Understanding Intelligent Document Processing Intelligent Document Processing is a transformative technology that automates the extraction, interpretation, and management of data from a wide range of document types. By combining artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and optical character recognition (OCR), IDP enables organizations to convert unstructured data into usable, structured formats with high accuracy. This evolution from manual data entry and rule-based automation to intelligent systems significantly enhances operational efficiency and decision-making. Key Components Powering IDP Solutions The core of Intelligent Document Processing lies in its ability to process both structured and unstructured data. OCR scans and digitizes printed or handwritten documents. NLP enables the system to understand and analyze human language within documents. ML models improve the system's accuracy over time by learning from corrections and feedback. When combined, these technologies ensure that IDP platforms not only read and extract data but also understand the context and intent behind the information. Business Applications Across Industries Intelligent Document Processing is being widely adopted across industries such as finance, insurance, healthcare, legal, logistics, and government sectors. In banking and finance, IDP helps in automating loan processing, KYC compliance, and invoice reconciliation. Insurance companies utilize IDP to manage claims documentation, underwriting files, and customer correspondence. Healthcare providers benefit from streamlined patient data entry, medical record management, and billing processes. Legal firms use IDP to sift through contracts, discovery documents, and case files with reduced manual effort. Source: https://www.marketresearchfuture.com/reports/intelligent-document-processing-market-10629