In the last couple of years, Neural Network (NN) based approaches have gained enormous popularity within statistical NLP generally, with applications to Machine Translation , Conversation Modelling (Vinyals and Le, 2015) and Parsing (Tai et al., 2015), to cite only a few.
architectures based on Recurrent Neural Network (RNN) such as LSTMs (Hochreiter and Schmidhuber, 1997) and GRUs  have been succesfully used in Language Modelling tasks due to their ability to model sequential information with long-range dependencies.