Digital transformation is a must for businesses. With the rise of deep learning (DL) since 2010s, data extraction solutions relying on DL can achieve much higher rates of automation compared to iOCR solutions. Aim of iOCR was to help businesses handle paper based processes without any human intervention by automating data extraction from paper documents. This machine readable data would then be used to help companies automatically process documents. Intelligent character recognition technology was developed in the 90s relying on OCR and pattern matching to automate extracting machine readable data from documents.
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