Introduction
OCR (Optical Character Recognition) technology is in use since the 90s. OCR enabled business owners to automatize the process for physical records. Its quality OCR has improved continuously since its beginning and it is now among the most efficient tools worldwide. Today, OCR systems can convert handwritten, printed texts, or even embossed information into digital format that can be electronically readable. In fact the worldwide OCR market was worth US $7.46 billion by the year 2020 and is projected to grow at a rate of 16.7 percent during the period 2021-2028. We will now look at the various types of OCR devices that are commonly used in different industries of manufacture.
Types of OCR Systems Used in Manufacturing Industries
The various types of OCR systems include:
Intelligent Word Recognition
The IWR technology can capture handwritten or cursive writing. Instead of focusing on the individual character, the algorithm detects the entire handwritten word.
Intelligent Character Recognition
Similar to IWR, ICR captures handwritten or cursive text. Their algorithm, however, only identifies one character at one time.
Optical Word Recognition
The OWR technology works by recognizing text using typed text. It it reads the text word for word.
Optical Character Recognition
OCR is a software that recognizes text on typed text. It reads text one character at one time.
Optical Mark Recognition
The OMR technique collects input from humans information by identifying marks or patterns in a document.
What is AI and how it differs from an OCR System based on Rules
OCR solutions are able to perform recognition of text by using two strategies that are AI-based and rule-based. In the rule-based , or template-based model, a space that is defined by specific coordinates is scrutinized based on a set of rules which are hardcoded into forms of in-between clauses. If the samples are in the right category, there won't be any problems. But even a small variation in the sample could cause the creation of an error-stream. With the standard rules-based OCR the only method of increasing the accuracy of the scans is to examine and check the outputs by hand.
The conventional OCR Training Dataset have become obsolete with the changing technology. The companies have begun to focus on AI-driven options to boost the productivity of their employees and keep costs under manage. Based on the examples AI-based OCR solutions can create rules of themselves and constantly enhance them as they perform. Simply put, technology like Deep Learning help OCR solutions to improve their accuracy as time passes.
Industrial Use-cases of OCR Systems
A few important applications of OCR systems across different industries are listed in the following sections:
Automotive industry
The manufacturing processes for even a single vehicle, can be extremely complicated. It is vital that every component is placed in the correct vehicle, and in the right sequence. Nowadays, manufacturers apply serial numbers to parts to avoid any problems in manufacturing. OCR systems are able to read the recognition of text and verify it in real time to ensure that components are properly labeled.
Industry of pharmaceuticals
Batch codes lot codes, batch codes, as well as expiration dates serve an essential part in the pharmaceutical industry. The strictest labeling regulations are in place to ensure the safety of customers and prevent product counterfeiting. OCR technology can ensure that the information printed on the package is accurate and legible and prevents any unintentional issues.
F&B industry
The F&B sector has the largest diversity of packaging when in comparison to other industries. To ensure the quality of products and safety, it's important to regulate the basic information printed on the packaging. The most common applications of OCR system for recognition of text within this sector include production tracking, verification of labels material receiving lot code verification and many others.
Steel industry
In the massive production of pipes and metal sheets It is crucial to use a reliable method to continuously inspect the products that are being produced. AI-based OCR will aid in identification of the steel pipe's character by introducing automation that has high precision.
Banking industry
The banking sector is among of the major users of OCR technology since it helps in enhancing security, improve risk management, enhance efficiency in managing Dataset For Machine Learning, and improve the customer service. Through OCR technology, it's now possible to store and digitize an enormous amount of documents accessible easily. OCR solutions allow for real-time examination of checks as well as a signature by scanning them with OCR-based software. In addition, the electronic deposition of checks using OCR technology aids in preventing fraud and safe transactions.
Benefits of AI-based OCR Systems
OCR has a variety of advantages to its users. A few of the most important advantages of OCR are listed below:
Increased accuracy
The optical recognition software that is based on technology reduces the possibility of human errors. Therefore, we can be assured of precise text recognition and data that is reliable. A higher level of accuracy results in less complaints regarding recalls and improved satisfaction of the consumer. OCR Datasets can also assist industries to detect counterfeit products and stop them from into the chain of supply.
Cost optimization
Automating the process of the process of text recognition and verification, OCR solutions minimize the cost of labor. The technology doesn't require lots of resources. This lowers processing costs and, consequently, reduces overall cost of a business.
Automates data entry into ERP software
If you are frequently missing information or gather incorrect data in the process of entering data The final result is in part ineffective. OCR solutions can be used to automate the tedious job of reading documents, like invoices, and then feeding exact information in to ERP software.
Conformity with regulations of the government
Industries like FMCG, F&B, and pharmaceuticals must adhere to strict regulations from the government. The standards include cosmetic fitability, safety of packaging as well as informative text for the consumer. OCR assists these industries in complying with these requirements.
Increased customer satisfaction
The accessibility of large amounts of searchable data to users ensures better customer satisfaction as well as a better experience.
Increased productivity
Being able to easily track and tracing every product through the manufacturing line provides a relaxed workplace for workers. OCR solutions also eliminate the manual tasks involved and allow employees to concentrate on tasks of greater importance , and in turn increasing the efficiency of the company.
Global Technology Solutions (GTS) OCR has got your business covered. With its remarkable accuracy of more than 90% and fast real-time results, GTS helps businesses automate their data extraction processes. In mere seconds, the banking industry, e-commerce, digital payment services, document verification, barcode scanning, Image Data Collection, AI Training Dataset, Video Dataset along with Data Annotation Services and many more can pull out the user information from any type of document by taking advantage of OCR technology. This reduces the overhead of manual data entry and time taking tasks of data collection.
