I’ve been spending the first three weeks of my internship immersed in company data while helping to develop a Natural Language Processing (NLP) model for the VentureRadar database. One of the interesting byproducts of working with this dataset is getting to see lots of emerging innovative companies. So I decided to pick out the five highest ranked companies from the VentureRadar database that are employing NLP and take a closer look at them.
(1) NLP in Voice Recognition: Expect Labs was established to build tools that enable companies to create intelligent voice-driven interfaces for any app or device. The company is employing state-of-the-art NLP technologies to understand human language and answer questions. Instead of attempting to understand concepts based on general human language usage patterns, the company’s platform relies on a custom knowledge graph that is created for each application and does a much better job recognizing concepts that are relevant in the users domain.
(2) NLP in Text Prediction: SwiftKey is an innovative startup that creates text prediction technology designed to significantly boost the accuracy, fluency and speed of text entry on mobile and computing devices. NLP techniques are employed in SwiftKey to allow it to learn from users’ writing style and predict favorite words, phrases and emojis.
(3) NLP in Social Media Analysis: NetBase is an innovative company that uses the data from the social web to apply social media sentiment analysis using NLP technologies. The NLP engine in the NetBase enterprise social media analytics platform reads and understands millions of social media postings every day, looking at sentiment and understanding the topic rather than just keywords.
(4) NLP in Predicting Government Legislation: FiscalNote is a technology company that offers products for analyzing political, legal, and regulatory information using NLP and machine learning. FiscalNote’s real-time legal analytics platform is designed to revolutionize the way policy and legal professionals work by connecting policy and legal professionals with the information they need to get vital alerts on market-moving issues, rapidly analyze relevant laws and react effectively to political risk. The company’s first product, Prophecy, tracks, monitors and forecasts the outcome of state and federal legislation. The company says it can forecast policy outcomes with over 94% accuracy.
(5) NLP in eCommerce Analysis: Klevu is a Finnish technology startup that offers a smart search function for small and medium size web stores and shops. Its technology is based on innovative use of NLP technology, designed to help merchants improve the shopping experience on their site, and increase conversions and revenue.
These five companies demonstrate the emerging revolution in user experience that is coming from integrating NLP into products and services. The VentureRadar database scores lots more interesting companies that are using Natural Language Processing (NLP).