Gartner names IBM a Leader in 2021 Magic Quadrant for Insight Engines
Gartner has once again recognized IBM as a “Leader” in its Magic Quadrant for Insight Engines. Gartner defines the Insight Engine category as “an evolution of search technologies that provide on-demand and proactive knowledge discovery and exploration augmented by semantic and machine learning technologies.”
IBM Watson Discovery is AI-powered intelligent search that specializes in understanding business-specific natural language, semantics and document structure in order to serve up insights and concise answers from complex business documents. By doing so, it cuts research time by more than 75 percent. Watson Discovery uses Natural Language Processing (NLP) to comprehend human language, allowing users to quickly and easily mine their business’s data for answers, and identify patterns and trends that they might not otherwise notice. It deploys anywhere with IBM Cloud Pak for Data.
Three core strengths
Watson Discovery has three core strengths. The first is IBM’s offering strategy. Watson Discovery is part of a broader software ecosystem, integrating with tools such as Watson Speech to Text and Watson Assistant. For example, Watson Discovery has an out-of-the-box search skill integration with Watson Assistant, which allows users to surface answers through a conversational interface in any device, app, or channel.
The second is the Watson Discovery product itself. IBM has implemented Smart Document Understanding, which provides AI-based visual document understanding to more accurately pinpoint answers based on a business’s unique document layout and formatting. This capability also enables Watson Discovery to identify and retrieve tables embedded in documents as answers to users’ questions. Watson Discovery is built for enterprises: it comes out of the box with a plethora of capabilities that enable business users to hone the system to the unique language of the client’s business.
Third, IBM has a strong understanding of the market. With over 65,000 global partners, IBM has an unparalleled number of use cases across a wide variety of domains. The breadth and depth of these relationships allow IBM to develop products like Watson Discovery to meet the many varying needs of its partners.
NLP and NLU out of the box
Watson Discovery takes advantage of the latest innovations that come out of IBM Research. One of the main advances in 2020 is more powerful NLP, which allows for faster, more efficient, and smarter recommendations. Users can search extensive data sets (particularly unstructured data) using natural language. Watson NLP also now includes extractive summarization and more powerful customization capabilities.
IBM clients are already achieving transformative results with Watson Discovery’s new capabilities. IBM partner Ernst & Young is using Watson Discovery to surface insights centered around diligence topics, rather than in a traditional file structure. EY Diligence Edge ingests thousands of data room documents that outline finance, tax, operations and IT information. Using Watson Discovery, the platform then searches these documents using a custom NLP model trained on EY’s proprietary M&A insights. This helps dealmakers identify and leverage valuable insights throughout the transaction’s life cycle, as well as make informed decisions on deal value opportunities and gain an advantage in competitive deal processes.
Gartner, Magic Quadrant for Insight Engines, March 17, 2021, Stephen Emmott, Anthony Mullen. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.