PROJECT ECONOMIC RELEVANCE AND SOCIOECONOMIC IMPACT- Research Title: Natural Language Processing Parser Technique for Document Cracking and Information Extraction Model

The development of a Natural Language Processing (NLP) Parser Technique for document cracking and information extraction models is economically justified in the modern digital economy when many companies and organizations depend on the effective processing, interpretation, storage, and retrieval of information. With the rapid increase in the volume of digital and electronic documents produced by governmental bodies, banks and other financial organizations, universities and colleges, hospitals, clinics, etc., there is a strong need for intelligent techniques for document processing. The existing techniques of document processing are based on reading, entering, classifying, and retrieving information manually. This process requires much time, effort, and costs and may involve errors made by a person. The suggested NLP model will try to solve these problems using a computationally intelligent technique, able to analyze the content of documents, identify the meaningful structure of language, extract information, and transform unstructured data to structured information.From an economic point of view, this project offers possibilities of reduction of costs of the business operations, increasing of productivity, decreasing of time of the processing of information, and efficient use of the human and technical resources. Using this project, a lot of work will be done automatically, and it will allow the company to save money and labor and to use the saved resources for more productive activities.Moreover, the suggested model has commercial prospects as a product for intelligent document processing, which can be used as software, an information management system for the enterprise, a cloud-based service, or an API.