IBM has acquired Seek AI, a promising startup renowned for its advanced natural language processing capabilities in data analysis. This strategic move highlights IBM’s growing commitment to enterprise data solutions and artificial intelligence.
The acquisition, announced Monday, significantly enhances IBM’s AI portfolio and positions the company as a leader in AI innovation across both the technology and commercial sectors.
With Seek AI’s powerful natural language querying tools, IBM is poised to deliver more intelligent and user-friendly enterprise analytics solutions. This acquisition clearly signals IBM’s ambition to lead the next wave of AI-driven transformation.
In conjunction with the acquisition, IBM revealed the launch of Watsonx AI Labs, a new AI accelerator based in New York City.
According to Sarah Nagy, CEO and founder of Seek AI, their technology will play a vital role in powering this initiative. The lab will act as a central innovation hub for developing state-of-the-art AI applications, with Seek AI’s technology serving as a cornerstone.
Since integrating Seek AI, IBM has intensified its enterprise AI efforts. Its software division’s growth and increased demand for AI-powered solutions were key drivers behind IBM’s Q1 profits surpassing expectations.
About Seek AI
Seek AI was established in New York in 2021 and has developed a suite of tools to help businesses unlock the potential of their data.
Users can interact with complex databases using their primary product’s user-friendly, chatbot-style interface. By automatically translating natural language queries into structured database queries, this technology facilitates the process for non-technical users to extract insights and summaries from their data.
Prior to its acquisition, Seek AI raised approximately $10 million from investors including Conviction Partners, NJP Ventures, and Battery Ventures. Following the deal, Seek AI will relocate to One Madison, which also houses IBM’s Manhattan offices and Watsonx AI Labs.
Objectives of Watsonx AI Labs
Ritika Gunnar, General Manager of Data and AI at IBM, emphasised Watsonx AI Labs’ mission: “Watsonx AI Labs is where the best AI developers gain access to world-class engineers and resources to build new businesses and applications. By anchoring this mission in New York City, we are investing in a diverse, world-class talent pool and a vibrant community whose innovations have long shaped the tech landscape.”
The Watsonx AI Labs will function as a collaborative hub where researchers and engineers will develop AI solutions for business needs. They will also foster partnerships with local research institutions and universities, strengthening New York’s status as a leading AI innovation hub.
Startups in the accelerator program will benefit from IBM’s resources, including investment opportunities through IBM Ventures and access to a $500 million enterprise AI fund. Beyond technology development, the program seeks to nurture entrepreneurial talent within the AI ecosystem.
By combining Seek AI’s state-of-the-art technology with a specialised innovation hub situated in the heart of New York City, IBM is solidifying its position as a global leader in enterprise AI.