Our coverage of the Cognitive Capture market typically involves the processing of business documents (Office, PDF, scans, images, etc.) that are historically important for information governance and business processes. However, we are getting more and more questions about multimedia (audio, video) file analytics. Not surprising, given the growth in business video content. Some think video already comprises a whopping 80% of all Internet traffic.
Deep Analysis is closely watching as AI-powered video analytics crosses the chasm from media markets and digital asset management over to information management land. Companies like Veritone, best-known for its video and voice management platform used by media giants, have begun to market AI classification and text extraction solutions into cognitive capture applications. This competes with traditional capture vendors who lack multimedia file analytics. As the demand grows to manage and protect video and audio, we think that multimedia file analytics will become table stakes for the traditional cognitive capture leaders.
One such solution may come from AnyClip, which calls itself the “Visual Intelligence” company. It recently closed a $47 million round bringing the total invested so far to $71 million. AnyClip is not well known in the ECM world. It targets the enterprise video content market with solutions to turn business videos into profitable assets.
AnyClip software extracts data from video, enabling discovery and search of information within the video file. The company website touts the ability to analyze and organize video content, extract data, automatically tag with searchable metadata, and categorize video content by taxonomy, theme, or criteria. AnyClip makes extensive use of AI methods such as natural language processing (NLP) and deep learning to automate the processing of videos.
That sure sounds like a Cognitive Capture solution to us. With a suitable connector, AnyClip’s data results could be passed into other enterprise data applications such as CRM, compliance, records management, archiving, migration, RPA, etc. Imagine the ability to search for any content in any video, just as we already do with text files, and jump right to the spot in the video.
We’ve been talking about multimedia data capture in ECM and BPM for at least 20 years. Recent advancements in computing power and deep learning, leveraged by innovative companies like AnyClip and Veritone, are finally moving this into the information management mainstream. We expect to see this take off over the next 2 to 3 years.