Artificial Intelligence has revolutionized many data processing tasks. One of them is the automation of the invoice’s data extraction. Even though invoices are so vastly used in today’s businesses, you will notice that there are no clear templates. Up until now, this has created various challenge, resulting in inefficient applications. However, machine learning has changed that. When combined with the Optical Character Recognition (OCR) technology, machine learning is able to understand the contents of an invoice. The most important thing is that products that take advantage of Artificial Intelligence don’t need templates.
This has numerous benefits for the companies that implement such digital transformation. Namely, some of the benefits are:
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