What is Natural Language Processing? Innovation in Business

If you’re wondering, what is Natural language processing?, you’re not alone. Many businesses are adopting this innovative technology. According to IBM’s Global Adoption Index, almost half of all companies are using NLP in some capacity. Despite its shortcomings, NLP is becoming increasingly popular and applications are constantly evolving. With its power to predict and respond to human language, NLP is transforming business operations. It can help businesses reduce the number of monotonous tasks employees have to perform, and improve their customer relations.

A perfect example of NLP’s potential for contact centers is in the improvement of interactive voice response (IVR) systems. It recognizes a variety of responses to common queries. In fact, research shows that 60 percent of consumers are unhappy with the standard IVR response. Using NLP to recognize different responses provides more options to customers. The technology can also be used in outbound and inbound customer support. By identifying the language of the person who is calling, an automated system can route the call to an agent who is native in the language.

NLP is currently being used in a number of ways, including social media chats and AI-powered question-answer systems. Siri and IBM’s Watson are two examples of question-answer systems. Watson, a computer developed by IBM, even competed on the game show Jeopardy in 2011. It beat two of the game show’s all-time champions and won! Other uses for NLP technology include automatic text summarization, which involves condensing text while preserving its meaning. This technology is already used in news headlines, web search results, bulletins, and even social media posts.