This report explores the progression of Natural Language Processing (NLP) and its impact on various industry domains. NLP, a branch of AI, focuses on facilitating the understanding, interpretation, and generation of human language by machines. By utilizing the power of NLP, industries have witnessed significant transformations in their processing, analysis, and extraction of insights from textual/speech data. This report explores the historical evolution of NLP, breakthroughs that have driven its advancement, diverse applications of NLP across industries, and the future outlook for this blooming technology.

I. Introduction to Natural Language Processing

Natural Language Processing (NLP) refers to a branch of AI that revolves around the interaction between computers and human language. It encompasses a wide range of techniques, algorithms, and models designed to enable machines to understand, interpret, and generate natural language similar to human communication. By bridging the gap between human language and machine language, NLP has opened numerous opportunities for automating language-related tasks and extracting valuable insights from textual and speech data.

The history of NLP dates back to the 1950s when researchers first ventured into using computers for processing and understanding human language. Over the years, NLP has evolved and matured, driven by advancements in computational power, data availability, and algorithmic innovations. Today, NLP finds applications in various industries, ranging from healthcare and finance to customer service and marketing, revolutionizing the way organizations interact with and analyze natural language data.

II. Evolution of Natural Language Processing Over the Years

The 1990s and 2000s witnessed the rise of statistical NLP and the increasing adoption of machine learning. Researchers began applying machine learning techniques to analyze vast amounts of textual data, allowing computers to extract patterns and make predictions based on statistical models. This era saw the development of algorithms like Hidden Markov Models (HMMs) [1]💡 and probabilistic context-free grammars [2], empowering machines to perform tasks such as part-of-speech tagging, named entity recognition, and machine translation.

The 2010s marked a significant shift in NLP with the emergence of deep learning approaches. Deep learning, a subfield of machine learning, focuses on training artificial neural networks with multiple layers to learn hierarchical representations of data. This era witnessed the rise of influential techniques such as Word2Vec [3], which represented words as continuous vectors, capturing semantic relationships between them. Long Short-Term Memory (LSTM) [4] networks also gained popularity, enabling models to capture contextual dependencies in sequential data and leading to significant advancements in tasks like sentiment analysis, text classification, and machine translation.

From the mid-2010s to the early 2020s, NLP experienced a transformative breakthrough with the introduction of transformer models [5]. Transformers (a type of deep learning architecture) revolutionized the field by utilizing self-attention mechanisms to efficiently capture contextual dependencies across long sequences of text. This breakthrough led to the development of groundbreaking models such as BERT (Bidirectional Encoder Representations from Transformers) [6], GPT (Generative Pre-trained Transformer) [7], GPT-2 [8], GPT-3 [9], and GPT-4 [10], pushing the boundaries of language understanding and generation. These models achieved remarkable performance in various NLP tasks, including language translation, question-answering, and text generation.

III. Breakthroughs and Advances in Natural Language Processing

Natural Language Processing (NLP) has witnessed remarkable breakthroughs and advances that have driven the field forward. This section summarizes these major breakthroughs, their impact on NLP, and their integration with other AI technologies.

Major NLP Breakthroughs

1. Sequence-to-Sequence Models: Sequence-to-sequence models, also known as encoder-decoder models, have played a crucial role in tasks like machine translation and summarization. These models, powered by recurrent neural networks (RNNs) or transformer architectures, enable the transformation of input sequences into output sequences, facilitating the generation of logical and meaningful responses.
2. Attention Mechanisms and Transformer Models: Attention mechanisms have revolutionized NLP by allowing models to focus on relevant parts of the input sequence during processing. The introduction of transformer models, which heavily rely on attention mechanisms, has significantly enhanced the efficiency and effectiveness of handling long-range dependencies in language data.
3. Pre-training Methods: Pre-training methods, such as BERT (Bidirectional Encoder Representations from Transformers), have brought about a paradigm shift in NLP. These methods involve training models on vast amounts of data to learn general language representations. Such pre-trained models can then be fine-tuned for specific tasks, leading to improved performance and reducing the need for extensive amounts of task-specific labeled data.
   

