3 Natural Language Processing Use Cases

How does natural language processing work?

natural language processing examples

When we speak, we have regional accents, and we mumble, stutter and borrow terms from other languages. Natural language processing, machine learning, and AI have made great strides in recent years. Nonetheless, the future is bright for NLP as the technology is expected to advance even more, especially during the ongoing COVID-19 pandemic.

What is the best Natural Language Processing?

  • Amazon Comprehend An AWS service to get insights from text.
  • NLTK The most popular Python library.
  • Stanford Core NLP Stanford's fast and robust toolkit.
  • TextBlob An intuitive interface for NLTK.
  • SpaCy Super-fast library for advanced NLP tasks.
  • GenSim State-of-the-art topic modeling.

While documents in English are convenient to consider because there is a vast amount of academic research in the area, it clearly isn’t the case that all market-moving information originates in English. Consider the volume of important documents in any other language – be it Chinese or Russian, Japanese or Portuguese. Recently, large transformers have been used for transfer learning with smaller downstream tasks. Transfer https://www.metadialog.com/ learning is a technique in AI where the knowledge gained while solving one problem is applied to a different but related problem. These models are trained on more than 40 GB of textual data, scraped from the whole internet. An example of a large transformer is BERT (Bidirectional Encoder Representations from Transformers) [29], shown in Figure 1-16, which is pre-trained on massive data and open sourced by Google.

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We can apply our NLP on something like 500 companies in the S&P or 1,000 companies in the Russell and identify positive trends within a subset of companies. We have found that the top 100 companies with positive statements in the S&P 500 outperform the index by over 7% per annum. Rule-based approaches are basically hard-coding rules or phrases to look up within text. For example, if I want to extract sentences with revenue, I can simply look for the word “revenue” as a rule.

  • Natural language processing operates to process human languages and overcoming ambiguity.
  • Thus, a model that can progressively read an input text from one end to another can be very useful for language understanding.
  • When it comes to AI approaches, you are, in essence, allowing software to create its own dictionary.
  • However, training data is difficult to find for every domain, and there is a performance decreases when it is tested in a domain different to the one trained in.
  • Word sense disambiguation (WSD) refers to identifying the correct meaning of a word based on the context it’s used in.

It is one of the technologies driving increasingly data-driven businesses and hyper-automation that can help companies gain a competitive advantage. In future, this technology also has the potential to be a part of our daily lives, according to Data Driven Investors. The bottom line of a deeply bidirectional model is that it is better at working out the meanings natural language processing examples of ambiguous words than any of its predecessors. This is why Google is able to say that queries containing small but important prepositions (words like ‘to’ and ‘for’) will be easier for its search engine to understand. Unidirectional models are normally trained to predict the next word in a sequence, which works because they can’t ‘see’ what comes next.

Topic Classification

This way, the order in which new edges are added to the agenda does not matter. A more flexible control of parsing can be achieved by including an explicit agenda to the parser. The agenda will consist of new edges that have been generated, but which yet to be incorporated to the chart. Agenda-based parsing does not assert new edges immediately, but instead adds them to an agenda or queue. Top-down active chart parsing is similar, but the initialisation adds all the S rules at (0,0), and the prediction adds new active edges that look to complete. Now, our predict rule is if edge i C → α j X β then for all X → γ, add j X → j γ.

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Why do we need NLP in AI?

It also plays a critical role in the development of AI, since it enables computers to understand, interpret and generate human language. These applications have vast implications for many different industries, including healthcare, finance, retail and marketing, among others.

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