In today’s ever- increasing world of digitization, companies in order to innovate and compete effectively must transform their paper into digital data. This is because digital data sets the stage for employing Artificial Intelligence (AI) systems within businesses– not possible when dealing with paper alone. AI has revolutionized the way in which a business stores, archives, processes, and extracts information. Hence AI empowers companies to streamline its processing enabling increased competitiveness and efficiencies. Similarly, an effective Document Management System (DMS) that utilizes AI is the key to making this possible. Hence, it’s worth a mention that Foveonics Document Solutions unleashes the power of AI when helping its clients convert their paper to digital searchable images. This in turn also helps these companies to employ AI within their businesses – which was not possible with paper records.
The first step to digitizing documents is to leverage document scanning technology which transforms paper into digital format. Then a process called automatic classification and processing takes place where Optical Character Recognition (OCR) technology is applied to read data off the paper. This in effect is AI within the document management system where machine learning is being used to identify and process information. Through repetition, AI technology helps to learn the location of data within a document which then can be applied to additional documents of a similar nature.
Then, Data Extraction takes place within the whole process. A DMS which is AI-powered deploys data extraction in order to be able to accurately read information and understand its context.
Finally, an important aspect of AI within a DMS is the potential for Analytics – critical for many businesses. By using data collection and deploying AI techniques such as machine-based learning, predictive analytics and data visualization, businesses stand to gain a lot.
Foveonics Document Solutions promotes AI within its business processes to help its clients become AI-ready. In doing so, both Foveonics and its clients are well-positioned to meet its marketplace challenges. To get started on going digital, contact us.