Natural Language Processing is the ability of a Computer program to understand and automatically manipulate the natural language like speech, text etc. According to Wikipedia, Natural language processing (NLP) is a subfield of linguistics, computer science, and artificial intelligence concerned with the interactions between computers and human (natural) languages, in particular how to program computers to process and analyze large amounts of natural language data.
How NLP is Growing
The global NLP market size is expected to grow from $10.2 billion in 2019 to $26.4 billion in 2024. That’s an average annual growth of 21 percent per year for this five-year period. The major growth factors of the NLP market include the increase in smart device usage, growth in the adoption of cloud-based solutions and NLP-based applications to improve customer service, as well as the increase in technological investments in the healthcare industry. Click here for the entire report.
What NLP can do ?
- NLP Can Translate Plain English Search Terms into Legal Searches.
- NLP Can Find Information Relevant to How a Court May Rule
- NLP Can Reveal Where Specific Phrases Appear in a Lengthy Document
- NLP Can Offer Visualizations to Help Users Better Understand Results
NLP in Legal Research
Legal research lies at the heart of the legal profession. Any legal advice attorneys provide has to stay in line with constitutional, statutory (as created by legislators), and case law (as created by judges). While online legal databases have been available for more than a decade, natural language processing (NLP) can help streamline the research process.
We’ve all spent time doing searches and trying to find exactly what we need. But when it comes to contract language and figuring out what phrases will help to create the exact language parameters to protect clients, that can be trickier. Omit something that you think you don’t need, and you can be in a world of hurt. While you can use online legal databases, what you can also do is learn better how to come up with searches that are natural and best meet your needs from the start of your project.
The trick is understand traditional search versus natural language search. The former is more formal and limited, while the latter relies on artificial intelligence as a way to be more inclusive for language you’ll need for a contract.
What is the difference and how do you implement the change in your searching and contracts? This graphic gives some insights.