Celent’s definition of natural language processing (NLP) is the application of artificial intelligence (AI) that analyses and synthesizes natural language and speech using computers. In Celent’s previous report, Natural Language Processing: The Next Frontier in Data Aggregation and Understanding, we introduced NLP neural networks, performance benchmarks, challenges of implementation, and tools and techniques. We also discussed the potential application of chatbots for financial services. In this report, we will extend our understanding of chatbots —or virtual assistants—speech-to-text and explore research directions and application as of date.