Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on artificial intelligence solutions. As there are a lot of such startups working on various different applications, we want to share our insights with you. Here, we take a look at 5 promising natural language processing solutions.
Heat Map: 5 Top Natural Language Processing Solutions
For our 5 top picks, we used a data-driven startup scouting approach to identify the most relevant solutions globally. The Global Startup Heat Map below highlights 5 interesting examples out of 266 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
Snaps – Marketing
While online advertising represents an easy way to reach millions of potential customers, it is incredibly hard to get a significant portion of them to buy what you are selling. Besides, people are spending a great deal of their time on social media apps. Digital assistants are a scalable option for brands that are looking to market their goods and services via customized messages on multiple platforms.
Snaps is a US-based startup that develops conversational digital assistants to help brands market and advertise their products better. Unlike email newsletters, they are more personalized as these assistants recommend products, answer questions, and offer promotions to mobile users. Snaps leverages mobile messaging apps as conservational alternatives to filling out forms.
Interface – Human Resource Management
In general, managing human resources (HR) is a tedious, slow, and often inaccurate task, particularly at large organizations. Natural language processing offers a range of tools for HR management, including sentiment analysis, potential identification, and competency improvisation. Furthermore, it also minimizes human-bias in decision-making.
The US-based startup Interface builds easy-to-deploy intelligent virtual assistants for enterprises. Their digital assistants guide employees through onboarding, training, pulse surveys, performance reviews, and exits. They also manage payroll, accounts, leaves, and expenses for each employee. Finally, the assistants also help with the management of passwords, applications, assets, and tickets.
MedInReal – Healthcare
Clinicians usually find it hard to devote enough time to each patient. Digital assistants address this issue by taking on the paperwork duties doctors usually have to deal with. They also facilitate communication with patients about their treatment, as well as help them better understand the need for medication or an operation.
The Dutch startup MedInReal offers a digital assistant that automates the administrative tasks for clinicians. It transcribes and analyzes medical audio notes to provide better insights into patient medications and treatment plans. It also helps patients to manage their medical data for shared decision-making.
AskSid – Retail
Online marketplaces generally make shopping very convenient. However, one crucial aspect of shopping they lack is the guidance from a friendly salesperson that one gets in brick-and-mortar stores. Digital assistants address this gap and make the online shopping experience conversational and personalized. Besides, conventional physical stores also employ digital assistants to enhance the consumer experience-
AskSid is an Indian startup that develops an artificial intelligence-powered chatbot for the retail industry. The chatbot strives to figure out consumer intent to guide customers through a personalized shopping experience. It also understands when a customer needs human help and enables a seamless transition. Besides, the chatbot comes with a proprietary retail model that monitors the product catalog, inventory, and pricing attributes.
Pand.ai – Finance
Banks and insurance companies have a large number of customers who need personalized guidance. Digital assistants or chatbots lead customers through routine tasks, address their questions, help in managing accounts, and offer financial advice. As a rule, they complement the human staff and ease their workload.
Pand.ai is a startup based out of Singapore that creates digital assistants for financial institutions. Their multilingual chatbots are equipped with contextual memory for more intuitive conversation, so that they answer complex questions, unlike ordinary chatbots. Banks and insurance companies use these chatbots to increase the number of incoming leads and their conversion.
What About The Other 261 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 5 natural language processing solutions showcased above are promising examples out of 266 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.