Insights

Revolutionizing document classification with trainable AI models

Bharath Lal L- Product Owner (SmartVision)

Efficient business operations rely heavily on paperwork processing, encompassing a variety of documentation. No proper document categorization can introduce risks and bottlenecks in daily business functions. Imagine working in a bank with an unorganized pile of undefined forms, including home loan applications, new account requests, and demat account details. Handling such a mix demands extensive hours and introduces errors that could adversely affect the business.

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Intelligent document processing (IDP)

In the rapidly evolving digital landscape, data is exponentially expanding. Traditional processing workflows may drain resources or require cost-intensive technical expertise. Intelligent document processing is a rising solution that converts data from structured, semi-structured, and unstructured documents into actionable insights. These insights, powered by advanced AI technologies like Computer Vision, Natural Language Processing (NLP), and machine/deep learning, can potentially drive significant business outcomes.

Businesses are exploring IDP solutions to address typical document classification challenges. By using AI and machine learning, these solutions automate processes to assign and categorize documents accurately. This blog delves into document classification, emphasizing how trainable classification AI models can revolutionize traditional business operations.

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What is document classification?

Document classification refers to the systematic assignment of a document to specific classes or relevant categories, simplifying its management and analysis. This aids in the efficient storage, organization, and analysis of documents. The process entails identifying text within a document, tagging it, and categorizing it based on insights derived from text classification. Organizations handle a diverse array of documents, each possessing unique attributes. Manual categorization becomes challenging due to the vast volume of items in the current digital landscape. Without solutions akin to Intelligent Document Processing (IDP), companies would need knowledge workers to read documents and extract data, making it time-consuming and error-prone.

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Enter trainable AI classification models

Utilizing intelligent document classification techniques involves employing algorithms to categorize documents precisely. Through scanning, identification, sorting, and automatic assignment, documents are placed into specific predefined classifications without requiring manual effort. This transformative capability is driven by trainable AI models that learn from diverse datasets to predict various document types accurately.

Now, let's take a closer look into the AI models that underpin our IDP solution, fueled by our patented Universal Classifier Pipeline, which serves as the foundation of this capability. We'll explore how it can bring benefits to your organization.

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Understanding trainable AI models

1. Universal Classifier Pipeline
   The Universal Classifier Pipeline empowers organizations to train AI models capable of leveraging multiple document attributes to predict the correct document type precisely. This pipeline guarantees the flexibility and adaptability required to manage a variety of document sets.
2. Democratized training process
   A salient feature that sets our AI classification models apart is the democratized training process. Gone are the days when you required a team of data scientists or coding experts to create and train these models. It can be accomplished with no code or low code, making it accessible to users with varying levels of technical expertise.
3. High accuracy with few samples
   Trainable AI models can achieve high accuracy even with limited training samples. This implies you can efficiently train a model to classify documents accurately, even with a small dataset.
4. Customization for any document set
   You can train the models to classify diverse documents, from invoices and contracts to medical records and legal documents. The tool's versatility and adaptability open up endless possibilities.
5. Predictive power
   Once trained, these models can be employed to predict the document types for which they were trained. This eliminates manual sorting and ensures that documents are categorized correctly.

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Benefits of AI-based automated document classification

Now that we've explored AI classification models let's delve into their advantages to your document classification workflow, benefitting daily business operations and the bottom line.

• Time and resource savings: The democratized, no code/low code training process significantly reduces the time and resources required to implement AI-driven document classification.
• Accuracy and consistency: AI models provide consistently accurate results, reducing the risk of human error associated with manual classification.
• Adaptability: The models can adapt to your specific document classification needs, making them suitable for various industries and use cases.
• Scalability: As your document volumes grow, the AI models can easily scale to handle the increased workload and be retrained for additional document types, ensuring continued efficiency.

A quick overview of real-world applications:

• Finance and accounting: Streamline invoice processing, expense reports, and tax document categorization
• Healthcare: Automate medical record classification, insurance claim management, and patient data organization
• Legal and compliance: Classify contracts, legal briefs, and compliance documents with higher accuracy and faster turnaround
• Customer service: Categorize customer inquiries, emails, and tickets for more efficient routing and resolution

The global IDP (Intelligent Document Processing) market is expected to reach USD 4.15 billion by 2026. With an increasing number of companies embracing AI-driven automation solutions, these technologies are becoming more refined and can potentially revolutionize the future of business operations.

At UST, we empower you to reimagine your business processes with AI-powered solutions like UST SmartVision. As the intelligent document processing powerhouse within our SmartOps platform, SmartVision transforms how you handle paperwork. Its patented zero-shot training technique, intuitive interface, and domain-agnostic approach mean it learns quickly, handles any document type, and integrates seamlessly with your existing systems. Imagine: accelerated model training, accurate data extraction from structured, semi-structured, and even unstructured documents, and powerful insights derived through AI and machine learning. Plus, customizable workflows and human-in-the-loop features ensure optimal control and accuracy. Ready to unlock the hidden potential of your documents?

Experience UST SmartVision today and start your free trial now