Everywhere we look, companies and individuals are talking about Natural Language Generation (NLG) and where it’s headed, especially with recent mainstream attention focused on ChatGPT and the latest advancements.
According to Data Bridge Market Research, the NLG market – which was USD 596.47 billion in 2021 – is expected to reach $3,084.41 billion by 2029, at a CAGR of 22.80% during the forecast period 2022-2029. While NLG is becoming increasingly popular for a variety of industries, it can be particularly beneficial for life sciences.
In such a regulated industry, it’s critical to implement solutions that can expedite processes at scale. NLG utilizes advanced AI to turn complex data sets into high-quality written narratives accurately. Below, we’ll dive into the definition and additional benefits NLG has to offer in the life sciences industry.
Benefits of Natural Language Generation
As a subsection of Natural Language Processing (NLP), NLG is an effective way to use AI to expand capacity/leverage data. NLG transforms data into meaningful explanations, narratives and written reports at the rapid speed of thousands of pages per second.
Additionally, implementing NLG solutions in life sciences can help pass strict regulatory requirements – saving time and costs caused by human error. NLG can summarize large amounts of data and explain analysis in-depth. It can model and scale human expertise at levels that have not been achieved before. NLG has the power to:
- Automate tedious report writing, which in such a highly-regulated industry, is a game changer for companies and employees
- Explain the results of data discovery or analysis in written languages
- Eliminate burnout by automating time consuming tasks and leveraging accurate data analysis
- Explain what courses of action to take in response to data, while complying to industry rules/regulations in every report
- Facilitate consistent writing styles across all documents and reports
As one of the early pioneers of NLG technology, Yseop simplifies a new standard of accuracy and consistency to help companies drive performance at scale. Yseop is a digital copilot for regulated industries. With that, many of the top life sciences firms have leveraged Yseop’s platform to transform data into high-quality narratives and regulatory submission reports, at scale and error free.
Yseop is actively seeking to extend its partner community to help make NLG more accessible to companies transitioning to a digital-age IT ecosystem. To learn more about Yseop’s NLG solutions and understand how this can translate to your business, please contact firstname.lastname@example.org.