Intelligent Automation: Capturing the Unicorn What does everyone want with Intelligent Capture? Perfection! Intelligent Capture (IC) software is used to capture the information on documents, categorize those documents and pages, extract and finally verify relevant data for further processing using AI technologies. And do it with precision from day one. So, in a perfect world if you were to apply intelligent capture to all your document tasks, you’d automate 100% of your document processes with 100% accuracy and 100% straight through processing (STP). So, why is it that in 2020, organizations with intelligent capture experience very low, if any, STP? The answer is that it’s difficult and costly. To achieve true STP requires a combination of machine learning and data science. Data science principles should always be involved with intelligent capture configurations because the entire value proposition for IC lies in its ability to provide accurate data from documents. This means that sample sets, which AI needs as go-bys, must be statistically representative of your production documents and be thoroughly analyzed. Otherwise, you need to do extensive manual verification.
CONTACT INFO: COMPANY: Parascript
When we combine automated data science and use machine learning to automate analysis and system optimization, we can literally turn an IC project that takes 1,000 hours into a few hours of compute time. The result is IC that can deliver much more data at higher levels of accuracy than human-configured systems. Manual verification only needs to occur when the system cannot complete a task or the data is incorrect. IC powered by data science can automatically configure and tune itself as well as implement content analysis. This means that IC gets more accurate over time, and it’s smart enough to tell which data is accurate versus data that is likely inaccurate. This is the real promise of “cognitive” intelligent capture. A much higher degree of straight through processing is achieved sparing significant staff time and reducing costs. The upshot is that most organizations that adopt Intelligent Capture, which combines machine learning and data science, will reduce their staff burden and accelerate their processes by OVER 80% from their current operations!
Greg Council, VP Marketing and Product Management The good news is that Parascript has a reliable and proven process to enable your organization to achieve straight through processing using Intelligent Capture software that synthesizes machine learning with data science. This is based on our decades of experience using these AI technologies. The result is the highest levels of unattended automaton with the lowest upfront investment.
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