Best Overall NLP Company Accolade Comes as Lexalytics Celebrates Its 20th Anniversary
AMHERST, Mass. (June 21, 2023) – Lexalytics®, an InMoment® company and pioneer in AI-based, NLP technology, announced that it was selected as the winner of the “Best Overall NLP Company” award in the sixth annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies, and products in the global Artificial Intelligence (AI) market.
Celebrating its 20th year of innovation in machine learning (ML) and natural language processing (NLP), Lexalytics is recognized as one of the preeminent pioneers in the commercialization of NLP and in helping companies make sense of their unstructured data. With Lexalytics, customers can analyze their text data natively across 31 languages and dialects, representing approximately 70% of the world’s population across six continents. Whereas many NLP providers do machine translation to English before applying NLP, Lexalytics’ native text data processing can achieve much higher levels of accuracy.
Lexalytics “Industry Packs,” which are consistently updated, enhance the performance and accuracy of its NLP engine by providing pre-built tunings of the engine, including industry-specific taxonomies, product and brand lists, sentiment tunings, and blacklists.
“Lexalytics consistently helps companies make sense of their unstructured data to drive business outcomes. Feedback used to assess customer satisfaction, improve retention, or provide input to product development is essential in this day and age,” said James Johnson, managing director, AI Breakthrough. “Congratulations to Lexalytics for combining NLP with AI to transform text in all its forms into usable data, while working with humans to produce specific AI solutions that solve business problems at any scale.”
Lexalytics continues to drive innovation by helping customers understand the deeper sentiment, emotion, intent, and effort behind their feedback data. Lexalytics can detect emotions like anger, anticipation, disgust, fear, happiness, sadness, surprise, and trust; how much effort (i.e., high, low, some, none) it takes to do a particular action; and intentions, such as complaint, praise, requested help, and purchase. These features are instrumental in helping companies recognize a customer or employee that is about to churn, or one that could be a brand advocate, or identify potential regulatory compliance issues.
“As we celebrate our 20th year in business, it’s an honor to be recognized by AI Breakthrough as ‘Best Overall NLP Company,’” said Jeff Catlin, CEO Lexalytics. “While we set out to give our customers an out-of-the-box NLP solution that delivers a quick return on investment, we’re unique in the industry in the amount of tuning and configuration we enable ‘under the hood’ to personalize how the platform performs for each customer.”
With its acquisition in 2021 by CX technology and services leader, InMoment, Lexalytics technology is now benefitting even more of the world’s leading brands and enterprises as it has been integrated into InMoment’s award-winning XI Platform. Further, the acquisition has helped catapult InMoment into the top of industry analyst reports from leading firms like Forrester and Frost & Sullivan.
The mission of the AI Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of AI and machine learning related categories, including AI Platforms, Deep Learning, Smart Robotics, Business Intelligence, Natural Language Processing, industry-specific AI applications, and many more. This year’s program attracted more than 2,950 nominations from over 18 countries worldwide.
About Lexalytics, An InMoment Company
Lexalytics, an InMoment company, processes billions of words every day, globally, for data analytics companies and enterprise data analyst teams that need to tell powerful stories from text data. Our products combine natural language processing with artificial intelligence to transform text in all its forms into usable data. Lexalytics solutions can be deployed on-premises, in the cloud or within a hybrid cloud infrastructure to reveal context-rich patterns and insights for voice of customer, voice of employee, customer experience improvement, market research, social listening, news monitoring and other business intelligence programs. For more information, please visit www.lexalytics.com.
About AI Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the AI Breakthrough Awards program is devoted to honoring excellence in Artificial Intelligence technologies, services, companies, and products. The AI Breakthrough Awards provide public recognition for the achievements of AI companies and products in categories including AI Platforms, Robotics, Business Intelligence, AI Hardware, NLP, Computer Vision, and more. For more information, visit AIBreakthroughAwards.com.