A bottleneck for most of the businesses today is document management and processing. Controlling the lifecycle of a document is a complex process in itself. Undertaking this task with just manual support increases the complexity of document management.
With digital advancements in every field, document automation is also picking pace. From healthcare and insurance to finance and accounting, businesses are enthusiastic about making new technologies like generative AI a part of their document automation process.
Switch from Manual to Machine Document Automation
The shift from manual to AI-enabled document automation is driven by several key factors:
- Document Volume: Organizations, such as insurance providers, handle numerous documents such as insurance forms, passport, proof of employment, residency status, medical history, and more with structured and unstructured data, making manual processing prone to errors, lost information, and inefficient searches.
- Unstructured Submissions: Customers submit various unstructured documents, such as scanned PDFs, images, handwritten notes, policy documents, ID proofs, and invoices, which are time-consuming and difficult to manage manually.
- Multi-language Documents: In regions like Arab countries, translating documents from Arabic to English manually is labor-intensive and prone to mistakes.
- Increased Operational Cost: Processing paper-based documents is costly due to both the physical work involved and the expenses of correcting manual errors.
- Fraud Detection Challenges: Forging documents for personal gains is not an uncommon practice. Manual document handling can overlook fraudulent documents, leading to significant financial losses.
Document Automation Leveraging AI Capabilities
Lynk IDP offers robust solutions for tackling the above-mentioned challenges:
- Extract data automatically from structured and unstructured documents from various sources, including text, images, and enterprise databases, with high accuracy and efficiency. Lynk IDP has 99% data extraction accuracy.
- Seamlessly classify and analyze data from multiple documents (physical and digital) bundled up in a single PDF and having low quality with intelligent document processing.
- Use AI-driven OCR to process and translate complex languages like Arabic to English with built-in language detection.
- Implement custom AI-enabled NLP models to perform semantic and contextual searches and retrieve relevant data from documents.
- Enhance accuracy and maintain control over document processing using self-trained AI models with human-in-the-loop validation.
- Get secure data handling with Lynk IDP’s strong and end-to-end encryption algorithms.
The Role of AI in the Future of Document Automation
The need for AI-enabled intelligent document automation has accelerated recently in today's digital age. Intelligent document automation powered by AI is not just a trend but a necessity for modern businesses.
As organizations increasingly handle large volumes of data, the efficiency, accuracy, and speed that AI brings to document processing are invaluable. By leveraging AI, companies can automate routine tasks like data extraction, classification, and workflow management, allowing employees to focus on higher-value work.
As we stand on the brink of this new era in document processing, AI-enhanced document automation is unfolding new opportunities for industries like healthcare, insurance, finance, accounting, legal, and retail.
Get started with our free trial of the IDP AI (Lynk) solution to experience the future of automated document management.