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Natural Language Processing (NLP)

Posted by Arup Das on February 12, 2018
 

Natural Language Processing is the study of the interactions between human language and computers. It is the ability for a machine to analyze, understand, and generate human speech. “Natural language” is the native language people speak such as English, Spanish, French, and Mandarin. Essentially what it does is it takes strings of words as inputs and generates a meaning from the input. Natural Language Processing is a branch of artificial intelligence and is achieved with machine learning and deep learning. Machine learning is the ability for a computer to learn without being explicitly programmed. Deep learning is achieved by feeding tremendous amounts of data into neural networks, mimicking the human brain.

Natural Language Processing has been getting more popular as technology advances. Businesses have started to rely on natural language processing to automate their processes, reducing prices and increasing efficiency.

Applications of Natural Language Processing

Spam filters

NLP can be used to filter out emails, determining which emails are good and which are spam. This is done by having NLP determine the meaning of the message and checking if it’s relevant to the user.

Text classification / Sentiment Analysis

As technology advances and IoT grows, larger amounts of data will be produced and available. Using NLP, businesses can sort distinguish the file types at a faster rate, allowing the business to quickly organize the data. Using NLP will also allow organizations to understand customer reactions to improve customer experience. With this analysis, they can also change their marketing position based on the reactions.

Information Summarization

NLP will allow organizations to take in large amounts of data and quickly generate meaningful data from it.

Algorithmic trading

“Using NLP, this technology reads news stories concerning companies and stocks and attempts to understand the meaning of them to determine if you should buy, sell, or hold onto certain stocks.”

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