Switch to Intelligent Document Processing Now!
An MIT report on unstructured data management had cited that majority of data (80% to 90%) that exists today is unstructured data. Tapping into this data is key for making informed decisions that would lead to an organization’s success. Market.scoop.us ’s 2023 report on intelligent document processing (IDP) cited that IDP can cut unstructured data processing time by at least half and eliminate errors which could boost the speed of decision-making . Let’s unpack how intelligent document processing can be a resourceful tool for organizations that want to better manage their unstructured data.?
Basics of Intelligent Document Processing?
IDP can process a multitude of document types, including PDFs, spreadsheets, and Word documents, among others. Using an IDP platform, you can streamline data extraction from these documents by eliminating the need for any manual intervention. You transition from manual and paper-based processes to automated workflows with IDP. With this shift, you can leverage the benefits of emerging technologies and drive innovation across your company. Learn more about how to adopt IDP.?
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Benefits of Optimizing Operations with IDP?
According to Grand View Research, the global IDP market size was valued at USD 1.29 billion in 2020 and is expected to grow at a CAGR of 35.4% from 2021 to 2028. This growth indicates a trend towards more automated and intelligent document handling solutions across different sectors, driven by the need to process large volumes of data and improve operational efficiencies. Learn why IDP is being used across different industries through an infographic.?
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Generative AI: The Next Trick up IDP’s Sleeve?
Generative AI has had a transformative impact across numerous sectors and industries — and data management is no exception. Areas such as data access, extraction, and analysis are already undergoing incredible transformations with Generative AI. Generative AI enables automated, intelligent, and context- aware data extraction, making it possible for every business to transform unstructured data into valuable insights.??
Unlocking Unstructured Data with Generative AI?
Last month, Astera COO Jay Mishra spoke at Open Data Science Conference (ODSC) on the emerging impact of Generative AI on unstructured data. Explicit and Implicit generative AI models such as generative adversarial networks (GANs) and variational autoencoders (VAEs) present interesting ways to deal with labelling and managing image-only data. Learn more about how Generative AI is set to outperform all previous methods of unstructured data processing.?
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That’s all from us this Byte! As IDP is here to stay, let’s get cracking on strategizing how to best use it for our unstructured data management needs!?
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Until the next Byte,??
Astera Team??