The Impact of Breakthroughs on Advancing NLP
The aforementioned breakthroughs have advanced the field of NLP in multiple ways:

1. Improved Language Understanding: The use of transformer-based models and pre-training methods has significantly enhanced the understanding of language in NLP models. These models can now capture contextual nuances, semantic relationships, and even subtle sentiment analysis, enabling more accurate and meaningful language processing.
2. Enhanced Language Generation: Transformer models, like GPT (Generative Pre-trained Transformer), have substantially improved language generation capabilities. These models excel in generating meaningful and contextually appropriate text, making them invaluable for applications such as chatbots, content generation, and virtual assistants.
3. Access to powerful commercial APIs: Commercially available NLP APIs, such as Claude, Cohere, OpenAI, Google Cloud, and Azure Cognitive Services, offer developers and businesses a convenient way to harness advanced NLP techniques and algorithms. These APIs eliminate the need for extensive model training and infrastructure setup, allowing for rapid integration of powerful language processing capabilities.
   

Integration with Other AI Technologies

NLP has seamlessly integrated with other AI technologies, notably reinforcement learning, to achieve more advanced capabilities. Reinforcement learning techniques allow models to learn from interactions with an environment, which proves valuable for dialogue systems and conversational agents. By combining NLP with reinforcement learning, chatbots, and virtual assistants can refine their conversational abilities, adapt to user preferences, and provide more personalized experiences.

IV. Different Aspects of NLP and Their Applications in Various Industries

NLP is comprised of a diverse range of aspects and techniques that have transformative applications across various industries. This section summarizes some of these aspects and how they are currently used in different industry domains.

1. Chatbots and Virtual Assistants: NLP powers chatbots and virtual assistants, enabling them to interact with users in natural language. These AI-powered conversational agents find applications in industries such as customer support, e-commerce, healthcare, banking, and more. Chatbots assist customers with product recommendations, order tracking, and FAQs, while virtual assistants like Amazon's Alexa and Apple's Siri provide voice-controlled assistance in tasks ranging from home automation to information retrieval.
2. Sentiment Analysis: Sentiment analysis uses NLP to determine the sentiment expressed in text. It finds applications in industries such as social media monitoring, brand reputation management, market research, and customer feedback analysis. Companies leverage sentiment analysis to gauge public sentiment toward their products or services by analyzing customer reviews, social media posts, and online discussions.
3. Text Classification and Categorization: NLP techniques enable text classification and categorization, crucial for organizing large volumes of textual data. Industries like news media, content moderation, document management, and more rely on these techniques. News organizations use NLP algorithms to automatically categorize news articles into topics such as sports, politics, technology, and entertainment, facilitating efficient content organization and retrieval.
4. Text Summarization: Text summarization techniques use NLP to generate concise summaries from longer texts. Industries such as news media, research, and content aggregation benefit from text summarization. News aggregators can automatically summarize news articles to provide users with brief, informative snippets, while researchers can quickly extract key information from scientific papers.
5. Named Entity Recognition (NER): NER involves identifying and classifying named entities within text, such as names of people, organizations, locations, and dates. Industries like finance, legal, healthcare, and more utilize NER for tasks such as extracting relevant information from legal documents, identifying medical entities in electronic health records, and analyzing financial news for investment insights.
6. Language Translation: Language translation, an integral aspect of NLP, finds applications in industries like travel, e-commerce, international communication, and more. Online platforms and e-commerce websites employ translation services to make their content accessible to users from different countries. Language translation is also vital for communication tools, language learning applications, and global collaboration.
7. Recommendation Systems: NLP plays a crucial role in recommendation systems used in e-commerce, entertainment, and content platforms. These systems analyze user preferences using NLP techniques and provide personalized recommendations. Streaming platforms use NLP to analyze user reviews and viewing patterns to suggest relevant movies or shows, while e-commerce platforms recommend products based on user browsing and purchasing history.
8. Speech Recognition: NLP techniques are employed in speech recognition systems, converting spoken language into text. Industries such as call centers, transcription services, voice assistants, and more rely on speech recognition. Call centers can transcribe customer interactions for analysis and training, transcription services can convert audio files into written documents, and voice assistants can understand spoken commands for hands-free control.
9. Text Generation and Language Modeling: Generative AI techniques like language modeling and text generation have transformative applications in industries such as content creation, marketing, and creative writing. These techniques enable automated content generation, personalized marketing messages, and creative storytelling, enhancing productivity and creativity in various sectors.

