Machine learning based system and method for automatically extracting and correcting financial information from documents

Abstract

A machine learning based (ML-based) method and system for automatically extracting and correcting financial information from documents, is disclosed. Initially, the documents are obtained from data sources and pre-processed to generate the pre-processed data associated with contents within the document. The contents are classified as potential key-value pairs corresponding to the financial information based on the system prompts and extracted using the ML model. The potential key-value pairs are corrected to obtain the corrected key-value pairs based on custom prompts, using the ML model. The corrected key-value pairs corresponding to the financial information are provided as the output to the end users on user interfaces associated with an electronic device. This technique extracts financial information regardless of structure or alignment by learning to recognize any added or removed prefixes or suffixes, enabling the prefixes or suffixes to make corrections and generate accurate key-value pairs.