We’re pretty sure that by now, you’ve seen the news: BeCode is launching new corporate training paths in AI and Cloud Security. But have you considered enrolling your IT staff into our AI fundamentals training? ? If not, we are positive that you’ll have changed your mind by the end of this article. You don’t believe us? Let’s see!
You may already know that AI stands for Artificial Intelligence and that it’s all about computers thinking as humans do. But do you know what Natural Language Processing (NLP) translates into and how you can make use of it to make your business more competitive?
NLP is amongst the hottest topics in the data science field nowadays. Everyone is trying to get a grasp of what it is and how it can stimulate their business strategies. Although the concept may sound vague to you at first glance, you’ll be surprised to hear that this technology is at the heart of a lot of services that you use on a daily basis.
Have you noticed that when you type in the first two or three letters while searching on Google, search suggestions appear? Have you already used Google Translate to find out what a particular word or phrase means in another language? Have you bumped into the concept of chatbots? All of these services have one thing in common: NLP, a subfield of artificial intelligence that helps machines understand natural human language.
We could keep going with our list of NLP applications, but you probably get it by now. Artificial intelligence, and NLP more specifically, is one of the most powerful tools available nowadays and can help make your business smarter, but how?
1. Save time and money
Running a successful business is all about reducing costs and maximizing profit. Streamlining your existing operation by increasing the overall efficiency, might save you both money and time. NLP-trained applications such as chatbots, email filters, and machine translation software, will enable you to focus on what really matters: human interaction.
2. Report trends to make smarter business decisions
Data is the new gold, and this is no different here. NLP gives machines the ability to read, understand and derive meaning from human language. More specifically, machine learning technologies will use historical data, coming from, for example, social media posts, to identify future trends and foresee risks. These results in turn allow you to make smarter business decisions on both micro and macro level.
3. Boost your conversion rate
Marketeers’ prior objective is to convert site visitors into customers. The more the merrier of course and NLP-solutions happen to be masters in conversion optimization. Anything that you do on your website to make visitors dwell, will probably make them want to buy your products or use your services. Maybe time to give chatbots or features such as auto-complete text or more advanced search functionality a chance?
4. Offer immediate customer service
High-quality customer service is key to retaining your clientele. To achieve this, your business needs to provide your audience with a fast, personalized, and to-the-point response to inquiries, questions, and complaints. This implies a lot of repetitive tasks, but NLP can help you out! Think of powerful tools such as automated chatbots that answer your customers immediately or incoming message reply assistants who categorize the request and provide a premade answer that your team only needs to validate.
5. Increase employee satisfaction
NLP can even improve your employees’ well-being by dramatically increasing the number of meaningful tasks and reducing actions that do not rely on their personal skillset. Less copy-pasting, scanning documents, spell checking, etc. means more time for creative thinking, collaboration, and team interactions. And a happy employee is a productive one!