Natural Language Processing (NLP) is a field of Artificial Intelligence (AI) that focuses on the interaction between computers and humans using natural language. Over the years, Natural language Processing has achieved steadiness in the IT Industry. It has been able to revolutionize the way IT operations are carried out now.
NLP is a real game changer for IT operations. NLP is constantly evolving and massively impacting our world. It started limited and basic as rule-based methods. With increased data, it progressed to exponential learning using simple question-answering, predictive text, and more. NLP has been evolving and revolutionizing IT operations ever since, and now we are at a stage where we even fuse models to collaborate with each other. NLP is only getting better and improving its accuracy at a frightening speed. This is the future of the digital world.
What is Natural Language Processing?
We all agree that human language is extraordinarily complex, and machines struggle to comprehend things like intent, emotion, and interpretation. Natural Language Processing (NLP) is a field of Artificial Intelligence (AI) that focuses on the interaction between computers and humans using natural language. To be more precise, NLP is concerned with teaching computers to understand and interpret human language, including speech and text. Natural language processing narrows the communication gap between humans and computers. Natural language processing is the MOST important component of Artificial Intelligence. Since companies see business potential because of NLP, they eagerly invest in NLP-based solutions.
Below are the ways how Natural language processing is revolutionizing IT operations: Let’s go through them!
- It saves Time and Money
A core need of businesses is to earn huge profits without wasting their time and resources. Their utmost priority is to cut costs and optimize revenues. For this matter, we can’t thank NLP enough, as it has been the best resort for saving time and money while promoting services and products. Research says that chatbots can help organizations save up to 25% on customer service costs. NLP can easily automate many customer service operations by answering simple questions. This means you can hire fewer customer service/call center employees. Companies can free up time for their staff by using NLP-powered chatbots. This allows them to concentrate on more creative tasks, such as engaging clients in order to generate leads and revenues.
Moreover, NLP models without investments can evolve and exhibit higher accuracy over time. It can be achieved by allowing NLP models to test and train with more data, boosting the models’ performance and efficiency.
- User Generated Content
Natural language processing moderates user-generated content. Now you can use the technology to enforce spam filters and eliminate unwanted content; on your company’s websites and in email. Imagine you write a blog for your company’s website that attracts lots of comments. NLP lets you moderate the user-generated content published by readers, enabling you to maintain your forum’s quality while avoiding controversy, unsolicited advertising, or backlinks to malicious sites — but the role of such solutions isn’t only to detect “forbidden” words or vulgarisms. Even if the text contains no offensive comments, a model could still classify it as hate speech. How’s that possible? Advanced NLP models, assuming they receive the appropriate amount of data, can learn to read the context of a sentence and classify it into the right group.
- An Even better customer support
We are living in a world that is evolving rapidly. Any kind of lag is strictly unacceptable in today’s fast-paced world. Be it getting a prompt reply to your queries or ordering something online. Everything has to be quick. Latency is no longer acceptable. We appreciate instant responses. Research says that 52% of consumers prefer chatbots because they provide quick answers. Businesses have smartly replaced their customer service teams with chatbots, an AI-powered technology that enables humans to get customized responses to their queries and immediate support while purchasing. NLP is the AI technology that allows chatbots to understand, evaluate, and answer client queries in real time. They are well-versed with predefined answers and hold human-like conversations on mobile applications and desktop applications.
- Visitors to Customers
It is a key focus of Digital Marketers to convert site visitors to customers or potential leads. And for this purpose, marketing executives use methods to optimize conversion because — the better the rate, the lower the customer acquisition cost. It is indeed a crucial step for them. Here NLP solutions come in handy. NLP solutions are masters of conversion optimization. Offerings include our much-loved chatbots alongside simple-looking features like auto-complete text and more advanced search functionality. The premise is simple: anything you do to make visitors dwell on your website will likely make them more willing to buy or use your services. NLP addresses the pressing issue by making machines understand the syntax and semantics of the human language.
Natural language processing plays a critical role in deriving business intelligence from raw business data and sales and marketing data. This means NLP will be the key to shifting many legacy companies from data-driven to intelligence-driven platforms, helping us humans get the insights we need to make decisions. NLP has changed the way we interact with computers and machines. What started as complicated, handwritten formulas is a streamlined set of AI-powered algorithms. NLP will continue to shape and improve communication technology in the future.
