Computerized Applications of Natural Language Processing in Digital Economy: A Review

Abstract

Advancements in digital and Artificial Intelligence technologies have paved a new way for the study of natural language based applications using techniques such as natural language processing, predictive analytics, machine learning etc. For example, in business applications one can predict the behavior of a customer, product performance, product sales, predictions in compliance and regulatory aspects given the past business trends and sentiment analysis using natural language processing. This paper is a comprehensive study of the various applications of Natural Language Processing in Digitization. Along with key Digital forces-Mobility, Social Media, Cloud Computing, Analytics, Natural Language Processing & Artificial Intelligence applications are adding tremendous value to business users. Some of the examples are-Legal systems, robotic process automation, customer sentiment analytics, machine learning, robo-advisory apps etc. They not only improve adaption to automation, but also help significantly improve employee productivity and customer experience. This research paper outlines few such examples.