Artificial intelligence (AI) has huge potential for the future of many industries. Document management software has been a part of our lives for many decades now, and it’s safe to say that they’ve served us well. But with AI on the rise, some significant changes are coming in this industry as well. In this article, we will explore differences that might be – let’s get started!
Artificial intelligence is one of the most cutting-edge breakthrough technologies applied in various industries, such as advertising, investment, media, oil & gas, hospitals, and legal work. Artificial intelligence is about to reach $11.5 billion by 2024 due to research and investment in related fields like machine learning, neuroscience, and control theory.
The current market for AI is set at $202.5 billion, which is expected to rise as this technology gains acceptance in industries from medicine to transportation and more.
The AI is poised to reach the next level with continued investments in professional services like installation, training, integration, and customization. Every company wants to save money by using advanced security algorithms.
Artificial Intelligence and document management technologies
The ability of new AI systems to organize large quantities of articles has led organizations in several industries to adopt the technology.
It has been apparent for years that artificial intelligence could be a breakthrough in the world of business. Now that it’s time to capitalize on this new technology, AI technology is opening doors to precious insights which companies can utilize to make smarter decisions about their operation.
AI classifies data faster, saving time and money
Systems like Document Scanning Technology and processing have evolved with the AI-driven engine system. The software used automatically removes values as it scans documents, then converts them into an electronic format in the order they are recognized by predefined forms from its AI system.
AI boosts companies’ invoice processing efficiency without incurring extra costs.
For example – A car washing agency has about 1200 invoices a month. They could automate their process of paying those invoices using artificial intelligence in the document management software they already have installed.
After storing the generated invoices for a year, managers found that they can reduce their average per-invoice cost by $50 and will save almost six hundred thousand dollars annually.
AI provides full security to the document management software
Intelligent algorithms ensure that unauthorized access to your delicate documents or other files is prevented. This means your crucial information and data remain safeguarded by a highly technological code. AI prevents any errors from occurring, as well as protects you against contamination of important documents.
Storing documents in multiple locations can make finding a specific file complicated. However, artificial intelligence now makes it possible to find sensitive documents without passwords?
The AI is not just password-free. It’s password hassle-free. Your unique facial features dramatically enhance the security of your files. With an unmatchable ID, your face is as good as another lock to protect anything you want.
The conclusion is that AI and machine learning together can:
- Boost control
- Save time and money
- Improve process efficiency
- Secure sensitive data
Artificial intelligence plays an important role in all the technological innovations that we use today, so it becomes a crucial part of any document management system.