• May 22, 2024

Optical character recognition (OCR)—the technology that enables a computer to distinguish different characters and fonts on a user interface—has become an important to the effectiveness of robotic process automation (RPA). As a standalone industry, a new report predicts OCR sales to grow nearly 14 percent annually to $13.38 billion by 2025. The report from Grandview Research noted that OCR solutions integrated in RPA software are helping drive growth.

“Integration of artificial intelligence with optical character recognition has helped companies in leveraging technological capabilities of artificial intelligence such as deep learning and multi-level analysis for the more efficient processing of documents, texts, and other data in a way similar to that of humans,” the report said. “These advanced technologies also help to address inaccuracies that occur in OCR, thereby providing streamlined fault management. This, in turn, helps reduce costs of processing documents and increase efficiency within the organization.”