Once upon a time, Artificial Intelligence and related processes such as Natural Language Processing, and Machine Learning were abstruse concepts that terrified and/or confounded most people.
Today, these are the very ideas that are propelling businesses into the future. Businesses in sectors ranging from finance to retail have benefitted hugely from developments in NLP and ML. There is the rise of voice and image search in retail, as smart voice assistants gain popularity. NLP is making chatbots more intelligent and improving live chat outcomes for support teams worldwide. AI is making processes simpler, faster, and more effective.
The product in focus in this review makes use of these concepts in tandem, to deliver automation miracles to its users.
Infrrd brings intelligent NLP, advanced image recognition, and machine learning OCR to the businesses of tomorrow. Boasting a global customer base that includes the likes of GE and Nokia Infrrd has delivered customized solutions for businesses in fields like finance, manufacturing, retail, mortgage insurance, and oil & gas, to name a few.
Simply put, Infrrd allows companies to make sense of the tons of data that they generate every day, to draw valuable insights from this data, and to put these insights into action. Of course, the process involved are complex, but we’ll try to simplify what Infrrd does so that you can appreciate the full scope of what businesses can accomplish using this futuristic solution.
Let’s delve deeper into the remarkable functionalities offered by Infrrd.
Remarkable Features of Infrrd
1. Machine Learning OCR
Infrrd uses intelligent OCR to identify, extract and classify images from unstructured and structured data sources. So, this is an OCR solution that works on anything from contracts, receipts, and bank statements to custom PDFs and handwritten forms.
Because of its machine learning and advanced language detection capabilities, Infrrd can extract document contents like taxes (VAT, GST), business names and logos, or specific fields. It can automatically classify documents based on the content type. So, the next time you scan a document containing an element previously identified by the Infrrd algorithm, it will be classified under that field automatically.
Say, you’ve got a physical copy of a travel expense receipt from an employee for reimbursement. As soon as you scan the receipt using Infrrd, it will identify the expense type and categorize it accordingly.
For businesses of almost any kind, this feature can help with automated document classification and cut down on the manual classification of commonly used documents like receipts and invoices.
2. Intelligent Data Capture
Infrrd has simple API-based integrations that allow users to upload PDFs, images, emails, and other documents onto the platform. After that, it follows a simple workflow. It is preprocessed, objects within the image/document are classified, and relevant text is extracted. This information can then automatically be fed into integrated systems such as document management systems, ERP or accounting software.
Take, for example, this complex Piping & Instrumentation Diagram (P&ID), used frequently by process industries (like Oil and Gas) to lay out their system installation.
It has a variety of symbols and abbreviations, not to mention differently oriented text, all within a complex structure that makes it cumbersome to make sense of. Infrrd’s Intelligent Data Capture tackles these diagrams effectively: the AI can be trained to learn exactly what each of the abbreviations and symbols means, and it can understand which parts would be of value to the user. Moreover, the client can set thresholds for the accuracy of extraction. A % score below the threshold will be sent back and reviewed. A continuous feedback loop is set up this way, which is how the Artificial Intelligence can learn and relearn to deliver the desired results.
3. Natural Language Processing
Infrrd’s NLP algorithm interprets the extracted data, drawing contextual conclusions and valuable insights from the same. It can identify sequences and patterns in the data, and understand concepts as complex as sarcasm in human language.
For a major US-based department store chain, Infrrd used IDC to turn over actionable insights derived from thousands of customer reviews. Infrrd combed these reviews and was able to do so quickly because unlike other OCR solutions, it can extract the minutest details from even the most unstructured data source. So, it was able to combine the findings from these reviews and perform sentiment analysis to zero in on exactly what made a product work.
The company was able to use this information to develop an “Occasions” section, where it filtered out and displayed products that could be used for specific occasions, say dresses for a wedding, a beach vacation, etc. With Infrrd’s solution, the company can position its catalog for optimum conversion.
4. Image Recognition
With image search becoming increasingly popular, this is a feature that any eCommerce retailer or online seller will appreciate. Infrrd’s image recognition utilizes deep learning in order to see, understand and extract what’s valuable to the customer. You can automate the extraction of key objects/features from images to a stunning degree of accuracy.
This same feature is now being used in a unique way by companies providing mortgage insurance. Infrrd uses its image recognition functionality to identify and extract information regarding the main objects from pictures of a certain property or location. For example, you feed an image of the kitchen of a house. Infrrd will identify which room it is, the various appliances, the material of the countertop, and ultimately classify the condition of the room as fair, good or poor. This process can be repeated for all the rooms in the property, and accordingly, the need for maintenance or repairs can be ascertained. More importantly, it helps mortgage insurance providers to ascribe value to the property with accuracy, and to develop appropriate insurance policies without having to spend countless hours scaling every inch of the property. Infrrd not only improves productivity but allows clients to curb unnecessary spending through automation of such complex, tedious processes.
Choosing Infrrd as your automation solution provider might just be the best decision you make for your business. It is known for its tailor-made solutions that are customized for each client. It doesn’t matter which sector your business is in. You can count on Infrrd to deliver a unique solution that recognizes the exact automation/data extraction needs of your business, resulting in extraordinary savings and unparalleled productivity in your processes! We hope we’ve piqued your interest. For a more in-depth look at Infrrd’s futuristic solutions, go for a free demo!