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Natural Language Processing (NLP) is the use of Artificial Intelligence algorithms to process, understand and generate human text and speech. NLP technology is being used with chatbots, smart machines, and language translation applications.
Walt Kristick, senior vice president at apexanalytix, said that “NLP breaks down words into their simplest form and identifies patterns, rules and relationships between them. It uses computer algorithms to parse and interpret written and spoken natural language to allow systems to learn and understand human languages. There is a growing demand for the ability to analyze and extract meaning for text and non-related data sources, especially in the healthcare and life sciences markets.”
NLP technologies can be a useful tool for the enterprise because it facilitates easier communication and dissemination of information. NLP enables greater interaction with customers, clients, and employees, and it can be used to extract information from documents, like deadlines and terms and conditions.
Lili Cheng, corporate vice president of conversational AI at Microsoft, told CIO that “you don’t want to over promise; AI is not magic but there are so many things natural language tools can improve. The biggest problems your company has today are probably organizing your information, getting more out of the documents that you have and letting people who have the expertise guide that. The experience we’re in right now with a lot of people working remotely, we can make it better with AI.”