Today, the technological landscape is changing at breakneck speed, with AI in the hot seat. AI-based systems and robots are invading our daily lives. We need a language that can help us speak with the new generation of intelligent, cognitive machines. Natural Language Processing (NLP) is helping bridge the divide between humans and machines.

Simply put, NLP helps computers understand what humans are saying. To do this, it leverages machine learning, computational linguistics, and semantics analysis.

While machine learning algorithms help NLP to learn from data and make predictions or decisions, computational linguistics helps it process and analyse language data to help machines understand the language. Ultimately, semantic analysis acts as the final layer making it possible for machines to understand the nuances of human languages so it can respond appropriately.

All of this makes NLP crucial for businesses across industry verticals.

Powering businesses with NLP

There are multiple use cases for NLP in the real world.

Today, chatbots across the Internet use NLP to respond to customer queries and even provide personalized recommendations on the basis of the questions asked. So, a business no longer needs to invest in large, off-site call centres to address customer concerns thus helping it reduce operational costs.

NLP also makes it possible for businesses to analyze mountains of text data – whether from customer reviews, social media, and surveys and gain granular insights on market trends, customer sentiments, and even competitor analysis. This can help a business make better, data-driven decisions in brand management and provide proactive response to customers.

NLP improves the time-to-market of software systems by augmenting coding tasks such as completion, generation, documentation, translation, and validation. NLP achieves state-of-the-art accuracy in low-resource natural languages and programming languages too.

Similarly, language across geographies is no longer a concern for multinational companies with NLP-powered language translation tools facilitating seamless communication, opening new opportunities for expansion.

Unleashing the power of NLP

Since it fosters more intuitive interactions between humans and machines, NLP models offer multiple benefits beyond industrial usage.

Accessibility: NLP technologies make it possible for screen reading applications and voice recognition software to make every day a little easier for differently abled people.

Personalisation: When your favourite streaming platform or e-commerce app offers personalised recommendations, it is NLP that’s working its magic in the background.

Powering smart homes: Similarly, voice-activated assistants such as Alexa and Siri are able to comprehend and execute spoken commands because of strong NLP technologies. These assistants, in turn, power automotive systems and smart homes.

Patient care: NLP also assists doctors and healthcare professionals make better diagnosis by extracting valuable information from electronic health records, research papers, and patient narratives.

Mount Sinai, an elite American hospital, is a great example of NLP at play in patient care. It has invested in NLP-powered AI solutions that help healthcare professionals analyse vast volumes of medical literature and patient records and offer doctors treatment recommendations.

JP Morgan Chase's COIN (Contract Intelligence) software also uses natural language processing to help its legal team comb through and analyze copious volumes of legal documents helping the bank save on billable hours.

Where will NLP go from here?

We are only scratching the surface of what NLP can do. In the near future, virtual assistants will become even more intuitive as they learn to have more natural and context-aware conversations. As machines learn to understand slang, colloquialisms, and other emerging dialects, it will be virtually impossible for the user to tell if they’re being serviced by a chatbot or a human being online.

NLP will evolve further to include multi-modal functionality that can go beyond text to comprehend images and videos making it possible for businesses, human beings, and even artists to offer more immersive and interactive user experiences.

All of this will also necessitate the implementation of ethical AI principles as conversations around privacy, bias, and fairness come to the fore.

Indeed, Natural Language Processing is ushering in an era of seamless communication and interaction. By helping businesses get sharper insights and improving multilingual communication, NLP is also powering the growth engine. And by fostering intuitive interactions, it is making global accessibility a real possibility. With application across sectors – from healthcare to education and beyond – NLP technologies are set to play an even more important role in our everyday lives.

• Photo by Cash Macanaya on Unsplash