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This article describes real-world OCR use cases across different industries.
As OCR is still a relatively new technology for business process automation, most industries still employ legacy systems. However, as companies increasingly shift digital, OCR technology is projected to be a business necessity.
In this article we discuss about OCR Use Cases across 7 industries in 2021. Let’s dive right in.
- OCR in Communication
- OCR in Banking
- OCR in Insurance
- OCR in Legal
- OCR in Healthcare
- OCR in Tourism
- OCR in Retail
1. OCR in Communication
Among the most popular use cases for OCR includes digitizing books and unstructured documents that render human-to-human communication easier. One such example is Google Translate OCR technology that allows users to read in any language.
2. OCR in Banking
OCR also holds promise in its use case for the banking industry.
One use case of OCR in the banking sector is using mobile banking apps, where your checks can be deposited digitally and processed within few days through OCR-based check depositing features.
Another use case of OCR in the banking industry is to monitor and evaluate your customer’s data including personal and security information.
Banking transactions involve a hefty amount of data entry related to bank statements. OCR-based technology will help to maintain workflow efficiently with high text recognition accuracy every time.
Furthermore, OCR can also be useful in capturing sensitive information in mortgage applications and payslips.
3. OCR in Insurance
OCR can also contribute to the ever-growing insurance industry. Particularly, OCR can automate insurance claims processing for faster transactions.
4. OCR in Legal
OCR allows legal firms to have their printed documents such as affidavits, judgments, filings, statements, wills, among others, digitized.
5. OCR in Healthcare
The OCR can greatly contribute to the healthcare industry. Specifically, the OCR technology can digitize data from reports containing X-rays, patient’s history, treatments or diagnostics, tests, and overall hospital records.
6. OCR in Tourism
Through OCR, tourists and hotel guests can now check-in automatically by simply scanning their passports to a hotel’s website or mobile application.
7. OCR in Retail
With mobile OCR, customers can now redeem vouchers by scanning for serial codes using their mobile phones.
Undeniably, data capture outsourcing is necessary for the better management of actionable data. Even more helpful is the emergence of business automation processes, particularly machine learning, that can operate 24/7 and work significantly faster than human experts, automatically optimizing data capture outsourcing processes.
As machine learning continually develops, it goes beyond data capture and holds significant use cases across multiple industries.
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IDS Commander iTech2021
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