Natural Language Processing Applications in Business

Increasing dependency of humans on computer-assisted systems has led to researchers focusing on more effective communication technologies that can mimic human interactions as well as understand natural languages and human emotions. The problem of information overload in every sector, including business, healthcare, education etc., has led to an increase in unstructured data, which is considered not to be useful. Natural language processing (NLP) in this context is one of the effective technologies that can be integrated with advanced technologies, such as machine learning, artificial intelligence, and deep learning, to improve the process of understanding and processing the natural language. This can enable human-computer interaction in a more effective way as well as allow for the analysis and formatting of large volumes of unusable and unstructured data/text in various industries. This will deliver meaningful outcomes that can enhance decision-making and thus improve operational efficiency. Focusing on this aspect, this chapter explains the concept of NLP, its history and development, while also reviewing its application in various industrial sectors.