Report cover image

IDC Perspective: The Business Value of Natural Language Processing Applications in Enterprises

Publisher IDC
Published May 19, 2022
Length 12 Pages
SKU # IDC17182095

Description

IDC Perspective: The Business Value of Natural Language Processing Applications in Enterprises

This IDC Perspective covers the business value of natural language processing (NLP) applications in enterprises. It reviews the current state of NLP, the synergies between NLP and text analytics, the way NLP is currently used by enterprises, and sample customer success scenarios. It also includes an analysis of large language models, its associated challenges, and what the future holds. It provides guidance to the technology buyer on how to embrace NLP and maximize ROI."NLP is rapidly becoming as integral to an enterprise as communication itself. Although NLP has made big strides over the last few years, context, relevance, and time to market for NLP solutions continue to be challenging," says Ritu Jyoti, group VP, artificial intelligence (AI) and automation research at IDC. "Enterprises need foundational language models that capture business context, bias detection, and mitigation to detect and fix bias from models created elsewhere," she adds.

Please Note: Extended description available upon request.

Table of Contents

12 Pages
Executive Snapshot
Situation Overview
NLP and Text Analytics Synergies
Common NLP Applications in Enterprises
Out-Of-The-Box or Custom Models
Out-Of-The-Box NLP Models
Custom NLP Models
Customer Success Scenarios
Unlocking Value from Clinical Documents and Research Materials
NLP for Customer Care: Virtual Assistants
NLP in Print and Media
NLP for Supply Chain Resilience
NLP in Life Insurance
NLP in Knowledge Extraction and Intelligent Document Processing
NLP: Large Language Models in the Financial Industry
NLP Business Solutions: Embedded AI
Large Language Models: Today and the Future
Advice for the Technology Buyer
Learn More
Related Research
Synopsis

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us