Natural Language Processing

by Global Market Research Analyst

Natural language processing (NLP) is a branch of artificial intelligence that contributes to the understanding, interpreting, and manipulating of human language. NLP technology draws on a variety of disciplines to bridge the gap between human communication and computer understanding, such as computer science and computational linguistics. Computers can communicate with humans using this technology and scale other language-related tasks. The use of machine learning does not necessarily require syntactic and semantic knowledge. Market database states that the importance of this technology lies in its ability to help resolve ambiguity in language and add convenient numeric structure to the data for downstream applications, such as speech recognition and text analytics.

Recently, Toronto-based Klass Capital financed an Italian-based AI-driven data startup Wonderflow. According to the market database, today, enterprises that generate a large amount of unsolicited feedback are unable to utilize the data they have collected. Wonderflow's proprietary AI, can evaluate unstructured feedback, from a variety of sources, and assist businesses to improve customer experience. The analytics sector of Wonderflow focuses on Voice of Customer (VoC). Klass's partnership with them represents a significant step forward in global expansion plans. To maintain their leadership in Natural Language Processing, Prediction, and Narrative Insights, they will continue to invest in Artificial Intelligence.

Researchers, postdocs, and students at the ItaliaNLP Lab at the National Institute of Computational Linguistics pursue research on developing resources and algorithms for processing and understanding human languages, with attention to the Italian language.

According to the market database, the prime focus of the research is to design, develop, and test models, methods, and technologies for NLP technology spanning from probabilistic tagging and parsing, domain-specific information extraction, and adjustment to application-oriented responsibilities such as readability evaluation or native language description. Various international and national projects are being implemented through partnership agreements and participating in national and international initiatives focusing on different NLP challenges.

For more details:- https://globalmarketdatabase.com/natural-language-processing-market/