Applied AI & AI in business /

What is NLP and how can I make use of it in my business? Part 2

October 15 2020/10 min read
  • Reynaldo Boulogne
    Reynaldo Boulogne

In this article, we've put together some sample applications of Natural Language Processing that you can draw inspiration from to find applications in your own business that can impact your bottom line. This is part 2/2 of the What is NLP and how can I make use of it in my business? series. For part 1 click here.

In the previous article of this series, we learned that modern Natural Language Processing models have gotten exceedingly good at correctly understanding sequences of words in different contexts and how this ability made it possible for them to find useful information in text data.

But where is this relevant in my work / business? Why should I care?

The simple answer is because it opens up a whole new world of automation opportunities for your business. Read below to find out more.

Text classification

NLP models can be trained to automatically assign a set of predefined categories to any kind of text, whether that’s entire documents, parts of documents, messages, summaries, etc.

Here are some examples of how automatic text classification can be used on your (customers’) inbound communications.

Tag customers requests by issue type

Sort customer requests by urgency

Assign customer requests to the responsible teams

Tag customer requests with product / service

Standardize and automatically assign a topic to your content

Sentiment analysis

Sentiment analysis can be thought of as a subtask of text classification. It focuses on identifying the subjective information in text and classifying each as positive, negative, neutral, or any other categories that might be more relevant to you (e.g. excited, surprised, happy, neutral, sad, boring, angry, disappointed).

Here are some examples of how automatic sentiment analysis can be used on your (customers’) inbound communications.

Track your customers’ brand sentiment

Track your customers’ sentiments about your teams

Track your customers’ sentiments about your locations

Track your customers’ sentiments about your products

Text similarity

Text similarity is the task of automatically determining how ‘close’ two pieces of text are both in structure as in meaning.

Find news stories with similar headlines / content

Find similar paragraphs in different documents

Find similar sentences in your database

Find previously answered questions

Named entity recognition

Named entity recognition is the task of locating and classifying mentions of predefined entities in texts into predefined categories such as the person names, organizations, locations, etc.

Find entities in text

  • Reynaldo Boulogne

    Reynaldo Boulogne

    With over 15 years of experience, Reynaldo has worked within the intersection of business and technology across multiple sectors, most recently at Klarna and Spotify. He is passionate about innovation, leadership, and building things from scratch. Reynaldo is also a former Vice-chairman of the Stockholm based AI forum, Stockholm AI.

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