First, let us remind those, who still don’t properly know, what NLP is. In a few words, Natural Language Processing is basically giving machines the ability to do things that previously only humans could. It can read a text, it can edit text, process text, and produce written language. So it is processing human language that in the past computer simply couldn’t do. There are now lots of different tools from Narrative Science Quill to Amazon Polly, from Automated Insights Wordsmith tool to Google Text-to-Speech. Generally, these tools are now used to do amazing things that previously machines couldn’t do.
Let’s take a look at the case in point, Google Translate, we can simply write any sentence in most languages and Google will recognize what this sentence means and it will translate this into the language you want. This is now being used extensively in journalism. For instance, Bloomberg has the Cyborg tool that is now automatically writing earnings reports on companies. So if they release their numbers, the tool will automatically look at those numbers and generate a report that is really engaging that we can’t differentiate from a report written by a financial journalist. The Washington Post has developed their own tool called Heliograf that again can now uncover trends, – it can look at data that is available on the Internet and start writing articles independently and autonomously. Companies like the German Commerzbank is now using this and they can actually use natural language processing to automate about 70 percent of the work of a human credit analyst. So a lot of this can now be done by machines, they can collect information and analyze it.
We now have a tool called SummarizeBot. Let’s say you want to keep an eye on technology trends you put in artificial intelligence, this tool will go off and every day read all the articles around the world and summarize them for you. We now have a tool of the Chinese e-commerce giant Alibaba which sells more than Amazon and eBay combined. They now have a tool that will automatically write product descriptions. So if you want to have a new product on their e-commerce platform it will write the ideal product description for you automatically. If you just think about some of the tools that you can use in your day-to-day work, look at the Grammarly tool that uses Natural Language Processing to check the grammar on all your articles, posts, and the like.