Startups
Applications for natural language processing have exploded in the past decade as advances in recurrent neural networks powered by GPUs have offered better-performing AI. This has enabled startups to offer the likes of voice services, language tutors, and chatbots.
Healthcare
One of the difficulties facing health care is making it easily accessible. Calling your doctor’s office and waiting on hold is a common occurrence, and connecting with a claims representative can be equally difficult. The implementation of NLP to train chatbots is an emerging technology within healthcare to address the shortage of healthcare professionals and open the lines of communication with patients.
Another key healthcare application for NLP is in biomedical text mining—often referred to as BioNLP. Given the large volume of biological literature and the increasing rate of biomedical publications, natural language processing is a critical tool in extracting information within the studies published to advance knowledge in the biomedical field. This significantly aids drug discovery and disease diagnosis.
Financial Services
NLP is a critically important part of building better chatbots and AI assistants for financial service firms. Among the numerous language models used in NLP-based applications, BERT has emerged as a leader and language model for NLP with machine learning. Using AI, NVIDIA has recently broken records for speed in training BERT, which promises to help unlock the potential for billions of expected conversational AI services coming online in the coming years to operate with human-level comprehension. For example, by leveraging NLP, banks can assess the creditworthiness of clients with little or no credit history.
Retail
In addition to healthcare, Chatbot technology is also commonly used for retail applications to accurately analyze customer queries and generate responses or recommendations. This streamlines the customer journey and improves efficiencies in store operations. NLP is also used for text mining customer feedback and sentiment analysis.