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Enterprise NLP budgets are up 10% in 2021
Sep 21, 2021 | Venture Beat
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Enterprises are increasing their investments in natural language processing (NLP), the subfield of linguistics, computer science, and AI concerned with how algorithms analyze large amounts of language data. According to a new survey from John Snow Labs and Gradient Flow, 60% of tech leaders indicated that their NLP budgets grew by at least 10% compared to 2020, while a third — 33% — said that their spending climbed by more than 30%.

The goal of NLP is to develop models capable of “understanding” the contents of documents to extract information as well as categorize the documents themselves. Over the past decades, NLP has become a key tool in industries like health care and financial services, where it’s used to process patents, derive insights from scientific papers, recommend news articles, and more.

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