What is Models?
In Natural Language Processing (NLP), a model is an AI system trained to understand, interpret, and generate human language. NLP models analyse textual data to perform tasks like translation, text summarisation, sentiment analysis, and speech recognition.
NLP models require a lot of data and computer power to train. They have a layered structure that allows them to analyse and perform their necessary tasks and pre-trained models can be customised for specific needs. The goal of NLP models is to enable more human-like understanding and generation of language by AI systems.
Models in financial services
In financial services, NLP models are applied to client calls, emails and documents — transcribing speech, identifying topics and flagging language that may indicate risk or vulnerability. Firms choose and evaluate models for accuracy on their own types of conversation, not just general benchmarks.