Towards Intelligent Automation: Document Classification
Every day banks received hundreds of documents, as part of different applications, e.g., home loans, personal loans, bank guarantee etc. Dedicated team members spend 10-15 minutes per application and classify these documents based on their types. This process is manual, laborious and thus costly. The document classification algorithms help us automatically classify documents without human intervention. In this presentation, we investigate different methods for document classification and discuss how to choose the right algorithm in different real-world scenarios. We also discuss how to deal with different data such as text and image data for document classification.
