of companies reporting a positive business impact of digital transformation also reported higher net revenue growth.
increase in customer satisfaction can be achieved through digital transformation with a focus on customers.
of companies expect that digital transformation will disrupt their industry, but only 44% are prepared for digital disruption.
Conversational AI combines natural language processing (NLP) with machine learning. These NLP processes flow into a constant feedback loop with machine learning processes to continuously improve the AI algorithms. Conversational AI has principle components that allow it to process, understand, and generate a response in a natural way.
Machine Learning (ML) is a sub-field of artificial intelligence, made up of a set of algorithms, features, and data sets that continuously improve themselves with experience. As the input grows, the AI platform machine gets better at recognizing patterns and uses it to make predictions.
Natural Language Processing is the current method of analyzing language with the help of machine learning used in conversational AI. Before machine learning, the evolution of language processing methodologies went from linguistics to computational linguistics to statistical natural language processing. In the future, deep learning will advance the natural language processing capabilities of conversational AI even further.
NLP consists of four steps:
Unstructured data transformed into a format that can be read by a computer, which is then analyzed to generate an appropriate response. Underlying ML algorithms improve response quality over time as it learns.
These four NLP steps can be broken down further below:
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