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Wednesday, February 7, 2024
HomeTechnologyICR Technology: Your Guide To Understanding Its Relevance In 2023. 

ICR Technology: Your Guide To Understanding Its Relevance In 2023. 

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Take this concept, and apply it to not only scanning handwritten letters but identifying them into a distinct style and recording it in data, that is what ICR technology is all about! 

This guide is an attempt to simplify the explanation of this verification tech tool into organized basics for learning. Understand and explore what it is, the uses it provides, and its benefits. Let’s begin!

What Is ICR Reader?

Intelligent character recognition is a software developed in the late 1990s, far more advanced than simple ocr. It is an automated machine learning AI tool that scans and recognizes handwritten letters (Alphabetic characters) and numerals from documents. It can identify an array of different writing styles and italics. 

The self-learning system in ICR reader is called a neural network because it is based on the idea of AI neurons that adjust and learn accordingly.

To explain it further, machine learning allows AI to identify new styles even if there is no previous data stored. It will on its own, search, collect data and figure out what kind of style it is. 

Type Of ICR Algorithm That Is Integrated: 

The algorithm used for our services is *Supervised Machine Learning* (SL). But what do I mean by this?

Icr algorithm that makes the data collection from handwritten documents requires machine learning to adapt to new writing styles and italics. SL (Supervised learning) is a subcategory of artificial intelligence and machine learning. Through the cross-validation process, the model feeds the input to the algorithm to categorize data as accurately as possible. This type of model helps ICR services firms to rely on the right and accurate data outcomes. 

Differences Between OCR vs ICR – Are they the same?

Although they are closely linked and have the same basic function of scanning written text, they are still different. 

OCR – (Optical character recognition)

It is a simpler scanning tool limited to scanning typed, clear handwriting, or printed documents. It isn’t efficient for identifying different handwriting styles and evolving font styles. In other words, OCR is unable to learn and stay ahead of changing times in development.

ICR – (Intelligent character recognition)

This is an enhanced software with machine learning integrated into its icr technology algorithm. A great tool that can serve you till the end without slacking behind with advancements in tech. The magic is in its learning neural network that can execute data searches to identify any handwritten style or font to be invent. This opens countless opportunities for verifying every type of document for the companies. Efficient and independent! 

Thus, the function remains the same, the ‘ocr vs icr’ difference exists in its ability to adapt and self-learn. 

Functions Of Scanner ICR 

Let’s discuss the uses and functions of integrating scanner ICR in online businesses. 

  1. Electronic Document Verification 

One of the main functions of using ICR is the verification of documents. The document submitted by a user might contain forgery or be fake. AI helps in confirming if the document is original by authentication. Furthermore, it validates the information further by cross-checking data from local or global databases, assisting in establishing an identity. 

  1. Replace Manual Data Entry 

Manual entry of data is facing a dead end. Why?

Manual work requires more time, and more investments to hire employees and it increases the risk of human error. This can cost companies to compromise on their efficiency. 

Thus, to reduce spending money on employees, and make outcomes more accurate and fast scanner ICR is the solution. 

  1. Boosts Productivity 

Amongst these uses, icr algorithm has the ability to identify the style of handwriting in an instant. This boosts productivity and makes the working experience seamless for companies. 

Benefits Of Character Recognition Software For Verification

How are the above-mentioned functions helping enterprises in their verification process and eventually generate higher ROI (Return on Investment)?

Let’s explore some of the significant advantages of operating character recognition software. 

  • Better Customer Experience 
  • Tackles Identity Thieves 
  • Assists Forensic Department 
  • Improved Data Security 
  • Boosts Sales 

Best Tools & Software For ICR Services:

  • One of the advanced tools available in ICR services according to “hitechnectar” are: 
  • Cloud ABBYY OCR SDK
  • A2iA Mitek
  • Parascript FormXtra.AI
  • OmniPage Engine

Summary

ICR technology is based on a neural network which is a part of machine learning. It is an AI-powered tool to scan and verify handwritten documents. The significant reason it stands out from ocr is its ability to identify various invented writing styles and fonts by doing an array of searches and matching the data against it. This is only the beginning of AI advancements. The market of tech tools is only going to skyrocket in this digitalization era! 

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