Natural language processing (NLP) is a subset of artificial intelligence (AI) that enables computers to understand human language, extract meaning, and improve communication through technologies like voice-enabled AI and conversational intelligence. The global natural language processing industry was valued at $11.1 billion in 2020 and is expected to reach $341.5 billion by 2030, growing at a CAGR of 40.9% from 2021 to 2030. The surge in automation due to the integration of NLP with deep learning (DL) and machine learning (ML) is driving the market growth. The COVID-19 pandemic has had a major impact on the implementation of NLP in customer service, resulting in higher productivity, lower cost, and better client experiences, as well as in the healthcare sector.
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