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Natural Language Processing (NLP) is the computerized approach to analyzing text using both structured and unstructured data. NLP is a simple, empirically powerful, and reliable approach. It achieves state-of-the-art performance in language processing tasks like Semantic Search (SS), Machine Translation (MT), Text Summarization (TS), Sentiment Analyzer (SA), Named Entity Recognition (NER) and Emotion Detection (ED). NLP is expected to be the technology of the future, based on current technology deployment and adoption. The primary question is: What does NLP have to offer in terms of reality, and what are the prospects? There are several problems to be addressed with this developing method, as it must be compatible with future technology. In this paper, the benefits, challenges and limitations of this innovative paradigm along with the areas open to do research are shown. [ABSTRACT FROM AUTHOR]