Natural Language Processing
Natural language processing (NLP) allows applications to interact with human language using a deep learning algorithm. NLP algorithms input language and can give a variety of outputs based on the learned required task. These outputs can include automatic summarization, language translation, part-of-speech tagging, parsing or grammatical analysis, and sentiment analysis, among others.
NLP algorithms can also provide voice recognition and natural language generation, which converts data into understandable human language. Some examples of NLP use include chatbots, translation applications, and social media monitoring tools that scan Facebook and Twitter for mentions. Natural language processing algorithms are an example of a deep learning algorithm and may be a pre-built offering in an AI platform.
To qualify for inclusion in the Natural Language Processing category, a product must:
- Provide a deep learning algorithm specifically for human language interaction
- Connect with language data pools to learn a specific solution or function
- Consume the language as an input and provide an outputted solution
An example of this is the next-gen AI “Viv” developed by the team behind Siri. For consumers, Viv is depicted to be the intelligent interface to everything. Here is a video with the co-founder Dag Kittlaus demonstrating Viv’s capabilities at a recent AI conference in NYC.
Unstructured Data Applications
Unstructured data refers to the wide range of data that is not in a database, spreadsheet or otherwise defined such as transactions. Much of what we see and hear is “unstructured.” This includes news feeds, social media posts, images/photos, documents, texts, emails etc. It also includes valuable information that is not public such as doctors’ notes, test results, reports.
Companies are increasingly making use of this unstructured data to enhance their ability to attract and retain valued customers. One company, Banjo, has created a service called “Crystal Ball” which gathers this unstructured data globally and in real time, makes sense of it, and provides it to several thousand commercial clients as news feeds often in less than a minute.
Banjo’s CEO Damien Patton describes his journey and Crystal Ball in this video.
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