Searching for ROI in Artificial Intelligence Deployments

Anyone with any doubts about the interest in AI and its use across enterprise technologies only needs to look at the example of the Intelligent Document Processing (IDP) market and the kind of verticals that are investing in it to quash those doubts. According to the Everest Group's recently published report, Intelligent Document Processing (IDP) State of the Market Report 2021 (purchase required) the market for this segment alone is estimated at $700-750 million in 2020 and expected to grow at a rate of 55-65% over the next year. Cost impact is now the key driver for intelligent document processing adoption, closely followed by improving operational efficiency and productivity. These solutions blend AI technologies to efficiently process all types of documents and feed the output into downstream applications. Optical character recognition (OCR), computer vision, machine learning (ML) and deep learning models, and natural language processing (NLP) are the key core technologies powering IDP capabilities.