V. Future Outlook of NLP in Industry Domains

The future of NLP holds promising advancements driven by ongoing research and technological innovations. The predictions for the future development of NLP can be summarized as follows.

• Enhanced Understanding and Context: NLP models will improve their understanding of context, nuances, and subtle meanings in language, leading to more accurate and context-aware results.
• Multilingual Capabilities: NLP models will expand their multilingual capabilities, enabling effective processing and understanding of diverse languages, dialects, and regional variations.
• Domain-Specific Adaptation: NLP models will become more specialized in different industry domains, allowing for better customization and fine-tuning to specific contexts and requirements.
• Explainability and Transparency: Efforts will be made to enhance the explainability and transparency of NLP models, enabling better understanding and trust in their decision-making processes.
• Continuous Learning: NLP models will embrace lifelong learning techniques, continuously improving their performance through exposure to new data and real-world interactions.

While the future of NLP is promising, several challenges must be addressed in order to make the best out of it. Researchers in the scientific community are actively trying to address these challenges by introducing new and improved algorithms, enhancing ethical considerations, and improving data quality and diversity. Some of these challenges are listed below.

• Ethical Considerations: Ensuring ethical use of NLP and addressing concerns related to bias, privacy, and data security will be critical for responsible adoption.
• Data Limitations: NLP models heavily rely on vast amounts of labeled data for training. Overcoming data limitations and developing techniques to leverage limited data will be crucial for wider adoption. Methods to tackle this limitation will be crucial for developing multilingual AI systems targeted towards low-resourced languages.
• Multimodal Integration: Integrating NLP with other modalities such as images, videos, and sensor data will present new possibilities for understanding and interpreting complex information.
• Real-Time Processing: Advancements in NLP will focus on achieving real-time processing capabilities, allowing for instant and interactive interactions with users.
• User Experience Enhancement: NLP will play a key role in improving user experiences by enabling more natural and intuitive interactions with technology.

NLP is expected to expand into new domains and applications in areas that have not yet fully explored its potential. Some of these potential areas include but are not limited to:

• Healthcare: NLP can assist in medical record analysis, clinical decision support systems, patient monitoring, and personalized healthcare.
• Legal and Compliance: NLP can aid in legal document analysis, contract management, compliance monitoring, and legal research.
• Education: NLP can enhance educational tools, automate grading and feedback, support personalized learning, and assist in language learning applications.
• Cybersecurity: NLP can contribute to threat detection, fraud prevention, and analysis of security-related textual data to identify potential risks.
• Environmental Sciences: NLP can assist in analyzing environmental data, climate change research, and natural language interfaces for environmental monitoring systems.
• Social Sciences: NLP can facilitate sentiment analysis, opinion mining, and social media analytics for understanding societal trends and public sentiment.

VI. Conclusion

The progression of Natural Language Processing (NLP) has had a significant impact on various industry domains. This report explores NLP, its history and evolution, as well as its applications in different industries. We have discussed the progression of NLP over the years, from statistical NLP and machine learning approaches to deep learning techniques and transformer models. The report also presents major breakthroughs in NLP and explores different aspects of NLP and its applications in industries.

In conclusion, NLP has transformed the way we interact with language and extract insights from textual data. Its advancements have opened doors to enhanced communication, improved decision-making, and increased efficiency across industries. As we continue to explore the possibilities and overcome challenges, the future of NLP looks promising, with the potential to shape the way we interact with technology and leverage the power of natural language.

Overall, the progression of NLP and its impact on different industry domains is a testament to the remarkable capabilities of this field. By harnessing the power of language, NLP continues to drive innovation, improve user experiences, and revolutionize various sectors, paving the way for a more intelligent and language-enabled future.

