{"id":85,"date":"2023-08-08T12:41:10","date_gmt":"2023-08-08T12:41:10","guid":{"rendered":"https:\/\/fintech.exrtechsolutions.com\/?p=85"},"modified":"2023-08-10T09:14:30","modified_gmt":"2023-08-10T09:14:30","slug":"why-nlp-needs-human-in-the-loop","status":"publish","type":"post","link":"https:\/\/fintech.exrtechsolutions.com\/index.php\/2023\/08\/08\/why-nlp-needs-human-in-the-loop\/","title":{"rendered":"Why NLP Needs Human-In-The-Loop\u200b"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"85\" class=\"elementor elementor-85\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-551a49d1 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"551a49d1\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-da20464\" data-id=\"da20464\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4f9aa82b elementor-widget elementor-widget-heading\" data-id=\"4f9aa82b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">FIN TECH <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74ac7019 elementor-widget elementor-widget-text-editor\" data-id=\"74ac7019\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>UPDATES<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-627c5a2a\" data-id=\"627c5a2a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-5fd9b177\" data-id=\"5fd9b177\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7e18957c elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"7e18957c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7a86e1c3\" data-id=\"7a86e1c3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-47dd2bc3 elementor-widget elementor-widget-heading\" data-id=\"47dd2bc3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Why NLP needs human-in-the-loop<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6daa2a98 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"6daa2a98\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-1770cec2\" data-id=\"1770cec2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7dd36c6f elementor-widget elementor-widget-text-editor\" data-id=\"7dd36c6f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Natural Language Processing (NLP) is a rapidly growing field of study that focuses on the development of technologies and algorithms that can analyze, interpret, and generate human language. While NLP algorithms have made significant progress in recent years, they are not yet perfect, and there are still many situations in which human intervention is necessary to improve their performance.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-45759cd6\" data-id=\"45759cd6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24abda15 elementor-widget elementor-widget-image\" data-id=\"24abda15\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 02-08-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1-1024x576.png\" class=\"attachment-large size-large wp-image-87\" alt=\"Why NLP Needs Human-In-The-Loop\u200b\" loading=\"lazy\" srcset=\"https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1-1024x576.png 1024w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1-300x169.png 300w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1-768x432.png 768w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1-1536x864.png 1536w, https:\/\/fintech.exrtechsolutions.com\/wp-content\/uploads\/2023\/08\/Industry-experts-refute-fintech-market-saturation-in-MENA-1.png 1920w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6503ce56 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"6503ce56\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6d570673\" data-id=\"6d570673\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-17593503 elementor-widget elementor-widget-text-editor\" data-id=\"17593503\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">While natural language processing (NLP) technologies are assisting financial services in extracting important insights from unstructured data, it is noted that human-in-the-loop solutions are still required (HITL).<\/span><\/p><p><span style=\"font-weight: 400;\">According to the RegTech firm, while the algorithms are advanced, they cannot compete with the human brain&#8217;s intuition and inventiveness.<\/span><\/p><p><span style=\"font-weight: 400;\">It could be explained by comparing an NLP solution to a car travelling on a lengthy journey to help convey the necessity for HITL. While the vehicle contains technological technologies to make the journey more comfortable, such as autonomous navigation and cruise control, the human driver is required to make key judgements and respond to unforeseen events. For example, the automobile may become disoriented, hit obstructions, or even crash.<\/span><\/p><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">Yet, HITL can assist NLP solutions adapt and learn from their failures in addition to improving the quality of their insights. Working together, they may discover areas for development and ways to improve the approach.<\/span><\/p><p><span style=\"font-weight: 400;\">Here are some reasons why NLP needs human-in-the-loop:<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ambiguity in language: Human language is full of ambiguity, and NLP algorithms often struggle to accurately interpret the meaning of words or sentences. For example, consider the sentence &#8220;I saw her duck.&#8221; Does this mean that the speaker saw a duck that belongs to her, or did the speaker see her physically duck down to avoid something? In such cases, a human must intervene to resolve the ambiguity and provide the correct interpretation.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Variability in language: Language can vary greatly depending on the context and the speaker. NLP models need to be trained on large and diverse datasets to account for this variability, but they may still struggle to recognize less common expressions, dialects, or neologisms. Humans can provide context and expertise that can help NLP algorithms better understand and analyze these variations.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Misclassification errors: NLP models can make mistakes, such as misclassifying text, due to lack of training data or model biases. Humans can help correct these errors by identifying them and providing feedback to improve the model&#8217;s accuracy.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Social and ethical considerations: NLP models can potentially perpetuate bias, discrimination, or misinformation if not properly designed and tested. Humans can provide critical insight and oversight to ensure that NLP algorithms are fair, transparent, and aligned with ethical standards.<\/span><\/li><\/ol><p><span style=\"font-weight: 400;\">Therefore, the human-in-the-loop approach in NLP can improve the accuracy and reliability of NLP models, reduce the risk of errors and bias, and ensure that NLP technology aligns with social and ethical norms.<\/span><\/p><p><span style=\"font-weight: 400;\">In a nutshell, by incorporating human-in-the-loop, financial services businesses may get more accurate and relevant insights, as well as enhance the NLP solution&#8217;s performance over time. Because of this ongoing improvement, the sooner you deploy, the better your solution will be in comparison to a competitor&#8217;s.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7cd8f0e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"7cd8f0e5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4ca8851a\" data-id=\"4ca8851a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FIN TECH UPDATES Why NLP needs human-in-the-loop Natural Language Processing (NLP) is a rapidly growing field of study that focuses on the development of technologies and algorithms that can analyze, interpret, and generate human language. While NLP algorithms have made significant progress in recent years, they are not yet perfect, and there are still many [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_canvas","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/85"}],"collection":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/comments?post=85"}],"version-history":[{"count":8,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/85\/revisions"}],"predecessor-version":[{"id":529,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/posts\/85\/revisions\/529"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/media\/87"}],"wp:attachment":[{"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/media?parent=85"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/categories?post=85"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fintech.exrtechsolutions.com\/index.php\/wp-json\/wp\/v2\/tags?post=85"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}