IBM on Monday stated that it has acquired Search AI, an AI platform that enables customers to ask questions on enterprise knowledge utilizing pure language, for an undisclosed sum.
Search CEO and founder Sarah Nagy stated that the startup’s expertise shall be a key a part of Watsonx AI Labs, IBM’s new NYC-based AI accelerator, which IBM additionally introduced at present.
“[W]e’ll scale our platform, deploy mission-critical options for IBM shoppers, empower the following era of AI builders, and develop our staff considerably,” wrote Nagy in a LinkedIn put up.
IBM’s acquisition of Search comes as the previous appears to be like to develop its investments in AI, significantly AI for the enterprise. It’s a technique that’s labored nicely for IBM to date. The tech big’s Q1 earnings beat estimates, pushed by software program development and robust AI demand.
NYC-based Search, which Nagy based in 2021, affords an array of instruments designed to assist companies higher leverage their knowledge. The corporate’s software program permits customers to work together with knowledge utilizing a chatbot-like interface, robotically translating pure language questions into database queries and performing high-level knowledge evaluation and summarization.
Previous to its exit, Search AI managed to lift round $10 million from traders together with Battery Ventures, Conviction Companions, and NJP Ventures. The startup will transfer its headquarters to One Madison, the situation of Watsonx AI Labs and IBM’s new Manhattan workplaces, as soon as the deal closes.
“[W]atsonx AI Labs is the place the most effective AI builders acquire entry to world-class engineers and assets and construct new companies and purposes,” IBM GM of Knowledge and AI Ritika Gunnar stated in a press release. “By anchoring this mission in New York Metropolis, we’re investing in a various, world‑class expertise pool and a vibrant group whose improvements have lengthy formed the tech panorama.”
In a press launch, IBM stated that Watsonx AI Labs will convey collectively IBM researchers and engineers in a “collaborative hub” to construct AI options for firms. Watsonx AI Labs may also search collaborations with native schools and analysis establishments.
Startups that efficiently launch merchandise on the accelerator can have entry to IBM assets in addition to potential funding from the corporate’s company VC wing, IBM Ventures, and its $500 million enterprise AI fund.
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