providers, and insurance companies are stuck anywhere in the document bundle. Not only this, documents in different templates from different vendors, with non-standard field signatures, photographs, legal-sized or letter-sized, and rent orientation also stuck.  

What is Optical Character Recognition (OCR)? 

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OCR is the procedure that converts image-to-text into a machine-readable format. For example, if an employee scans a receipt or a form, the software saves the process as an image file. Employees can’t use any text editor to edit, explore, or word count in the image file.

OCR struggles with distortions and non-standard document formats that lead to inaccuracies that hit productivity poorly and hinder straight-through processing rates. It captures just analog and singular moments that can’t be copied, shared, saved, or archived in the cloud. The information can’t be reassembled or broken down into pieces to build new stories and metadata is completely lost at this moment, as it were. 

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Companies are looking for ways to capture metadata and have the potential to reach a paperless world through intelligent automation with OCR. That enables organizations to use end-to-end processing and capture through recognition to validation, classification, verification, and integration with EHR, ERP, SCM, CMS, and core platforms. 

How to Get Started with OCR?  

OCR is a very useful way to process diverse documents like PDFs, photocopies, images, handwritten documents, grainy photographs, and faxes with end-to-end encryption. The OCR technology identifies field extraction of relevant data like customer name and country. Moreover, systems also recognize them through different categories like rule, content, and image-based. 

Verification can also be done manually and IDP implementation changes the whole scenario of departments. There are strategies that organizations can utilize to ensure the successful implementation of advanced techniques. 

What is Intelligent Character Recognition (ICR)?

ICR is the most advanced way of optical character recognition. It is used to extract and interpret all types of information from scanned forms and documents like IDs, invoices, and contracts. It uses computer algorithms to process and recognize letters or numbers and scanned images. 

By using machine learning and natural language processing, it has the potential to cope with unstructured documents and those areas, where the information is not always in the same order or layout. Whereas OCR turns a scanned invoice into an undifferentiated character stream, ICR has the potential to identify which characters represent the company name, date, and amount.

How to Get Started with ICR?

Getting started with ICR requires hands-on training for CFOs and business analysts to understand this.  Employees that take part in document verification require training on how they can assist. Although it will open them for more skillful tasks or duties. Due to these challenges, a clear and concise structure is needed to implement ICR successfully. It means structured and unstructured change management and IT  or business functions alignment are crucial. 

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ICR initiatives will be needed to align with automation which requires collaboration between the automation center of excellence and the central data capture team. It will be helpful to embed IR in the automation as this can streamline cross-linking. 

To monitor and measure the ICR solution’s effectiveness, KPIs will be needed to proactively define, identify and revise through the progress of implementation. Some of the best practices are providing robust skillful training with historical documents. Not only this validating the correctness of data labels that are used to train the models with documents available to train the model. 

Major Difference Between OCR and ICR

ICR is a part of OCR but the major difference is usually not set up to identify handwriting. It usually scans the paper and typed documents that turn into texts so they can be categorized and searched easily. 

OCR-scanned texts can easily be copied and pasted while on the other hand, ICR technology focuses on printed or handwritten materials that use more complex fonts. 

How OCR and ICR Help Large Organisations? 

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ICR and OCR help large organizations in diverse ways: 

Improve Data Accuracy and Fast Entry Speed

Manual data entry is labor-intensive, prone to human error, and costly. ICR and OCR support companies by digitizing data sources and eliminating manual data entry bases. 

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Workflow Automation 

Businesses rely on high paperwork volume and scanning helps them to increase productivity and saves time. For Example, invoices and bills entered into workflow automation provide an instant pipeline from receipt to digital delivery to the required departments. 

Summing up

Physical documents can be damaged or lost, and an OCR and ICR offer a digital backup that takes a required space. The digital information can search quickly versus manually searching the documents in the storage area.

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Next-gen chips, Amazon Q, and speedy S3

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AWS re:Invent, which has been taking place from November 27 and runs to December 1, has had its usual plethora of announcements: a total of 21 at time of print.