References

[1] Baum, L. E., & Petrie, T. (1966). Statistical Inference for Probabilistic Functions of Finite State Markov Chains. The Annals of Mathematical Statistics, 37(6), 1554–1563. http://www.jstor.org/stable/2238772

[2] Chomsky, Noam & Miller, George A. (1968). Introduction to the Formal Analysis of Natural Languages. Journal of Symbolic Logic 33 (2):299-300.

[3] Mikolov, T., Chen, K., Corrado, G., & Dean, J. (2013). Efficient estimation of word representations in vector space. arXiv preprint arXiv:1301.3781.

[4] Sepp Hochreiter and Jürgen Schmidhuber. 1997. Long Short-Term Memory. Neural Comput. 9, 8 (November 15, 1997), 1735–1780. https://doi.org/10.1162/neco.1997.9.8.1735

[5] Vaswani, A., Shazeer, N., Parmar, N., Uszkoreit, J., Jones, L., Gomez, A. N., ... & Polosukhin, I. (2017). Attention is all you need. Advances in neural information processing systems, 30.

[6] Devlin, J., Chang, M. W., Lee, K., & Toutanova, K. (2018). Bert: Pre-training of deep bidirectional transformers for language understanding. arXiv preprint arXiv:1810.04805.

[7] Radford, A., Narasimhan, K., Salimans, T., & Sutskever, I. (2018). Improving language understanding by generative pre-training.

[8] Radford, A., Wu, J., Child, R., Luan, D., Amodei, D., & Sutskever, I. (2019). Language models are unsupervised multitask learners. OpenAI blog, 1(8), 9.

[9] Brown, T., Mann, B., Ryder, N., Subbiah, M., Kaplan, J. D., Dhariwal, P., ... & Amodei, D. (2020). Language models are few-shot learners. Advances in neural information processing systems, 33, 1877-1901.

[10] https://cdn.openai.com/papers/gpt-4.pdf

AIESEC GLOBAL FINANCE BOARD - Product Engineering Case Study

Platform to manage the organization's financial data in a centralized location.

Project Overview

AIESEC is a global youth-led organization that seeks to develop leadership skills in young people while providing them with the opportunity to positively impact their communities. AIESEC operates in over 120 countries and territories and manages many financial data across its global network. To help address this data, AIESEC developed the Global Finance Board, a financial management tool that streamlines financial reporting and enables better decision-making.

Project Objectives

The main objectives of the Global Finance Board are to:

Target Audience

The Global Finance Board is primarily used by two types of users: GFB Admin and Organization Unit Users. GFB Admin is responsible for managing the platform and ensuring that financial data is accurate and up-to-date. Organization Unit Users are responsible for inputting financial data into the platform and generating financial reports for their respective units.

Challenges

The implementation of the Global Finance Board faced several challenges. Firstly, the AIESEC team used Google Sheets to conduct the auditing activity and it was very hard since most of the time they can’t add custom logic to generate results from the data submission. There was resistance from some Organization Unit Users who were accustomed to using their own methods for managing financial data. Secondly, there were technical challenges in integrating the platform with existing financial systems, which required significant customization and testing.

Product Engineering Process

The product engineering process involves understanding the problem, analyzing it, generating ideas, prototyping, testing, implementing, and evaluating the success of the solution. Engineerings and designers cycle back and forth between these stages as they refine their ideas and gather feedback to create a solution that meets the needs of users or stakeholders and solves the original problem.

Glimpse of Process

User Stories

After listing several user stories for the project, we have selected specific stories to build happy paths for the case study.

User Flow

We selected the "Submission Task Creation by GFB Admin" user story to explain a user flow.

Wireframing of User Flow

Before starting the design & development, we created wireframes to lay out the basic structure and functionality. By creating wireframes first, we can quickly iterate and refine our ideas, ensuring that we have a solid foundation for the final design.

Walk through the Flow

Create Submission Task

A Global Finance Board Administrator can create a submission task by accessing the Submission task tab. At the top right corner of the table, they can find the 'Create' button.

Previous Tasks

A Global Finance Board Administrator can select a previously created task here and go to the next step or skip to create a completely new submission task.

