Smart Engines upgrades face biometrics feature as explosive OCR market growth forecast
Smart Engines has released an update to its catalogue of AI-driven Optical Character Recognition (OCR) software, including improvements to its biometric face matching and an expanded library of supported ID documents.
The new Smart ID Engine SDK 1.11.0 supports 1974 ID document types, with a total of 3010 unique supported templates worldwide. This includes 43 new ID documents and 15 new document subtypes that were not previously supported. It also offers refined accuracy in face biometrics, according to the announcement. Smart Code Engine 1.11.0 also improves accuracy for credit cards, and for recognizing characters in video streams. For large-scale business and corporate documents, Smart Document Engine v1.11.0 has added multi-page scanning capability.
All products now benefit from enhanced OCR for Arabic, Armenian, Georgian, Hebrew and Sinhala scripts.
Improved face biometrics were also among the upgrades in the SDK’s previous update.
The update comes on the heels of a new report from Straits Research showing that increases in productivity and jumps in technology are driving growth in the OCR market. The report cites OCR’s uses in BSFI, healthcare, transportation and other major industries as drivers for the global OCR market to reach a valuation of US$39.6 billion by 2030.
Founded in 2010, Smart Engines develops state-of-the-art technological platform GreenOCR for secure ID scanning which ensures privacy for companies as well as their customers. The scientific research of the company in the scope of Green AI initiative is aimed make AI environmentally friendly by reducing carbon footprint of computation. The company’s international clients include Tessi, Dukascopy Bank, Emirates NBD, Oman Arab Bank, Raiffeisen Bank, iDenfy, Sumsub, Travizory, Twino, and VerifyMyAge.
This post was updated at 8:58am Eastern on July 27, 2022 to clarify the types of documents the multi-page capability is intended for.