In the enterprise world, Natural Language Processing (NLP) has become an essential component of the digital business strategy due to the advantages the technology affords in terms of customer experience, operational effectiveness, and data-driven decision-making. NLP helps companies understand and utilize the vast amount of unstructured text and voice-based data being generated every day. It automates the task of reading text or hearing speech, interpreting it, analyzing the sentiment, and generating appropriate responses.
NLP technology is witnessing rapid adoption across industries—such as retail, CPG, healthcare and pharma, banking and FinServ, and travel and hospitality—owing to its vast untapped potential and growing use cases.
The infographic below presents an overview of NLP and some of its key industry-specific use cases. It reveals why NLP applications—particularly intelligent chatbots and voice-enabled channels—have become a key focus area for enterprises.