Unlocking the Potential of Natural Language Processing
Author: Sarah WalkerSentiment analysis is one real-world application of NLP that has been gaining prominence. It is used in a variety of applications such as social media monitoring, customer feedback analysis and market research. For instance, sentiment analysis of the stock market allows investors to analyze tweets or news stories about a particular stock to assess the overall attitude of the market toward that stock. This helps investors to make informed investment decisions.
Chatbots can also be created by using NLP, enabling customers to obtain the information they need in a user-friendly way. A multinational corporation can take advantage of this by using NLP to translate product descriptions and marketing materials into the languages of its target customers.
NLP is also being used in content summarization, machine translation and speech recognition. Content summarization involves condensing lengthy articles into shorter versions, while machine translation translates text from one language to another. Speech recognition allows people to convert spoken language into text, which opens up possibilities such virtual assistants like Alexa and Google Assistant, speech-to-text transcription services, and other voice-based applications. All of these applications are revolutionizing the way people interact with technology.