It is worth noting, that what OpenText is doing is in stark contrast to its nearest competitor Hyland (backed by PE firm Thoma Bravo). That has over the past couple of years acquired a blockchain startup (Learning Machine), an RPA vendor (Another Monday) along with open source DAM/ECM vendors (Nuxeo & Alfresco).
It’s one thing to provide corporate access to video conferencing and messaging systems; it’s another challenge entirely to provide remote and tightly managed access to all the data and files those workers need to get their job done. Hence, over the next year, we can expect more deals in the digital workplace sector
But one area that seems to have garnered little attention is the gritty reality of the challenge of finding information, gaining and sharing knowledge, and make informed decisions. Endless Zoom meeting, just don’t cut it. We get by, we do the best we can, but for knowledge workers, in particular, there are serious and often unacknowledged challenges ahead.
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.
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 into the information management mainstream. We expect to see this take off over the next 2-3 years.
Today there was important news in the Cognitive Capture market. ABBYY, a privately-held company, announced an investment from Marlin Equity Partners, which will make Marlin the largest shareholder. Terms of the investment were not revealed. Marlin is a global private equity firm that acquires businesses across diverse industries and has built a significant portfolio of software companies.
Under the hood, Vantage utilizes Convolutional Neural Networks (CNN) that are pre-trained on hundreds of thousands of documents to extract visual features from a document. A Recurrent Neural Network (RNN) is used to extract semantic features of the text. While undoubtedly welcome to the large community of ABBYY users and the market at large, neither method is ground-breaking or particularly innovative.