IBM (NYSE: IBM) today announced that global research firm Gartner has positioned IBM as a Leader in the newly published 2021 Gartner Magic Quadrant for Insight Engines1. This builds on the recent news that IBM was positioned as a Leader in the 2021 Magic Quadrant for Cloud AI Developer Services2 and the 2021 Magic Quadrant for Data Science and Machine Learning Platforms3.
In the report Gartner states, “Insight engines combine search capabilities with artificial intelligence to deliver actionable insights derived from the full spectrum of content and data sourced within and external to an enterprise. This Magic Quadrant profiles 15 vendors to help application leaders make the best choice.”
Language can present a unique challenge for businesses – each company and industry has its own vernacular that evolves in response to new innovations, changing consumer expectations and world events. In addition, the language of business comes in many formats, from simple text documents to more complicated formats like charts, tables, PDFs, and images.
IBM Watson Discovery, an AI-powered search and text-analytics service, uses advanced natural language processing (NLP) to help companies find new insights from complex enterprise documents and data.
IBM Research provides a strong pipeline of NLP innovation for IBM Watson designed to help businesses increase accuracy and efficiency, while requiring less data and training time. Over the past year, IBM unveiled new features in beta for IBM Watson Discovery including Reading Comprehension; commercialized advanced sentiment analysis and summarization tools from Project Debater; and partnered with the Recording Academy, Bloomberg & Intelligence Squared, the US Open and ESPN Fantasy Football.
“The majority of data does not fit neatly into a database. It exists in documents. Natural language processing is core to IBM’s AI for business strategy and helps businesses detect business critical insights, perform predictions, and better understand trends,” said Daniel Hernandez, General Manager for Data and AI, IBM. “IBM continues to be positioned as a Leader in reports like the Gartner Magic Quadrant for Insight Engines, which we believe underscores the value IBM Watson is bringing to businesses and partners.”
Organizations and ecosystem partners including EquBot and HSBC, and the Clerk of the Superior Court in Maricopa County are using IBM Watson Discovery in innovative ways to uncover meaningful business insights.
“We are only just now scratching the surface of what AI can do to transform investment management and more broadly financial markets,” said Chida Khatua, CEO, EquBot Inc. “Our team collaborated with HSBC to deliver a first-of-its-kind Artificial Intelligence-powered index (AiPEX) that uses EquBot neural networks with IBM Watson Discovery to uncover new investment opportunities.”
“Our team in Maricopa County receives thousands of service requests each day from our 4 million residents who need support with time-sensitive requests like applying for marriage licenses, renewing passports and accessing court records,” said Aaron Judy, Chief of Innovation and AI, Clerk of the Superior Court in Maricopa County, Arizona. “Using IBM Watson Discovery with IBM Watson Assistant, we’re able to pull up-to-date information from multiple sources across different agencies for complex questions, which helps to keep our citizens informed, keep wait times lower, save our agents valuable time, and provide greater access to justice for all.”
Read the blog and download a complimentary copy of the 2021 Gartner Magic Quadrant for Insight Engines at: https://www.ibm.com/blogs/watson/2021/03/ibm-gartner-leader-2021-magic-quadrant-insight-engines/
To learn more about IBM Watson Discovery, please visit: https://www.ibm.com/cloud/watson-discovery