IBM has acquired AlchemyAPI to improve the Watson platform and cognitive computing development.
Big Blue announced the purchase on Wednesday, saying the deal would improve next-generation cognitive computing applications and significantly expand the Watson ecosystem.
Denver, CO-based AlchemyAPI is a developer of smart applications which utilize deep learning for real-time data analysis and processing of unstructured data for use by businesses. AlchemyAPI offers a deep learning platform which can be used by companies to build smarter apps which are capable of advanced data capabilities including taxonomy categorization, entity and keyword extraction, sentiment analysis and web page cleaning. The firm's software platform processes billions of API calls per month across 36 countries.
AlchemyAPI's solutions are currently used by over 40,000 developers across 36 countries -- all of which will now be part of the IBM Watson developer community.
Financial details were not disclosed.
IBM plans to integrate AlchemyAPI's deep learning technology into the core Watson platform, which will "augment Watson's ability to quickly identify hierarchies and understand relationships within large volume data sets," according to the tech giant. In addition, AlchemyAPI's technology is expected to enhance Watson's ability to ingest, train and learn the "long-tail" of various data domains. The buyout will also boost the number and types of scalable cognitive computing APIs available to IBM clients.
"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 of 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, a famous quiz-winning computer unit, is a system delivered through cloud technology which analyzes large volumes of data, understands complex questions posed in natural language, and proposes evidence-based answers -- the core elements of cognitive computing and deep learning. Watson services are offered through the Watson Zone on Bluemix, a platform which enables developers to build, deploy and manage apps across any combination of public, private and hybrid clouds. Over 7,000 apps powered by Watson have been built to date.
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