Optical Character Recognition Technology for Business Owners

Early versions of OCR had to be trained with images of each character and could only work with one font at a time. Modern machine learning algorithms make the text recognition process more advanced and provide a higher level of recognition accuracy for most fonts, regardless of input data formats. Advances in machine learning (ML) have given a new impetus to the development of OCR, significantly increasing the number of its applications. With enough training data, the OCR machine learning algorithm now can be applied to any real-world scenario that requires identification and text transformation. For example, receipts scanning, scanning of printed text with the further conversion of it into synthetic speech, traffic sign recognition, license plate recognition, etc.