Language is one of the great untapped resources of information. Today’s NLP field covers the full cycle of recognizing and understanding speech, processing natural language and generating text including automatic coding. NLP is everywhere – when you dictate a text message to Siri, ask Alexa for the weather, search on Google, use email services that filter out spam, check out spelling and grammar, and even autocomplete an entire message.
Adoption in financial services is wide and high impact with applications such as – sentiment analysis, tracking relationships, legal and compliance, speech recognition and advanced chatbots, information retrieval, and ESG. We discussed the current state of NLP and implications for financial services.