Unlocking Business Potential: How Amazon and Google Utilize Natural Language Processing Effectively

It’s a modern miracle—with natural language processing (NLP), machines can understand speech. As businesses of all types gain access to an enormous wealth of new tools, it’s hard to overstate how deeply and lastingly these technologies will impact the world.

With the strategic deployment of AI in healthcare, physicians can dictate patient notes into structured records. With AI in finance, new avenues for detecting fraud and projecting trends are being born. And we’ve all personally experienced how AI for customer service has been automating away enormous workloads.

But with a little creativity, AI-enabled NLP can do far more than that. That’s why Salvo Software specializes in identifying and implementing opportunities to integrate NLP capabilities alongside small business processes, allowing medium-sized businesses to harness the full power of speech comprehension AI. 

Our fully custom AI-enabled applications help businesses make more informed decisions, boost operational efficiency, or get more done with less.

AI-enabled NLP for Medium-Sized Businesses

Big companies like Microsoft, Google, and Amazon have taken advantage of AI-enabled NLP for years. They continue to invest enormously in tools like OpenAI and Amazon Comprehend because they know it’s a goldmine. They’re already seeing a tremendous return on their investment.

Medium-sized businesses have been adopting NLP technologies at a more moderate pace — but their opportunity for game-changing innovation is every bit as great.

Early adopters like Freshworks and Zendesk have deployed small armies of chatbots. Their results have been typical: they reduced response times by around 30%, streamlined repetitive inquiries out of the way of human hands, and they’ve created better lead generation through more personalized interactions. 

With the creative deployment of AI-enabled NLP, medical clinics have reduced administrative workload by as much as 30%. Adding the speed and accuracy of AI can make tasks like converting dictations into electronic health records foolproof. With AI dictation for data entry, today a single dental hygienist can do tasks that used to require two people.

It’s no surprise the financial industry has found many enormously creative uses for AI-enabled NLP. Some of the standouts include building tools that can quickly evaluate financial documents to detect fraud, analyze market sentiment, or extract information from verbal data for real-time reporting.

Building AI-Enabled NLP to Benefit Your Businesses

Mid-sized businesses of all types have enormous potential to leverage AI. But you’ll only find bang for your buck with tools that fit your organization like a glove. That’s why Salvo Software builds tailored integration solutions that empower medium-sized businesses to make the most of AI. 

We help you streamline workflow, enhance customer engagement, and get your hands on actionable insights from your data. Our solutions are fully custom-designed to the individual needs of our clients, allowing us to provide you with seamless incorporation of NLP technologies into your existing systems. 

FAQs

What is speech comprehension AI?

Speech comprehension AI is built to allow machines to understand and collect data from human speech. Whether on the phone or typing messages in an app, nearly everyone has already experienced some form of speech comprehension AI.  

The most obvious examples of speech comprehension AI are virtual assistants like Siri or Alexa. But modern chatbots are so sophisticated that many people don’t even realize they’re interacting with one. That high level of sophistication makes AI the best option for handling a wide range of customer interactions. 

Companies like Amtrak are now fully reliant on speech comprehension AI for things like ticket bookings, scheduling, policies, and handling high call center volume. Within a year of implementation, they managed to increase booking revenue by over a quarter.

How does AI convert speech into data?

It all starts with capturing a sound, and then modeling that sound by breaking down the audio signal into individual phonemes. Those pieces can then be mapped into complete words and sentences. Once a spoken phrase has been transcribed, natural language processing algorithms analyze it for meaning by incorporating context, intent, and probabilities. 

When a machine listens fastidiously to every word spoken, and records those words in a transcript… it becomes trivial to turn that into actionable data. 

Companies like CallRail use that data to identify trends, and then guide their outreach programs. By addressing commonly asked questions and proactively responding to the concerns of people in the later stages of the buying cycle, leveraging speech data delivered a boost to conversion rates in the area of 20%.

From dealing with customer concerns to measuring changes in sentiment, big bodies of data are enormously valuable when combined with the right kinds of AI. 

How does speech-to-data conversion benefit businesses?

There are dozens of different ways businesses are using speech-to-data conversion. The most effective is always the method that taps directly into something unique about that organization’s business processes.  

Mid-sized customer service companies like Sitel Group have implemented it to empower call center automation. Customer complaints and questions are categorized and escalated relative to their severity. Customers expressing dissatisfaction trigger an automatic alert for intervention. They improved response times and reduced churn in the process.

When Showpad’s sales teams started to leverage speech-to-data tools to analyze their sales calls, they quickly identified unique patterns in their successful pitches. That allowed them to train their sales teams to closely follow their winning formula, which boosted deal closures by about 20%. 

In short, speech-to-data conversion can enable companies to extract actionable insights. Those insights can improve decision-making, boost customer engagement, and bolster operational efficiency. It’s just a matter of finding the opportunities within your data and matching your unique business processes with the right technologies.

Which industries benefit most from AI-enabled NLP?

Nearly any industry that involves interaction with human speech! 

However, some can find more value than others. For example, AI-enabled NLP has fantastic applications for legal services. Services like LegalZoom have used it to process enormous volumes of legal text in seconds. They extract relevant terms, identify risks, and accelerate legal research from hours to minutes, and have managed to increase client volume by nearly a third without adding to their team.

AI in finance is another industry with a great deal of low-hanging fruit. Fintech companies like Kabbage have been exploring NLP to evaluate the creditworthiness of borrowers faster and with higher accuracy than traditional methods. In the time since then, their need to manually review these tasks has dropped by more than 60%.

AI in healthcare is another industry that’s teeming with potential for value. Mid-sized providers like Babylon Health have many opportunities to leverage AI-enabled NLP, from analyzing patient symptoms to taking medical histories. And they’ve seen marked improvements in diagnostic accuracy.

Again, nearly any industry that involves human interaction can take advantage of NLP.  It’s just a matter of finding the opportunities available in your data.

How can Salvo Software help with AI-enabled applications?

Salvo Software offers fully custom AI-powered solutions, including NLP-driven speech comprehension tools. We’re experts at identifying opportunities for value in AI-enabled NLP. Our expertise in custom integrations ensures businesses are equipped with the right tools to fully leverage what AI can do — at a price that makes sense. 

Whether collaborating with your team or managing your project independently, our dynamic and flexible approach to design has your solutions ready. Call us, we can help you figure out what kind of money you’re leaving on the table without AI.