Natural language is a branch of AI (Artificial Intelligence) that is programmed to make machine human language, words written and spoken. The use of Natural Language has increased as many organizations are adopting it. It helps in reducing customer effort and improve organization’s analytical capabilities. Virtual assistants helps customer to communicate with organization with the use of online chat box in vernacular language and improve customer experience.
In 2020 the global Natural Language Processing (NLP) Market was valued at US$ 11,500.0 Million and is expected to reach US$ 49,032.2 Million by 2028 at a CAGR of 20.4% during the years 2021 and 2028.
Key Manufacturers in the Natural Language Processing Industry:
1) Microsoft Corporation
Microsoft Corporation is a multinational technology corporation based in America. Some of the best known products by the company are Internet Explorer, Microsoft Office Suite, and Operating Systems. In terms of revenue Microsoft ranked 21 in the Fortune 500 in 2020. The company was founded in April 4 by Bill Gates and Paul Allen and the headquarters are located in One Microsoft Way Redmond, Washington, U.S.
In January 2022, Microsoft announced, it had acquired Activision Blizzard, an American video game developer company for US$ 68.7. In January 2023, Microsoft made a multi-billion dollar investment deal with OpenAI, ChatGPT developer.
2) Apple Inc.
Apple Inc. is a multinational technology company and the largest technology company by revenue, and as of June 2022, the world’s largest company by market capitalization. Apple is part of the Big Five American IT companies. The company was founded in 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne. The headquarters are located in 1 Apple Park Way, Cupertino, California, U.S.
In 2022, Apple acquired Credit Kudos, an open banking startup that provides credit assessments, for U.S$ 150 Million. In June 2022, Apple added Lockdown Mode to macOS 13 and Ios 16 that increases security protections.
3) Google LLC.
Google LLC. Is a multinational technology company that focuses on online advertising, computer software, artificial intelligence, and consumer electronics. Google has been referred to ‘The most powerful company in the world’. The company was founded in the year 1998. Some of the most well-known products are, Workspace, Android, YouTube, and Pixel. It was founded by Larry Page, Sergey Brin and the headquarters are located in Amphitheatre parkway, Mountain View, California, U.S.
In 2022, Google announced the acquisition of Raxium, a startup that develops and manufactures MicroLED display technology. In October 2022, the company also acquired Alter a digital avatar company for U.S.$ 100 Million.
4) IBM corporation
IBM Corporation (International Business Machines Corporation) is a multinational technology corporation that specializes in computer hardware, consulting services, nanotechnology etc. The company was founded in the year 1911 and the headquarters are located in Armonk, New York, U.S. the company was founded by Herman Hollerith, Charles Ranlett Flint, and Thomas J. Watson, Sr.
5) SAS Institute
SAS Institute is a multinational developer of analytics software. It is the world’s largest privately held software company. Products manufactured include SAS (software) SAS language. The company was founded in the year 1976 by Anthony James Barr, James Goodnight, John Sall and Jane Helwig. The headquarters are located in Cary, North Carolina, U.S.
In 2023 SAS won the social impact award for the Battling Lab. In 2022 SAS completed the acquisition of Kamakura Corporation, a global financial company.
6) Inovalon
Inovalon is a technology company based in America that provides cloud-based tools for the healthcare sector. The company was founded in the year 1998 and the headquarters are located in Bowie, Maryland, U.S. Inovalon was founded by Keith Dunleavy, M.D.
In 2020, the company announced an engagement with Specialty Pharmacy business at Walmart to provide cloud-based capabilities to support improved outcomes for its customers.
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