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Artificial Intelligence (AI) for Automatic Document Recognition
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In this blog post we will understand how automatic document recognition through artificial intelligence can be a competitive advantage for organizations in all areas of activity.
The document interpretation process plays a crucial role in information management in large organizations. With the exponential growth in the amount of data coming from different sources, it is essential to have efficient methods to extract useful information and make informed decisions . However, this traditionally manual process is marked by its complexity, slowness and propensity for human errors.
Imagine that a company receives a large number of documents daily, such as invoices, contracts, reports and forms.
The task of:
interpret these documents,
· extract relevant data
· and insert them into the organization's systems
It can be, as already mentioned, extremely laborious and susceptible to failure. Furthermore, the time spent on this manual process can delay critical decision-making and compromise operational efficiency.
The existence of a technology with functionality that would allow users to submit documents for automatic interpretation and extract that information reliably and automatically, reducing the need for human intervention as much as possible, would be ideal for many of the demanding processes of large organizations.
It is at this stage that Nextbitt emerges as an innovative solution to meet this pressing need for organizations. With its automatic document interpretation platform, Nextbitt offers an Artificial Intelligence (AI)-based approach to automate and optimize this critical process. Your solution not only eliminates the need for regular human intervention, but also ensures the reliability, security and accuracy of the extracted data.
Nextbitt's proposal is not limited to automatic document interpretation, but also integrates perfectly with other products in the company's ecosystem. This means that the extracted data can be easily integrated into the organization's existing systems, such as energy management and environmental management. This perfect integration allows for a more comprehensive and informed analysis of data, contributing to more assertive and effective decision-making.
This process consists of interpreting and collecting data from documents using AI (artificial intelligence) algorithms, extracting, validating and processing information in a simple way for the user.
Users can submit documents via the Nextbitt Portal, email or Mobile Nextbitt application.
When submitting the document, the platform will apply the most appropriate model for its interpretation, evaluating its structure and composition to extract the information and convert it into concrete data, using AI algorithms for these predictions.
Each field identified by the model is assigned a reliability value to the result obtained.
In each model, fields can be configured to be detected by the process, thus increasing the possibility of customizing the process, as well as the radius and confidence in obtaining this information.
This is a crucial step in Nextbitt's document interpretation process, offering essential quality control to ensure the accuracy and reliability of the processed data. When a document does not reach a minimum level of reliability, established at 75% and adjustable as necessary for each model, it is forwarded to this queue for manual validation.
Within the Manual Validation Queue, users have several action options for each document:
This option is ideal when the values identified by the model are considered correct by the user. By approving the values, the user accepts the result and allows the system to automatically include them in the process, submitting the file with the identified results to the next stage of the workflow.
If the values identified by the model do not meet the user's expectations or needs, the user may choose to select another interpretation model. This allows you to adjust process parameters, add new fields or modify settings to better suit the document in question. After changes are made, the identification process is repeated to ensure a more accurate interpretation.
If the user determines that the document in question is not relevant or cannot be accurately interpreted by the system, they may choose to ignore it. When choosing this option, all identified values are discarded and the document is removed from the Manual Validation Queue, thus allowing the user to focus on more pertinent documents.
The data collected is integrated into other Nextbitt products, for example Energy Management for energy bills, Environmental Management, for data related to consumption and respective Co 2 emission factors.
Nextbitt's ability to interpret a wide range of documents offers a significant advantage to organizations. By allowing the reading of any type of document, from invoices and contracts to reports and forms, Nextbitt adapts to the specific needs of each client. This not only increases the versatility of the platform, but also improves process reliability over time.
Furthermore, template customization is a key feature that Nextbitt offers. Over time, the platform learns from the history of data collected and user interactions, continually refining the interpretation model. These personalized adaptations guarantee a more accurate and efficient experience, aligned with the specific needs of each organizational environment.
The integration of Artificial Intelligence (AI) in automatic document recognition and interpretation plays a crucial role in improving the reliability and accuracy of results. Previously, this process relied heavily on human intervention, which increased the risk of errors and delays. However, with Nextbitt, AI takes over most of the work, significantly reducing the need for human intervention and ensuring greater security of submitted data.
The AI algorithms applied by Nextbitt are trained to recognize patterns and extract relevant information from documents accurately and efficiently. This not only speeds up the interpretation process, but also improves the quality of results, allowing organizations to make more informed and assertive decisions based on the extracted data.
Additionally, Nextbitt's AI is adaptive, meaning it can learn and evolve over time. As more data is processed and more interactions are made, the algorithms become more refined and accurate, providing an increasingly accurate and reliable interpretation of documents.
One of the fundamental advantages of Nextbitt's functionality is the automatic integration of data into the company's system. Once the data is successfully processed by the platform, it is automatically integrated into other products in the Nextbitt ecosystem. This allows organizations to immediately assess the impact of inputted information and make decisions based on up-to-date, accurate data.
This automatic data integration eliminates the need for manual transfer of information between systems, reducing errors and associated delays. Furthermore, it provides a holistic, real-time view of the organization's operations, thus facilitating faster and more informed decision-making.
By adopting this functionality of the Nextbitt platform, organizations optimize their workflows and make more informed and faster decisions based on updated and accurate data. This approach not only improves operational efficiency, but also boosts the competitiveness and adaptability of organizations in a constantly evolving business environment.
Nextbitt is not just a tool, it is a strategic partner in effectively managing information and making informed decisions. Find out more about how we use Artificial Intelligence at Nextbitt here and book a Demo with us to see this feature in action.
André Ferreira
Product Owner
