Artificial intelligence is a breakthrough technology ready for adoption in various industries like advertising, investment, media, oil & gas, hospitals, legal sector, etc. After years of research the combination of machine learning, neuroscience, control theory are yielding practical benefits.
The current market for the AI is of $202.5 which is likely to increase to $11.5 billion by 2024. These figures are from the research made by Tactical.
The AI will be going to the next level by having investments in professional services like installation, training, integration, customization, integration, maintenance.
Every company from different industries want to save money by implementing advanced security algorithms.
Artificial Intelligence and document management technologies
With improving AI systems, there are distinct industries adopting the AI systems for dealing organizationally with large quantities of documents.
Many companies deal with massive data every day. Therefore, they have started writing and embedding algorithms in their programs. These algorithms help to identify trends and critical patterns.
AI classifies data faster, saving time and money
Systems like form scanning and processing have evolved with the AI-driven engine system. While scanning the documents, the software automatically removes values. Documents are automatically converted into the electric mode in their order as the AI recognizes them in the predefined form.
Any company can handle invoices in bulk quantities without incurring any extra cost with the help of AI.
For example – A car washing agency receives 1200 invoices every month by implementing AI code in their document management software they can automate their process of paying invoices. Implementing AI code generation system they have an automated invoice paying process.
The overall time spent on generating a single invoice is 45 minutes approximately. The cost incurred per invoice is reduced by $50. Further, the yearly cost savings can go up to $670,000.
AI provides full security to the document management software.
Smart algorithms flag unauthorized access to your documents or other files. This means critical information and documents are protected with multi-layer code. With AI your data is prevented from being misplaced, damaged or altered.
When you store documents in multiple places looking for a specific file can be problematic as you are unaware of the exact location. AI documents now also give access to sensitive documents without any passwords?
Well, it is not password free it is just password hassle free. As the AI has developed facial recognition for your password. Facial recognition is the most secure way of locking any file. Everyone has a unique face which is unmatchable in any circumstance.
The conclusion is that AI and machine learning together can:
- Boost control
- Save time and money
- Improve process efficiency
- Secure sensitive data
Artificial intelligence has a crucial impact on our lives and has become a vital part of all the equipments and software that we are using these days including a document management system.
