Named Entity Recognition NER works by locating and identifying the named entities present in unstructured text into the standard categories such as person names, locations, organizations, time expressions, quantities, monetary values, percentage, codes etc. Spacy comes with an extremely fast statistical entity recognition system that assigns labels to contiguous spans of tokens.
spaCy is an open-source Python library that parses and “understands” large volumes of text.
spaCy is the best way to prepare text for deep learning.
It interoperates seamlessly with TensorFlow, PyTorch, scikit-learn, Gensim and the rest of Python’s awesome AI ecosystem.
With spaCy, you can easily construct linguistically sophisticated statistical models for a variety of NLP problems.