Natural Language Processing (NLP) has come a long ways to be able to work with unsupervised data (self-learning) but in most industries, it is still equated to virtual assistants (‘chatbots’) that can handle basic customer queries. Most AI enabled linguistic mentions fail to distinguish between Natural Language Understanding (NLU) and Natural Language Generation (NLG) and how advanced deep learning (specifically recurrent neural networks) are ushering in a highly sophisticated era where virtual assistants go beyond answering basic customer query.

Even more amusing is how many Financial Institutions fervently market their virtual assistant as the next big breakthrough, so much so, they christen it with a human name. In this research, we move past this repeated diatribe into more sophisticated yet highly practical NLU, NLG use cases: