AI powered DMS enables extracting data directly from documents

Artificial Intelligence

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1 Apr 2022
5 Min read

Role Of AI-Augmented Software In Document Management Systems

The amount of newly created data increases as an organization grows. According to Forbes, the globe generated 15 Exabytes of data in 2005 and around 1200 Exabytes in 2010. This number has now surpassed 2.5 quintillion bytes. By 2020, the global data volume will reach 44 zettabytes if current trends continue. Traditional data management systems can’t keep up with the growing data volume. Conventional document management systems are insufficient for several top businesses that create vast data (DMS). Artificial intelligence (AI) has revolutionized document management systems in recent years. The introduction of artificial intelligence has simplified how they store and archive essential documents and extract valuable data.

This blog post will look at five ways AI-augmented software is changing DMS.

The Importance Of Artificial Intelligence In Document Management Systems (DMS)

Artificial intelligence services can help document management systems become more innovative and efficient. When searching for a document on a computer, you must either know the specific location of the document or use a keyword search. AI-augmented software allows for more human-like interactions with robots, making document retrieval work faster and more enjoyable. It not only saves time and effort but also boosts output. DMS software solutions get more intelligent, simpler, and easier thanks to AI. It also provides real-time contextual information, which boosts workflow productivity tremendously.

Five Artificial Intelligence (AI) Applications That Are Transforming the DMS Industry

Data Analytics:

The support for analytics and its value for decision-making are among the most intriguing AI-augmented software potentials in DMS. For example, several cognitive platforms, such as OpenText Magellan and IBM Watson offer data analytics to help revolutionize document management. To extract insights from data contained in documents, an AI-based DMS employs machine learning, predictive analysis, and data visualization.

Data Extraction:

AI-powered DMS software solutions evaluate data to determine context and take data extraction to a new level. The given data is assessed and crawled in a specific pattern to get relevant information from a DMS. Daily, all small-to-medium businesses generate vast amounts of data. As a result, extracting vital information to complete a task becomes critical. Users may retrieve essential information by combining DMS with machine learning methods.

Document Clustering:

An AI-powered DMS evaluates data to determine context and takes data extraction to a new level. The given data is assessed and crawled in a specific pattern to get relevant information from a DMS. Daily, all small-to-medium businesses generate vast amounts of data. As a result, extracting vital information to complete a task becomes critical. Users may retrieve essential information by combining DMS with machine learning methods.

Automatic Classification and Processing:

Machine learning is utilized to help DMS systems enhance their identification and processing capabilities. With the introduction of AI, OCR (optical character recognition) technology may now be used to classify documents based on their content automatically. It can recognize and interpret information from repeated exposure to papers based on their activities. An AI-powered DMS, for example, can realize invoice numbers and line items to identify invoices.

Advanced Security

Data-driven strategies are used by AI-based DMS to accurately discover and protect Personally Identifiable Information (PII) and sensitive data. Furthermore, AI uses secure biometric measures to prevent unauthorized viewing or manipulating of papers. The DMS will detect any attempt to obtain unauthorized data access right away.

Conclusion

AI-based DMS software solutions systems are revolutionizing how businesses function, thanks to the advancement of artificial intelligence. By automating mundane tasks and streamlining common workflows, AI is one of the developing technologies for establishing an intelligent workplace. Due to widespread AI-augmented software usage, document management systems (DMS) are rapidly improving. Data management operations have been streamlined thanks to AI and ML, and they are continuing to improve thanks to machine learning algorithms.

If you wish to learn more about artificial intelligence, contact the ONPASSIVE team.

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