The need for NLP arises due to its ability to bridge the gap between human language and computer understanding, with real-world applications and various tasks.
Common approaches to NLP involve Regular Expression, Wordnet, Open Mind Common Sense, Machine Learning-based methods like Navies Bayes, Logistic Regression, SVM, LDA, and Deep Learning-based approaches using architectures like RNN, LSTM, GRU/CNN, Transformer, and Autoencoder.
NLP faces challenges in transitioning from basic language rules to achieving human-like conversations, leading to the emergence of more intelligent and context-aware systems.