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How Artificial Intelligence is Transforming Document Management

Welcome to the future. Instead of flying cars (those are just a few years away apparently) or laser blasters, the future belongs to artificial intelligence. Even Elon Musk seems to have come around on the usefulness of machine learning and artificial intelligence. The latest software updates on the entrepreneur’s Tesla electric vehicles now learn to navigate complicated turns by studying the driver’s actions.

In the coming decade, artificial intelligence will continue to improve how companies conduct their business operations. With this in mind, it’s time for companies in Canada to on-board their best employee, or rather an artificially intelligent document management system.

5 Innovations of Artificial Intelligence in Document Management Systems

Document management systems enhance the way businesses capture, store, route, and process information. Even with the added efficiencies of a document management system, staff report that they still face issues regularly. The general rule of thumb that applies to data management is, garbage in will result in garbage out. Human error, incomplete metadata, and duplicate files all lead to productivity issues in modern document management systems.

To solve these issues, researchers and developers looked for ways that artificial intelligence systems could help. Luckily, they found that a document management system and artificial intelligence work well together. Here are five ways artificial intelligence revolutionized document management.

1. Automatic Processing of Documents

Classifying a document correctly is essential for accurate processing. If the staff doesn’t get it right, the document goes into a black hole. To find it again, employees will need to browse through endless lists of files and view every document to correct the issue.

Artificial intelligence uses optical character recognition to classify the document automatically by reading the metadata. Optical character recognition in the past relied on humans to check and verify the results before loading information into a document management system. With artificially intelligent scanning of files, the system can capture, classify, and route the document accurately.

2. Data Extraction

Another area that required humans to open files was to check the actual contents of a document. While metadata provides context to help users search for a specific file, to verify it’s the correct document they’ll need to open the file in its native application.

An AI-powered document management system can accurately extract the contents of files and make it searchable based on the content. Combining the power of machine learning and optical character recognition will save staff a lot of time when looking for information in the system.

3. Document Clustering

An added layer of intelligence is by clustering documents without needing classification. A document management system that uses artificial intelligence can group documents based on topics, subtopics, or any other category the company needs.

This gives staff an extra tool in their belt to locate vital information from the system when they don’t know where to start looking. The company can decide how they want to organize the documents and let the artificial intelligence do all the hard work.

4. Advanced System Security

Artificial intelligence revolutionized how network security professionals protect their systems. The algorithms allow network-monitoring tools to identify suspicious behavior, reduce false incident reporting, and fend off persistent cyberattacks.

The same applies to a document management system that uses artificially intelligent security. If the system detects Personally-Identifying-Information (PII) on a document, it can encrypt the file automatically. The company can also opt to use biometric identification to ensure unauthorized users cannot access sensitive information.

5. Data Analytics for Improved Business Decisions

With all the accurate information in the system, artificial intelligence can help companies make better decisions using analytics. The company gains insights into their process efficiency, office trends, and resource loading thanks to an analytical layer on top of the document management system.

Artificial intelligence uses techniques like predictive analytics, data visualization, and machine learning to optimize the system. With data extraction, automatic classification, and document clustering, a business unit can see what’s going right or wrong during their workflows.

Future Proof Your Document Management System with Artificial Intelligence

Digital information is a valuable commodity in modern businesses. To keep track of the data and extract insights for better decision making, the company will need all the help they can get. Adding artificial intelligence to a document management system can help the company streamline its business operations.

First Phase Data can help organizations to develop and deploy the next generation of document management systems. Companies in Canada who need to leverage the latest technology and gain a competitive edge should partner with First Phase Data for the best results. Artificial intelligence can already optimize the company’s document workflows, but it’ll probably take a little longer before it can refill the breakroom’s coffee pot.

To find out more about how a document management system partnered with artificial intelligence can help your company in Canada, speak to one of First Phase Data’s technology experts today.

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