Maximizing Profits with AI: The Case for Smart Scanning Technologies in Modern Business - Insights From the ABBYY Experts

AI with ROI: Why businesses should care about intelligent capture

March 22, 2018

The current wave of innovations brought about by Artificial Intelligence (AI) is automating business processes and improving efficiencies. This means that all forward-looking businesses should be analyzing the value they stand to gain from AI adoption. Artificial intelligence (AI) will contribute as much as $15.7 trillion to the global economy by 2030, according to a research by PwC. That enormous value creation comes from productivity gains resulting from automating business processes and augmenting the existing labor force, as well as increased demand for higher quality and more personalized AI-based products.

Despite the - potential benefits from AI adoption, many organizations have been reluctant to make investments in AI because they have difficulty tracking true ROI on such investments. AI requires a fundamental shift in how organization collects, processes and leverages its data for intelligent automation. This calls for update of IT infrastructure and internal processes, changes people’s roles in the organizations, while the positive results of these changes may not be visible in the short term. This makes such changes risky and delays the return on the investments.

However, it is not always the case. Intelligent Capture is a good example of AI technology with proven ROI.

Modern intelligent capture lies at the core of AI transformation since it creates a new way of collecting data. It can read, understand and extract information and insight from any unstructured data source, with a level of accuracy good enough to tackle high-volume, repeatable processes like accounts payable or sales order processing.

Click here

Accelerating Business Processes

What is so special about intelligent capture technology is that organizations use different types of unstructured data - documents, images, emails or web content - and can therefore benefit from the intelligent capture. What makes it even more important is that capture technology not only provides data for processing ongoing transactions, it is also a source of training datasets for machine learning algorithms. This smart platform help to automate business processes and leverage AI to practice and “learn” allowing companies to focus more on their strategic goals and ultimately on improving their bottom line.

Effective and Efficient Data Processing

AI requires training while training requires labelled datasets. If, for example, an organization wants to train AI to control and manage expenses, it needs to ensure that expenses are properly recorded and data from all incoming invoices and receipts is processed accurately and timely. This is exactly what intelligent capture does— capture data with accuracy and precision, which could be used for training of AI systems. Modern intelligent capture technology extracts data from billions of forms, financial documents, medical records, IDs and other sources in thousands of organizations. Efficiency of this transactional data extraction is proven by strong ROI coming from early payment discounts, no late fees, and higher customers’ satisfaction.

Increasing the Value of Data

For today’s businesses, structured data is the new currency with a value and a price. Before the digital transformation revolution, the value of capture technology mostly came from streamlining operations and saving processing costs. That explains why the technology was used mostly in business critical transactions. With the widespread adoption of AI, the value of data has grown dramatically as new opportunities emerged for leveraging AI to find new insights or create competitive advantage from the same set of data. For example, in not so distant past, a driver license information was used only for validating a customer’s identity. Today, many customer-facing businesses may leverage additional data from the US driver license about customers’ height, weight and hair color to personalize their services. When such information sits in document archives, intelligent systems can quickly extract the required data for downstream processing. Whether by extracting information from unstructured files or automating an entire business process from start to finish, the modern AI-based capture technology is driving the real ROI.

Enterprise Intelligent Document Processing (IDP) Artificial Intelligence (AI) OCR

First name*

E-mail*

Сountry*

СountryAfghanistanAland IslandsAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelgiumBelizeBeninBermudaBhutanBoliviaBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBritish Virgin IslandsBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongo (Brazzaville)Congo, (Kinshasa)Cook IslandsCosta RicaCroatiaCuraçaoCyprusCzech RepublicCôte d’IvoireDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard and Mcdonald IslandsHoly See (Vatican City State)HondurasHong Kong, SAR ChinaHungaryIcelandIndiaIndonesiaIraqIrelandIsle of ManIsraelITJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea (South)KuwaitKyrgyzstanLao PDRLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacao, SAR ChinaMacedonia, Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesia, Federated States ofMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNetherlands AntillesNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinian TerritoryPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalPuerto RicoQatarRomaniaRwandaRéunionSaint HelenaSaint Kitts and NevisSaint LuciaSaint Pierre and MiquelonSaint Vincent and GrenadinesSaint-BarthélemySaint-Martin (French part)SamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSurinameSvalbard and Jan Mayen IslandsSwazilandSwedenSwitzerlandTaiwan, Republic of ChinaTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited States of AmericaUruguayUS Minor Outlying IslandsUzbekistanVanuatuVenezuela (Bolivarian Republic)Viet NamVirgin Islands, USWallis and Futuna IslandsWestern SaharaZambiaZimbabwe

I have read and agree with the Privacy policy and the Cookie policy .
I agree to receive email updates from ABBYY Solutions Ltd. such as news related to ABBYY Solutions Ltd. products and technologies, invitations to events and webinars, and information about whitepapers and content related to ABBYY Solutions Ltd. products and services.

I am aware that my consent could be revoked at any time by clicking the unsubscribe link inside any email received from ABBYY Solutions Ltd. or via ABBYY Data Subject Access Rights Form .

Referrer

Last name

Query string

Product Interest Temp

UTM Campaign Name

UTM Medium

UTM Source

ITM Source

GA Client ID

UTM Content

GDPR Consent Note

Captcha Score

Page URL

Connect with us

Discover Brilliant

Maximizing Profits with AI: The Case for Smart Scanning Technologies in Modern Business - Insights From the ABBYY Experts