Updated: Jan 24
Document Management Systems (DMS) are essential for all companies to store their documents nowadays. An effective DMS ensures that your documents are organized and properly saved, making any future document search and retrieval process easier. It’s a well-known fact that documents’ classification is among the most important and time-consuming tasks in the archiving process. However, Artificial Intelligence (AI) can play an important role in the future of document management systems by reducing the archiving process time and providing many more features that completely transform modern DMS. Here are 5 ways to which artificial intelligence is reinventing modern document management systems:
Documents Classification: Optical Character Recognition (OCR) is an artificial intelligence technology used to improve document classification by enabling the DMS to extract information from documents, correctly classify it, and then store it in the DMS. Machine learning is being used to improve the identification and processing capabilities of such a system. For example, an AI-powered DMS can identify the document type based on its content whether it’s an Invoice, PO, National ID, etc.
Data Extraction: An AI-powered DMS can take data extraction to a whole new level, by being able to accurately read information and understand contexts. All the data is analyzed and crawled through to retrieve relevant information from a DMS in a specific pattern. As business is continually inundated with more and more data, it becomes significant to extract the relevant data to accomplish a certain task. With the help of blending your DMS with machine learning consulting, you can develop a system through which your employees can easily extract the information they want. This also helps in saving a lot of time which would have been otherwise spent on extracting the information needed from documents.
Document Clustering: In document clustering, all documents are grouped by topics without prior classification. This process is made easy with the help of AI technologies. An AI-powered DMS facilitates effective assigning of documents to different topics or topic hierarchies when these topics or hierarchies are not known in advance. This helps you to understand how documents are related to one another within a wider context. It allows you to make inferences and find out similarities that would not have been possible earlier.
Advanced Security: With the help of an AI-powered DMS you can easily enhance security and protect your customers’ data because this kind of DMS can detect sensitive and personal identifying information (PII). You can also flag documents that require special handling. Furthermore, with the help of automatic classification and processing, there are no documents left in unsecured locations while waiting to be actioned. You can also prevent unauthorized viewing or alteration of documents by securing user access with secure biometric techniques, like facial recognition, so that only the employees who have authorized access to the system can use it.
Data Analytics: The most interesting prospect of AI in DMS is the potential for analytics and the value this can bring to your business. You can improve your decision making and optimize all your business processes by using data collection and applying techniques such as machine learning, predictive analytics, and data visualization.