Top 8 NLP Startups to Watch in 2020
Voca is honored to be among the top 8 most innovative startups to Watch in 2020 by MarketWatch!
As the article states:
One of the most promising areas of technological development is Natural Language Processing (NLP), along with one of its components, Natural Language Understanding (NLU). Together, these fields make it possible for computer programs to better “understand” human language, and in some cases, to use it in context. The potential applications are limitless.
How Does NLP Work?
Natural Language Processing (NLP) is a field that blends linguistics, computer science, information engineering, and artificial intelligence (AI) to better understand and utilize the power of human speech. These insights can be applied in multiple different ways; for example, speech recognition allows a program to pick up on what a person is saying, translating their verbal speech into written text. Natural Language Understanding allows a program to better “understand” what a customer needs, or what their disposition is, giving them the capability of inferring context and subtext. There’s also Natural Language Generation, which allows a program to produce natural text in a way that can engage with another person.
There are multiple different approaches here, but most of them rely on taking vast amounts of data and using those data to form conclusions, which are then applied in various contexts. Some NLP products are geared toward solving a specific problem, like helping sales teams close more deals, while others are intentionally general, capable of being used in a variety of contexts.
Voca uses end-to-end speech neural models to automate an incredible diversity of conversions, in fields such as debt collection, customer support, and finance. With virtual agents, Voca can simulate human beings so naturally that many customers can’t tell the difference between these virtual agents and live ones.
If you’re interested in learning more about NLP, stay tuned for updates. NLP will remain an exciting and sought-after field for many years to come.
The Perfect Fit for your Contact Center
- Respond quickly and efficiently to customer inquiries, creating excellent first impressions
- Voca Agents handle the vast majority of first line inquiries
- Natural Voice Response (NVR) that understands your customers intent
- Insure customer gets through 24 hours a day, 7 days a week
- Human agents have more time to work on high-intent calls
- Satisfied customer experience with Virtual Agents that are always prompt and always on script
- Voca documents everything so that your agents don’t have to
- Monitor conversations as they unfold, so you can make decisions and take action in real time