Summary
Amazon Textract is a deep learning-based service that converts different types of documents into an editable format, and is available to anyone at a very low price.
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It has the ability to extract text and tables from documents at a fraction of the cost of current players
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, and can store all the vital information from documents on excel/spreadsheets.
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This has implications for other industries, as it has the potential to disrupt the business model of a company that is not a cloud provider.
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Summary
Amazon's Textract OCR service has killed the OCR industry, demonstrating that big cloud providers can dominate a new industry by using machine learning rather than by acquiring start-ups or established players. This has implications for other industries, such as data/spend analytics and robotic process automation, as well as start-ups, as it has the potential to disrupt the business model of a company that is not a cloud provider. With Textract, Amazon has the ability to extract text and tables from documents at a fraction of the cost of current players, and it is now available to anyone at a very low price.
Amazon Textract has just killed the OCR industry. Who’s next, who’s safe?
spendmatters.com
Summary
In simple terms, AWS Textract is a deep learning-based service that converts different types of documents into an editable format. Consider we have hard copies of invoices from different companies and store all the vital information from them on excel/spreadsheets.
AWS Textract Teardown - Pros and Cons Reviewed
nanonets.com
