Intelligent document processing (IDP), as defined by IDC, is an approach by which unstructured content and structured data is analyzed and extracted for use in downstream applications. IDP involves document reading, categorization, and data extraction, by using AI’s processes of computer vision (CV), Optical Character Recognition (OCR), and natural language processing (NLP) on provided texts.[1] Companies in financial services, healthcare, and manufacturing process millions of documents each year and find the process to be painstaking. Document processing is manual, slow, expensive, and error-prone, and data is often spread across disparate sources. As a result, creating and managing a document …
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