IBM acquires AlchemyAPI
IBM announced on March 4 it has acquired AlchemyAPI, a leading provider of scalable cognitive computing application program interface (API) services and deep learning technology. The acquisition will accelerate IBM’s development of next generation cognitive computing applications.
The acquisition also significantly expands the Watson ecosystem, welcoming 40,000 developers that have innovated on the AlchemyAPI platform to the IBM Watson developer community. Financial terms of the deal were not disclosed.
IBM will integrate AlchemyAPI’s deep learning technology into the core Watson platform, augmenting Watson’s ability to quickly identify hierarchies and understand relationships within large volume data sets. The technology is expected to enhance Watson’s ability to ingest, train and learn the “long-tail” of various data domains – including general business and target industries, as well as address the need to manage constantly evolving ontologies.
In addition, the acquisition will greatly expand the number and types of scalable cognitive computing APIs available to IBM clients, developers, partners and other members of the Watson ecosystem. This includes language analysis APIs to address new types of text and visual recognition, and the ability to automatically detect, label and extract important details from image data.
Founded in 2005 and headquartered in Denver, AlchemyAPI’s deep learning platform enables clients, partners, developers and other third-parties to build cognitive-infused applications with advanced data analysis capabilities such as taxonomy categorization, entity and keyword extraction, sentiment analysis and web page cleaning. The company’s software platform processes billions of API calls per month across 36 countries and in eight different languages: English, French, German, Italian, Portuguese, Russian, Spanish, and Swedish.
“IBM continues to invest in Watson‘s core technology and cloud development platform, amplifying a robust Watson ecosystem where third party organizations are creating new businesses and solutions powered by Watson,” said Mike Rhodin, senior vice president, IBM Watson. “Our ability to draw upon both internal and external sources of innovation, from IBM Research to acquisitions like AlchemyAPI, remain central to our strategy of bringing Watson to new markets, industries and regions.”
“Today is the start of a new journey for AlchemyAPI, our customers and our user community, as we join IBM, the leader in cognitive computing,” said Elliot Turner, founder and CEO, AlchemyAPI. “We founded AlchemyAPI with the mission of democratizing deep learning artificial intelligence for real-time analysis of unstructured data and giving the world’s developers access to these capabilities to innovate. As part of IBM’s Watson unit, we have an infinite opportunity to further that goal.”
Watson is the first commercially available cognitive computing capability representing a new era in computing. The system, delivered through the cloud, analyzes high volumes of data, understands complex questions posed in natural language, and proposes evidence-based answers. Watson continuously learns, gaining in value and knowledge over time, from previous interactions.