The origins of Natural Language Processing can be traced back to the 1950s when computer scientists began experimenting with machine translation. However, early attempts at NLP were limited by the lack of computational power and the difficulty of parsing human language. It wasn't until the 1980s that NLP began to gain traction, thanks to the development of statistical language models and the availability of large amounts of text data.
According To Coherent Market Insights, The Global Natural Language Processing (NLP) Market Was Valued At US$ 11,500.0 Mn In 2020 And Is Expected To Reach US$ 49,023.2 Mn By 2028 At A CAGR Of 20.4% Between 2021 And 2028.
One of the earliest applications of Natural Language Processing was in the field of information retrieval, where computers were used to analyse and categorize large amounts of text data. This led to the development of search engines like Google, which revolutionized the way we find information.
NLP also played a role in the development of speech recognition technology, which enabled computers to transcribe spoken language. This technology was initially used in call centers and automated phone systems, but has since become ubiquitous in virtual assistants like Siri and Alexa.
The rise of NLP has revolutionized communication in numerous ways, from language translation and sentiment analysis to chatbots and virtual assistants. Advances in deep learning have enabled computers to analyze and generate human language with unprecedented accuracy and complexity, paving the way for new applications in fields like education and healthcare.
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