Applications of Intelligent Character Recognition

OCR is a technology that captures text from images. But lack of the intelligence to further manipulate the data for good use. Such as form filling, translating to different languages, or even automating digital workflows. What ICR does further for example:

•  Banks, NBFCs, and financial institutions store large volumes of customer data. ICR reads information from loan applications, checks, forms, and surveys to process them digitally
• Schools and educational organizations use it for grading purposes
• Online businesses and e-commerce stores use ICR to collect electronic signatures and log them in databases for KYC documentation
• Property managers use ICR for verifying ownership by scanning land documents. Landlords are applying ICR for e-verifying rental agreements
• Insurance companies and banks digitize documents by law and using ICR for filing claims greatly increases transparency.
• Hospitality and logistics sectors use this technology for scanning receipts, invoices, shipping and address proofs, bills of lading, etc.