Select Entities

A Global Finance Board Administrator can select entities from various regions and move to the next step.

Other Details

A Global Finance Board Administrator should add other details to create the submission task. These details include,

Data Type Selection

First, select which data type that needs to form the submission task. Each data type holds different accounts.

Data Schema Selection

A Global Finance Board Administrator needs to manually enter the Data Schema for the submission task.

Setting Submission Task Deadline

A Global Finance Board Administrator needs to select the deadline for the submission task.

Timestamp Creation

Select which year & month to create the submission task.

Tagging and Notes

Global Finance Board Administrator can add additional notes for the submission task. GFB Admin can create the submission task after filling in all necessary details.

Realtime Task Creation Progress View

Toaster messages appear upon each submission task creation completion.

Toaster Message

A toaster message appears upon all submission task completion.

View Multiple Tags

Added tags will appear in the submission task row. More tags can be seen while hovering the mouse pointer.

Experience the Flow

You can experience our craft below.

Conclusion

The AIESEC Global Finance Board is a powerful tool that has helped to transform AIESEC's financial management processes. Through a combination of training, customization, and technical expertise, AIESEC was able to successfully implement the platform and overcome the challenges it faced. As a result, AIESEC is better positioned to manage its finances and make informed decisions that will support its mission to develop young leaders around the world.

Organizational Unit User

GFB Administrator User

Scalability and Performance

Awaiting to boost your project?

Have a coffee with us, will take care of it. (of course Coffee on us)

'Are You Ready?' is the official career fair of University of Moratuwa organized in collaboration with the Rotaract Club of University of Moratuwa and the Career Guidance Unit of the University.

Since its proud history flowing from 1998, 'Are You Ready?' continued its fashion in opening opportunities for the undergraduates for the consecutive 25th milestone in a fully virtualized manner due to the ongoing covid-19 pandemic. To make this virtual endeavour a reality, the Rotaract Club of University of Moratuwa partnered with The A.I. Team (Private) limited to build an innovative software solution.

The implementation of ‘Are You Ready? 2020’ was in high doubt during the second wave of Covid-19, where almost all the on-ground large-scale ventures had to be put on hold. Nevertheless, the dedicated organizers and The A.I. Team (Private) limited undertook the utmost challenge to reinvent the project in a digital space to accommodate dreams of 1000+ undergraduates. These efforts hailed throughout the project will undoubtedly have a long-lasting impact especially in a situation where HR & Recruitment space is disrupted due to the massive scale negative impact of the pandemic.

The Flagship Fair was held on the 16th, 17th, and 18th of December 2020. The flagship fair is the limelight of 'Are You Ready?' where the companies visit the university to conduct real/mock interviews for the final year undergraduates. Although the event could not take place physically on a larger scale due to the unforeseen pandemic, a brand new virtual platform to handle the interview procedure was introduced. This single-day event was spanned to a three-day momentous happening by dividing each day into two sessions where a total of six interview sessions were conducted throughout the three days.

The event marked its success where HR personals and recruiters from 70+ corporate giants all around Sri Lanka joined hands to conduct both real and mock interviews for over 1000 final year undergraduates on the lookout for various career opportunities. Compared to the last years, this was a gradual improvement where it recorded the highest number of companies participating in ‘Are You Ready?’  amid the prevailing situation of the country.

Undergraduates got the opportunity to face as many interviews as possible through the virtual assigned-interviews and walk-in-interview procedure built in the platform while ensuring the same experience in a physical career fair (Figure 1). All in all, the three-day event marked a triumphant completion with the representation of 177 interview panels wizarding through the virtual setting fueling the dreams and connecting the elites. The ceremony illuminated the hard efforts posed by the dedicated team throughout the execution of one of the largest career fairs in the history of Sri Lanka successfully.

(Representation of interview matchings between undergraduates and companies) View online: https://graph.0xait.com

Learn more about the platform :

Virtual Career Fair Platform - Profile.pdf

Google Docs

• https://blog.rotaractmora.org/technology-partner-ai-team/
• https://blog.rotaractmora.org/animpossiblecareerfair/