As an organization grows, the amount of newly generated data also keeps growing. According to Forbes, 15 Exabytes of data was generated worldwide in 2005 and almost 1200 Exabytes in 2010. As of today, this figure has reached 2.5 quintillion bytes. At this pace, the global data volume is expected to grow up to 44 zettabytes by the year 2020. Traditional data management systems cannot cope with the rising volume of data. Several leading enterprises that generate large chunks of data cannot rely on traditional document management systems (DMS). Over recent years, artificial intelligence (AI) has transformed conventional document management systems. The advent of AI has streamlined the way they store and archive important documents and extract useful information.
This blog post highlights five ways in which AI is transforming DMS.
If you search a document on a computer, you either need to know its exact location or perform a keyword search. AI enables human-like interactions with machines to accelerate the task of locating documents in a more engaging way. It not only reduces time and effort but also increases productivity. With AI, document management becomes smarter, simpler, and easier. Moreover, it delivers real-time contextual information that significantly improves workflow efficiency. Artificial intelligence services can significantly improve document management systems, making them smarter and less time-consuming.
Data Analytics: One of the most interesting prospects of AI in DMS is the support for analytics and the value it provides for decision making. An AI-based DMS uses machine learning, predictive analysis, and data visualization to derive insights from data contained in documents. For example, several cognitive platforms like OpenText Magellan and IBM Watson provide data analytics to transform document management.
Data Extraction: An AI-powered DMS takes data extraction to a new level by analyzing information to identify the context. The given data is analyzed and crawled to retrieve relevant information from a DMS in a specific pattern. All small-to-medium businesses produce massive chunks of data on a daily basis. Therefore, it becomes critical to extract relevant information to accomplish a particular task. Integrating DMS with machine learning algorithms enables users to easily extract essential information.
Document Clustering: In document clustering, all the documents are grouped based on their topics without any prior classification. With artificial intelligence, this process becomes quick, simple, and more organized. An AI-powered DMS can effectively assign documents to different topics when the topics or hierarchies are not known in advance. It enables users to understand how documents are related to one another within a wider context.
Automatic Classification and Processing: The advent of AI has enabled the use of OCR (optical character recognition) technology to automatically classify documents based on their content. Machine learning is being used to improve the identification and processing capabilities of DMS systems. It can automatically identify and process the information from repeated exposure to documents based on the actions taken upon them. For example, an AI-powered DMS can identify invoices by recognizing elements such as invoice numbers or line items.
Advanced Security: AI-based DMS uses data-driven techniques to accurately detect Personally Identifiable Information (PII) and sensitive data, and protect it when needed. Any attempt to gain unauthorized access to data will be immediately detected by the DMS. Besides, AI prevents unauthorized viewing or alteration of documents using secure biometric techniques.
With the advent of artificial intelligence, AI-based DMS systems are transforming the way a business operates. AI is one of the emerging technologies for creating a smart workplace by automating routine tasks and optimizing everyday workflows. With significant adoption of AI, document management systems are improving at a rapid pace. The advent of AI and ML has streamlined the data management processes and they continue to improve with machine learning algorithms.
We introduce AI in your business operations with smart applications developed by our Artificial Intelligence Services team. As an artificial intelligence development company, we use the latest AI toolkit to develop data-driven DMS systems that deliver tangible results. Our services range from NLP, computer vision to predictive analytics and recommendation engines.
Get in touch with us to explore how AI can transform your business. Click here to start.