Perhaps not surprisingly, given the huge potential impact of generative AI – ChatGPT officially turns one year old today – a lot of focus has been on the AI side for AWS’ announcements, including a major partnership inked with NVIDIA across infrastructure, software, and services.

Yet there has been plenty more announced at the Las Vegas jamboree besides. Here, CloudTech rounds up the best of the rest:

Next-generation chips

This was the other major AI-focused announcement at re:Invent: the launch of two new chips, AWS Graviton4 and AWS Trainium2, for training and running AI and machine learning (ML) models, among other customer workloads. Graviton4 shapes up against its predecessor with 30% better compute performance, 50% more cores and 75% more memory bandwidth, while Trainium2 delivers up to four times faster training than before and will be able to be deployed in EC2 UltraClusters of up to 100,000 chips.

The EC2 UltraClusters are designed to ‘deliver the highest performance, most energy efficient AI model training infrastructure in the cloud’, as AWS puts it. With it, customers will be able to train large language models in ‘a fraction of the time’, as well as double energy efficiency.

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As ever, AWS offers customers who are already utilising these tools. Databricks, Epic and SAP are among the companies cited as using the new AWS-designed chips.

Zero-ETL integrations

AWS announced new Amazon Aurora PostgreSQL, Amazon DynamoDB, and Amazon Relational Database Services (Amazon RDS) for MySQL integrations with Amazon Redshift, AWS’ cloud data warehouse. The zero-ETL integrations – eliminating the need to build ETL (extract, transform, load) data pipelines – make it easier to connect and analyse transactional data across various relational and non-relational databases in Amazon Redshift.

A simple example of how zero-ETL functions can be seen is in a hypothetical company which stores transactional data – time of transaction, items bought, where the transaction occurred – in a relational database, but use another analytics tool to analyse data in a non-relational database. To connect it all up, companies would previously have to construct ETL data pipelines which are a time and money sink.

The latest integrations “build on AWS’s zero-ETL foundation… so customers can quickly and easily connect all of their data, no matter where it lives,” the company said.

Amazon S3 Express One Zone

AWS announced the general availability of Amazon S3 Express One Zone, a new storage class purpose-built for customers’ most frequently-accessed data. Data access speed is up to 10 times faster and request costs up to 50% lower than standard S3. Companies can also opt to collocate their Amazon S3 Express One Zone data in the same availability zone as their compute resources.  

Companies and partners who are using Amazon S3 Express One Zone include ChaosSearch, Cloudera, and Pinterest.

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Amazon Q

A new product, and an interesting pivot, again with generative AI at its core. Amazon Q was announced as a ‘new type of generative AI-powered assistant’ which can be tailored to a customer’s business. “Customers can get fast, relevant answers to pressing questions, generate content, and take actions – all informed by a customer’s information repositories, code, and enterprise systems,” AWS added. The service also can assist companies building on AWS, as well as companies using AWS applications for business intelligence, contact centres, and supply chain management.

Customers cited as early adopters include Accenture, BMW and Wunderkind.

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and London. Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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HCLTech and Cisco create collaborative hybrid workplaces

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Digital comms specialist Cisco and global tech firm HCLTech have teamed up to launch Meeting-Rooms-as-a-Service (MRaaS).

Available on a subscription model, this solution modernises legacy meeting rooms and enables users to join meetings from any meeting solution provider using Webex devices.

The MRaaS solution helps enterprises simplify the design, implementation and maintenance of integrated meeting rooms, enabling seamless collaboration for their globally distributed hybrid workforces.

Rakshit Ghura, senior VP and Global head of digital workplace services, HCLTech, said: “MRaaS combines our consulting and managed services expertise with Cisco’s proficiency in Webex devices to change the way employees conceptualise, organise and interact in a collaborative environment for a modern hybrid work model.

“The common vision of our partnership is to elevate the collaboration experience at work and drive productivity through modern meeting rooms.”

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Alexandra Zagury, VP of partner managed and as-a-Service Sales at Cisco, said: “Our partnership with HCLTech helps our clients transform their offices through cost-effective managed services that support the ongoing evolution of workspaces.

