How to Extract Key Information from Business Documents using LayoutLMv3

<p>A lot of businesses produce a ton of documents every day, which in turn are consumed by other businesses. Some of these businesses include: legal firms, accounting firms, and e-commerce.</p> <p>This requires a ton of manual labor to read, understand and extract the right information.</p> <p>We can definitely do better.</p> <p>Here&rsquo;s one of the best approaches out there for document understanding which I personally tried.</p> <p>Introducing LayoutLMv3.</p> <p>LayoutLMv3 falls into the category of algorithms and models within the field of Intelligent Document Processing or IDP for short. This field aims to make document understanding easier for computers.</p> <p>The better IDP algorithms become the more streamlined the process of consuming and digesting information inside different document formats becomes.</p> <p><a href="https://pub.towardsai.net/how-to-extract-key-information-from-business-documents-using-layoutlmv3-b6b2b608a534">Website</a></p>