A naukri.com initiative
Dev
1M
0
Image Credit: Dev
Real-world Uses of Natural Language Processing (NLP) in the Business Sector
- Natural Language Processing (NLP) is impacting different industries by streamlining processes and enhancing user interactions.
- The healthcare sector uses NLP for processing medical records and providing insights into extensive medical resources, ultimately boosting patient results.
- Numerous companies in customer service use NLP-powered chatbots to respond to customer queries promptly and improve overall satisfaction.
- NLP tools assist in handling and evaluating unstructured financial data, leading to quicker decision-making and enhancing accuracy, and fraud detection.
- NLP assists online businesses in tailoring recommendations by analyzing customer data, resulting in quicker and more appropriate outcomes, aiding customers in finding precisely what they desire.
- NLP is utilized in education to automate the process of grading and provide uniform feedback to students and to develop more intelligent educational resources.
- The NLP market will hit $43.5 billion by 2027, with a 20.3% CAGR, as predicted by Grand View Research.
- The fast progress in NLP, driven by deep learning and AI, foretells more revolutionary uses in the future.
- As companies increasingly embrace and dedicate resources to NLP, we can anticipate further incorporation of this technology, enabling companies to gain a deeper insight into and cater to the needs of their customers.
- Despite its complexity, the technology behind NLP is clearly benefiting industries by making them more intelligent, efficient, and adaptable.
Read Full Article
Like
For uninterrupted reading, download the app