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Uses of Image-To-Text Technology in Daily Life

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Image-To-Text Technology

Extracting text from an image is a time-consuming and burdensome process. Manually keying in text from an image creates room to make mistakes while slowing down the process, especially when dealing with hundreds of images. Image-to-text tools make the process of extracting textual content from images fast and efficient. Advanced, Al-powered image-to-text converters pull text from any type and size of the image and present it in a neat and properly structured format.

Where Is Image-To-Text Technology Used Mostly?

Optical character recognition (OCR) uses state-of-the-art recognition tech to identify and record characters in an image. It then places the characters after each other to create words and readable sentences. People use OCR technologies to form vast databases, develop data indexes, and streamline content creation processes. The following are real-life situations that require you to get text-to-image services.

Convenience Stores

Cinemas, shopping malls, and grocery stores consistently use OCR technology to extract data from product images. Consumers use the technology to display digital coupons and promotional codes from their smart devices. On the other hand, business management teams use the technology to extract data from these coupons and codes.

These tools are important for helping convenience store operators target their marketing promotions effectively. It lets them profoundly analyze KPIs computed more accurately and without needing manual input. Also, the scanned documents from products offer valuable databases that clients can use to ease content creation. Such extensive databases allow convenience stores to create high-quality and relevant social media content, blogs, and website copies.

Explorers Can Convert Foreign Languages to Their Native Language

As people tour new cities, local towns, and villages around the world, they come across signboards in foreign languages. These signboards present a significant challenge as they have to get someone to translate into the languages they know and speak. That is where the right image-to-text software can come in to offer you the solutions you so much desire. Just take a picture of the billboard and upload it into the converter.

Many converters allow you to select the language you want the text to be delivered in. Therefore, you have to choose the language you can understand, and you’re good to go. It’s even cheaper and faster than hiring someone to translate billboards for you. Besides, a suitable converter will support a variety of image formats and generate a well-presented and easy-to-understand document containing your text.

Conversion of Traditionally Handwritten Text Into Digital Formats

Have you noticed many tourist and museum notes are handwritten? These documents and notes carry valuable information dating decades or even centuries back. However, they are difficult to read and understand, primarily due to the nature of the materials used. Besides, as time goes by, storing the materials becomes harder. Museum management teams often use OCR technology to convert handwritten notes and documents into digital ones. It’s one of the best ways for educational and research centers to keep digital records of research, scientific materials, and other vital documents.

Many image-to-text conversion tools support a variety of image formats, including the basic ones. You can upload and convert your GIF, JPEG, BMP, and PNG images into text in a language you understand.

Automating Data Input Processes

Manual data input is a time-consuming and costly endeavor. Having to pay several people to input data into your business systems takes time and doesn’t always guarantee accuracy. In many instances, manual data entry is associated with extremely high administrative costs and errors that could cost your business a lot of money. With image-to-text conversion tools assisting with the machine learning language and Al algorithms, it’s possible to extract valuable data from images and use them in the target areas of the software. That way, companies get to streamline and improve their data input processes while saving time and money.

Banking and Logistics

One of the primary industries that use OCR technology is the banking sector. They use the technology to process and verify financial transaction paperwork, including deposit checks and loan documents. Many banking firms use OCR software to process and analyze dozens of paycheck protection program forms every day, saving them time and money while ensuring clients get the financial services they need with minimal hassle.

Similarly, logistics firms rely on this technology to track receipts, package labels, and invoices. With this technology, these companies can eliminate the manual processing of invoices to eliminate errors and quicken the procedures.

Conclusion

OCR has existed since the early 1920s, but the latest versions of the technology are better and way more efficient and reliable. With it, people can do a lot and streamline various processes. As you can see above, the technology is applicable in virtually every industry and sector in today’s world. However, suppose the OCR technology cannot adequately or accurately extract info from an image. In that case, you’ll have to rely on text-to-image services from a company with professional transcribers.

Business

Payments tech company Lightspeed Commerce conducting strategic review of business

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MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.

The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.

Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.

A strategic review is often seen by investors as a prelude to a sale by a company.

Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.

Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.

This report by The Canadian Press was first published Sept. 26, 2024.

Companies in this story: (TSX:LSPD)

The Canadian Press. All rights reserved.

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Economy

Bank of Canada trying to figure out how AI might affect inflation, Macklem says

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OTTAWA – Bank of Canada governor Tiff Macklem says there is a lot of uncertainty around how artificial intelligence could affect the economy moving forward, including the labour market and price growth.

In a speech in Toronto at the Economics of Artificial Intelligence Conference, the governor said Friday that the central bank is approaching the issue cautiously to get a better understanding of how AI could affect its job of keeping inflation low and stable.

“Be wary of anyone who claims to know where AI will take us. There is too much uncertainty to be confident,” Macklem said in prepared remarks.

“We don’t know how quickly AI will continue to advance. And we don’t know the timing and extent of its economic and social impacts.”

The governor said AI has the potential of increasing labour productivity, which would raise living standards and grow the economy without boosting inflation.

In the short-term, he said investment in AI is adding to demand and could be inflationary.

However, Macklem also highlighted more pessimistic scenarios, where AI could destroy more jobs than it creates or lead to less competition rather than more.

The governor called on academics and businesses to work together to shed more light on the potential effects of AI on the economy.

“When you enter a dark room, you don’t go charging in. You cautiously feel your way around. And you try to find the light switch. That is what we are doing. What we central bankers need is more light,” he said.

This report by The Canadian Press was first published Sept. 20, 2024.

The Canadian Press. All rights reserved.

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Tech

United Airlines will offer free internet on flights using service from Elon Musk’s SpaceX

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CHICAGO (AP) — United Airlines has struck a deal with Elon Musk’s SpaceX to offer satellite-based Starlink WiFi service on flights within the next several years.

The airline said Friday the service will be free to passengers.

United said it will begin testing the service early next year and begin offering it on some flights by later in 2025.

Financial details of the deal were not disclosed.

The announcement comes as airlines rush to offer more amenities as a way to stand out when passengers pick a carrier for a trip. United’s goal is to make sitting on a plane pretty much like being on the ground when it comes to browsing the internet, streaming entertainment and playing games.

“Everything you can do on the ground, you’ll soon be able to do on board a United plane at 35,000 feet, just about anywhere in the world,” CEO Scott Kirby said in announcing the deal.

The airline says Starlink will allow passengers to get internet access even over oceans and polar regions where traditional cell or Wi-Fi signals may be weak or missing.

The Canadian Press. All rights reserved.

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