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The race to create life-like AI bots has begun!

17/02/2023

What is Natural Language Processing (NLP)? (Source: Forbes)

  • A subset of artificial intelligence (AI) that uses linguistics, machine learning, deep learning and coding to make human language comprehensible for machines.
  • NLP chatbots such as ChatGPT use NLP techniques to make conversations human-like.

In the wake of Microsoft-backed ChatGPT’s success, Google & Baidu just announced the upcoming release of their own AI chatbots. According to Fortune Business Insights, the global market size for Natural language Processing (NLP) could reach $161.81 billion by 2029 (from $26.42 billion in 2022).

 

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