“As we reimagine the modern office, we are making it easier to support collaboration and productivity among workers, whether they are in the office or elsewhere.”

Cisco’s Webex collaboration devices harness the power of artificial intelligence to offer intuitive, seamless collaboration experiences, enabling meeting rooms with smart features such as meeting zones, intelligent people framing, optimised attendee audio and background noise removal, among others.

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and London. Explore other upcoming enterprise technology events and webinars powered by TechForge here.

Tags: Cisco, collaboration, HCLTech, Hybrid, meetings

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Canonical releases low-touch private cloud MicroCloud

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Canonical has announced the general availability of MicroCloud, a low-touch, open source cloud solution. MicroCloud is part of Canonical’s growing cloud infrastructure portfolio.

It is purpose-built for scalable clusters and edge deployments for all types of enterprises. It is designed with simplicity, security and automation in mind, minimising the time and effort to both deploy and maintain it. Conveniently, enterprise support for MicroCloud is offered as part of Canonical’s Ubuntu Pro subscription, with several support tiers available, and priced per node.

MicroClouds are optimised for repeatable and reliable remote deployments. A single command initiates the orchestration and clustering of various components with minimal involvement by the user, resulting in a fully functional cloud within minutes. This simplified deployment process significantly reduces the barrier to entry, putting a production-grade cloud at everyone’s fingertips.

Juan Manuel Ventura, head of architectures & technologies at Spindox, said: “Cloud computing is not only about technology, it’s the beating heart of any modern industrial transformation, driving agility and innovation. Our mission is to provide our customers with the most effective ways to innovate and bring value; having a complexity-free cloud infrastructure is one important piece of that puzzle. With MicroCloud, the focus shifts away from struggling with cloud operations to solving real business challenges” says

In addition to seamless deployment, MicroCloud prioritises security and ease of maintenance. All MicroCloud components are built with strict confinement for increased security, with over-the-air transactional updates that preserve data and roll back on errors automatically. Upgrades to newer versions are handled automatically and without downtime, with the mechanisms to hold or schedule them as needed.

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With this approach, MicroCloud caters to both on-premise clouds but also edge deployments at remote locations, allowing organisations to use the same infrastructure primitives and services wherever they are needed. It is suitable for business-in-branch office locations or industrial use inside a factory, as well as distributed locations where the focus is on replicability and unattended operations.

Cedric Gegout, VP of product at Canonical, said: “As data becomes more distributed, the infrastructure has to follow. Cloud computing is now distributed, spanning across data centres, far and near edge computing appliances. MicroCloud is our answer to that.

“By packaging known infrastructure primitives in a portable and unattended way, we are delivering a simpler, more prescriptive cloud experience that makes zero-ops a reality for many Industries.“

MicroCloud’s lightweight architecture makes it usable on both commodity and high-end hardware, with several ways to further reduce its footprint depending on your workload needs. In addition to the standard Ubuntu Server or Desktop, MicroClouds can be run on Ubuntu Core – a lightweight OS optimised for the edge. With Ubuntu Core, MicroClouds are a perfect solution for far-edge locations with limited computing capabilities. Users can choose to run their workloads using Kubernetes or via system containers. System containers based on LXD behave similarly to traditional VMs but consume fewer resources while providing bare-metal performance.

Coupled with Canonical’s Ubuntu Pro + Support subscription, MicroCloud users can benefit from an enterprise-grade open source cloud solution that is fully supported and with better economics. An Ubuntu Pro subscription offers security maintenance for the broadest collection of open-source software available from a single vendor today. It covers over 30k packages with a consistent security maintenance commitment, and additional features such as kernel livepatch, systems management at scale, certified compliance and hardening profiles enabling easy adoption for enterprises. With per-node pricing and no hidden fees, customers can rest assured that their environment is secure and supported without the expensive price tag typically associated with cloud solutions.

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and London. Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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Tags: automation, Canonical, MicroCloud, private cloud

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