In perhaps the ultimate cool endorsement, last week at WWDC Apple announced optical character recognition will be embedded in iOS 15. Named LiveText OCR, Apple describes it as “secure on-device intelligence to help you discover more in your photos, quickly find what you’re looking for, and relive special moments.”
You can read more about the arcane world of file migration in our recent report, but though this Analyst Note focuses on Box Shuttle, the fact is we are seeing a surge of interest across the board in moving files to the cloud. And that shift opens up a wide range of new opportunities and challenges for firms to adapt, and to innovate in ways they could not do while keeping files on-premises.
Move over, machine learning, here come the deep learning algorithms. We predict that deep learning models will disrupt the status quo of document classification over the next 12 – 24 months, as customers discover that they can train an AI classifier with as few as five samples and deploy it in a matter of hours. Without the need for Amazon, Google, Microsoft, or IBM, and without the traditional massive compute costs and data sets associated with Deep Learning to date. Time will tell if we are right or not, but change is on the horizon.
This past week, Utah-based NetDocuments ownership switched from Clearlake Capital Group to private equity firm Warburg Pincus, reportedly, for reportedly, over $1B documents. It’s an exciting move for NetDocuments, whom we know pretty well, for several reasons. Firstly, such a large deal will surprise many in the industry as NetDocuments, as the saying goes, flies beneath the radar.
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