Information Extraction –

A Natural Language Processing system that aims to gather and extract collated
relevant information in a quick manner that can be used efficiently in the
development and improvement of various businesses. Information extraction
makes use of unstructured data from social media conversations, emails and
interactions with customer service representatives and converting it into
accessible data facilitating the decision making of businesses through advanced
algorithms and software applications.

 Information is the new fuel, it is a well-known fact now. But the data which is received at any
receiving end mostly consist of unstructured format. The emergence of the advanced
statistical algorithms results in the rise predictive analytics and prescriptive analytics which
made the prediction system more accurate. But these algorithms demand more and more
information for finding the patterns and Matching them. Of course, Machine learning and
Deep learning methods are doing an impressively great job, but without Natural Language
Processing these things are not possible.

Fraud Detection in BankingThe world of finance is very vulnerable to fraud and

this world solely based on the text as every entry and record is maintained in the
form of text. Natural Language Processing with the help of Machine Learning is used
to detect fraud and misinterpreted information. Natural Language Processing
generally used to extract information and process information which is further used
by Machine learning model to train themselves to expose the fraud.

Natural Language Processing can be used to perform the text analytics for searching the
appropriate applications from the data, and it also can be used for selecting the best
applications from the data available. Natural Language Processing can be used on different
phases and with a different medium. Some of the primary use cases which can be used in
Recruitment are Information Extraction