By Ben Lorica and Paco Nathan.
Our 2021 NLP Industry Survey report is informed by several important contrasts: organizations with years of history deploying NLP applications in production compared to those which are exploring NLP, responses from Technical Leaders versus general practitioners, and company size. We draw insights and indicate trends based on those contrasts. This survey was conducted in collaboration1 with John Snow Labs.
Here are a few highlights:
- NLP Budgets remain robust: 60% of Tech Leaders indicated that their NLP budgets grew by at least 10% compared to 2020. A third (33%) of Tech Leaders indicated that their NLP budgets grew by at least 30%.
- Users want high-accuracy tools that are easy to tune and customize: Tech Leaders emphasized the following features as key to NLP solutions – Accuracy, Production Readiness, and Scalability.
- Named Entity Recognition (NER) and Document Classification are the most popular applications of NLP.
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VentureBeat: “Enterprise NLP budgets are up 10% in 2021”