Example of why word embeddings matter
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The word “Bond” can depend on the context that you come across. If it is a community news letter, the bond could be used in the context of “Walk to Bond”, “Run to Bond”, “Meet to Bond”. Here the word “Bond”, means bonding.
In the context of Financial news, “Bond” could in all probability mean a financial instrument.
If you have a word2vec model, “Bond” is collapsed in to one dimension and hence loses all the context.