Extracting frequent characteristics of two or more classes and integrating or combining them into a generalized superclass this process is known as Generalization. The common characteristics can be attributes or methods.

We can say that Generalization is a process of taking things from different sources and merging them into a single one.

Specialization is the reverse process of Generalization means creating new sub classes from an existing class.

Let’s take an example of Bank Account; A Bank Account is of two types – Current Account and Saving Account.
Both the account includes the common/ generalized properties like Account Number, Account Balance etc from a Bank Account and also have their own specialized properties like interest rate etc.

Specialization process is splitting things from single sources and splitting it into multiple forms