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NLP in Business: Applications & Cases

 

Natural Language Processing (NLP) has experienced impressive advancements in recent years and is now playing an increasingly significant role in various fields, including business, healthcare, government, and education. As a result, NLP has transformed how we interact with technology and the world around us. The global natural language processing (NLP) market is projected to grow from $26.42 billion in 2022 to $161.81 billion by 2029 at a CAGR of 18.1%[1].

 

NLP is a branch of Artificial Intelligence (AI) that enables computers to comprehend, interpret, and respond to human language. It is a crucial technology for businesses looking to improve operations, enhance customer experiences, and gain a competitive advantage. This article explores how real-world NLP is utilized to streamline workflows and automate tedious tasks.

 

Common Natural Language Processing Tasks.

 

  1. Text classification is the process of categorizing text into different categories, such as spam or not spam, positive or negative sentiment, and news or opinion. It is used in various applications, including email filtering, social media monitoring, and content classification.
  2. Named Entity Recognition (NER) is the process of identifying and extracting named entities from text, such as names of people, organizations, etc. It is used in a variety of applications, including information retrieval, document classification, and social media analysis.
  3. Sentiment Analysis: This task involves determining the sentiment or emotion expressed in a piece of text and, for example, determining whether a tweet is positive or negative.
  4. Multilingual NLP: With the increase in global communication, multilingual NLP has become an essential area of research. Recent advancements in this area have led to the development of models that can understand and generate text in multiple languages, enabling communication that is more effective across language barriers.
  5. Text Summarization: This task involves generating a summary of a longer piece of text while retaining the essential information.
  6. Language Generation: This task involves generating natural language text or speech based on a set of rules or input data.
  7. Question Answering: This task involves automatically answering questions posed in natural language.
  8. Text Similarity: This task involves measuring the similarity between two pieces of text based on various factors such as word choice, syntax, and context.
  9. Text Clustering: This task involves grouping similar pieces of text together based on various factors such as topic, sentiment, or language.

 

Emerging Trends and Opportunities of NLP

 

One of the most significant values of NLP is its ability to improve customer experience. For example, Chatbots, which are powered by NLP, can be used to provide quick and efficient customer service. They can be integrated with websites and mobile applications to help customers with queries and issues without the need for human interaction. This saves time and improves customer satisfaction, as customers can get their questions answered quickly and easily 24/7.

NLP is used by businesses to analyze customer feedback and improve their products and services on the base of Sentiment analysis. By understanding the sentiment behind customer reviews and feedback, businesses can gain valuable insights into what their customers want and how they can improve their offerings. This can lead to improved customer satisfaction, increased loyalty, and, ultimately, more business.

Language translation is also a practical application of NLP, which can bridge language barriers and connect people worldwide. Machine translation, which NLP powers, has improved significantly in recent years, with companies like Google, Microsoft, and Amazon investing heavily in this technology. Machine translation is used in various settings, including global businesses, tourism, and education, making it easier for people to communicate and share information across borders.

In healthcare, NLP is being used to improve patient care and outcomes. For example, electronic health records (EHRs) contain a wealth of information about patients, but the sheer volume of data can be overwhelming for healthcare professionals. NLP can be used to extract meaningful information from EHRs and present it in a more manageable format, enabling healthcare professionals to make more informed decisions about patient care.

NLP is also being used in education to improve the learning experience for students. Again, chatbots can provide personalized student support, answering questions and providing assignment feedback. In addition, text classification can be used to categorize educational content and make it easier for students to find the necessary information.

 

Sample use case

Let’s look at a couple of use cases that utilize both natural language processing translation tools and a service that categorizes and routes text information in more detail.

 One of the largest companies has a help desk with over 200 internal staff who work 24/7 to handle tens of thousands of customer requests daily. These requests cover various technical issues, including problems with various corporate systems, computer operations, servers, telecommunications, and other technological equipment. The requests are submitted in different languages. Those requests require careful reading, comprehension, and delegation to the appropriate department responsible for the task at hand. This department can be an internal unit within the company or an external contractor. With roughly 3000 performers or classes in our case, directing problems to the correct destination can prove challenging. In addition, understanding the problem from a text message can be difficult, leading to errors by operators handling the applications.

This, in turn, results in economic losses stemming from delayed problem resolution. To tackle the problem at hand, the company established two goals: enhance the precision of request classification and accelerate message processing. The solution was suggested, an NLP-based system that automatically classifies and routes requests to the appropriate performers or departments without involving a qualified specialist. With this automated system, more than 40% of requests can be resolved with a classification accuracy of the threshold over 95%, which results in improved accuracy, speed of classification, and customer satisfaction. Look at Figure 1- The block diagram that shows how service routing for support requests works using NLP algorithms.

The second very similar case of using NLP is for an extensive logistics company department that deals with complaints sent via text messages. This department receives many email messages in different languages containing complaints, categorized into 24 typical answers of first-line support. However, manually processing these emails takes too much time, and mistakes are often made in classifying them correctly.

An NLP-based solution was implemented to sort and categorize incoming emails automatically to address this issue. This solution significantly improved the accuracy of classification compared to manual processing, and it sped up the processing of messages.

The benefits of this solution include improved accuracy and speed in handling complaints, automation of over 60% of the complaint-handling process, and the ability to process complaints correctly without the need for a qualified specialist. Ultimately, this improves customer satisfaction.

 

How global brands are utilizing NLP.

 

To understand how widely NLP is used, look at some real-world examples of businesses using NLP to transform their operation:

American Express uses NLP to analyze customer feedback and identify common issues. This information is used to improve customer service and product offerings[2].

Uber uses NLP to improve its driver and passenger experience. NLP algorithms are used to analyze customer feedback and identify areas for improvement, such as driver behavior or app functionality[3].

Coca-Cola uses NLP to analyze social media posts and track customer sentiment. This information is used to improve marketing campaigns and product offerings[4].

Airbnb uses NLP to improve its search functionality and provide more personalized recommendations for users. They use NLP algorithms to analyze user search queries, booking history, and data from property listings to provide more accurate and relevant offers[5].

eBay uses NLP to improve its customer service and reduce response times. They use NLP-powered chatbots to handle routine customer inquiries and provide support 24/7. In addition, the chatbots can understand and interpret natural language queries, providing a more conversational and efficient customer service experience[6].

These case studies demonstrate the wide range of applications for NLP in business operations, from customer service and marketing to fraud detection and financial analysis, automation of support teams, etc.

 

Conclusion

 

NLP is a critical technology transforming industries such as healthcare, education, government, and business. It automates tasks, improves customer experience, and gains insights from data. The technology can accurately extract meaningful knowledge (entity, facts, and the relation between facts, etc.) and insights contained in the documents. It can also classify, categorize and organize documents, as well as conduct intelligent searches. NLP is used to optimize the many manually intensive routines that require text processing.  Advancements in NLP will revolutionize our interaction with technology and the world.

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Key Milestones

january 15, 2025

january 04, 2025