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AI-Powered Document Data Extraction: The role of documents in businesses, and how AI can help?

We’ve wrote before about the advantages of using AI to automate data extraction. In this article, we’ll explore deeply into it.

Document data extraction is the process of extracting meaningful data from semi-structured and/or unstructured documents for later use or storage. When referring to the use of AI or Machine Learning to perform that task, it’s called Automated Document Data Extraction.

The role of documents in businesses

Every single business deal with various amounts of documents daily. The difference between general documents and businesses documents is that, often, those business documents contain predefined data, and are created using predefined layouts. There are also specific keywords related to every kind of documents.

All this can be used by AI systems to process Data Extraction.

Using AI for Document Data Extraction

Document data extraction is a long and tedious process, but, with AI, it can be optimized, leaving free time for employees to focus on other tasks of the company.

Various AI technologies are used, such as Computer Vision, Machine Learning and Natural Language Processing (NPL). In combination, they extract, categorize, validate, process, and save all meaningful data.

The whole process begins with documents being digitized if they weren’t already in digital format. Raw data is then processed and, elements of the documents are classified, such as:

  • Names;
  • Amounts;
  • IDs;
  • Etc.

This process makes use of NLP techniques. AIs used to perform these tasks are trained with libraries of pattern matching and model extraction to help with the process.

The data is then validated and verified. This may be done through learning algorithms but also from human interaction. During this process, follow-up actions can be performed, such as:

  • Emailing receipts;
  • Database additions;
  • Etc.

The final output includes, the relevant data being processed and classified, and metadata created about all the analysed documents.

Why is AI-Powered Document Data Extraction so important?

Businesses that make decisions based on the data they have collected are much more likely to succeed, increasing profits and productivity.

Employees are allowed to perform other important tasks, not having to use up their time going through hundreds if not thousands of documents to manually extract data.

TML: Texter Machine Learning – A whole new level of automatic extraction of information and data analysis.

Your content and data are the foundation upon which your business operates, and critical decisions are made. The adoption of AI enables us to develop a whole new level of automatic extraction, which optimizes efficiency, empowering new business opportunities and freeing critical human resources to specific value-added tasks.

  • Process your data with different AI engines, integrating the results.
  • Supports several data formats: images, video, text, etc.​
  • Generate updated content and document versions based on AI results​
  • Store extracted information in metadata, enabling further processing and process automation.
  • On cloud or on-premises – in case you don’t want data to leave your private infrastructure
  • Compatible with several different ECM providers
  • Ability to develop custom AI models to target your specific needs and data

Download here our TML – Texter Machine Learning – Datasheet:

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