What does information extraction entail in natural language processing? Which NLP tools are considered the most effective?

Information extraction involves automatically extracting structured information from unstructured text. This process typically involves identifying specific entities (such as names, dates, locations) and relationships between them.
Some effective NLP tools for information extraction include:
Named Entity Recognition (NER) systems like Stanford NER, spaCy, and NLTK.
Rule-based systems for extracting specific patterns or formats.
Machine learning approaches such as Conditional Random Fields (CRF) or Sequence Labeling Models.