What is NLP? The Role of NLP in Artificial Intelligence and its Future Trends
If you’ve ever used Google Translate, you’ve experienced natural language processing (NLP) in its real action. NLP is the scientific study of how to create formal models of human language and develop algorithms that can use these models. The goal of NLP applications, like chat systems, machine translation, and information extraction, is to make sense of unstructured text and allow for organized searches within it. The NLP market is expected to reach $68.1 billion by 2028, with a compound annual growth rate (CAGR) of 29.3%. (Source: Markets and Markets ) The NLP market size is expected to show an annual growth rate of 27.55%, resulting in a market volume of US$156.80bn by 2030. If you’re interested in working with NLP, it’s important to have a solid understanding of probability, algorithms, and multivariate calculus. NLP is all about studying mathematical models that help computers understand how humans learn and use language. This blog will give an overview of NLP development services ...