IBM on Monday said that it has acquired Seek AI, an AI platform that permits customers to ask questions on enterprise information utilizing pure language, for an undisclosed sum.
Search CEO and founder Sarah Nagy mentioned that the startup’s know-how can be a key a part of Watsonx AI Labs, IBM’s new NYC-based AI accelerator, which IBM additionally introduced in the present day.
“[W]e’ll scale our platform, deploy mission-critical options for IBM purchasers, empower the subsequent technology of AI builders, and develop our crew considerably,” wrote Nagy in a LinkedIn post.
IBM’s acquisition of Search comes as the previous seems to be to develop its investments in AI, notably AI for the enterprise. It’s a technique that’s labored properly for IBM to this point. The tech large’s Q1 earnings beat estimates, pushed by software program progress and robust AI demand.
NYC-based Search, which Nagy based in 2021, affords an array of instruments designed to assist companies higher leverage their information. The corporate’s software program permits customers to work together with information utilizing a chatbot-like interface, mechanically translating pure language questions into database queries and performing high-level information evaluation and summarization.
Previous to its exit, Search AI managed to lift round $10 million from buyers together with Battery Ventures, Conviction Companions, and NJP Ventures. The startup will transfer its headquarters to One Madison, the placement of Watsonx AI Labs and IBM’s new Manhattan places of work, as soon as the deal closes.
“[W]atsonx AI Labs is the place the very best AI builders acquire entry to world-class engineers and assets and construct new companies and functions,” IBM GM of Information and AI Ritika Gunnar mentioned in an announcement. “By anchoring this mission in New York Metropolis, we’re investing in a various, world‑class expertise pool and a vibrant neighborhood whose improvements have lengthy formed the tech panorama.”
In a press launch, IBM mentioned that Watsonx AI Labs will carry collectively IBM researchers and engineers in a “collaborative hub” to construct AI options for firms. Watsonx AI Labs can even search collaborations with native schools and analysis establishments.
Startups that efficiently launch merchandise on the accelerator could 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.