Aragon Research Predicts Emergence of New Business Category Led By Providers Focused on Extraction of Intelligence from Unstructured Data Using Artificial Intelligence
Aragon Research, a technology-focused research and advisory firm based in Silicon Valley, today released a report that identifies Seal Software as a key provider in the emerging Intelligent Content Analytics (ICA) market. The report is among the first and perhaps the most comprehensive evaluation of how the current class of Intelligent Content Analytics Platforms (ICAPs) will enable enterprises to leverage their critical content.
The Aragon Research Note by analysts Jim Lundy and Adrian Bowles identifies ICA as a new business category that goes beyond the traditional store and secure approach to content management, enabling actionable insights through advances in Artificial Intelligence (AI), most notably Machine Learning and Natural Language Processing algorithms. The emerging category will grow out of providers currently focused on the extraction of intelligence out of unstructured content using AI, and Aragon predicts that the insights gained from this shift will allow enterprises to operate more efficiently and grow revenue faster with less risk. Aragon forecasts that this new market will grow to more than $10 billion by 2025, with the combined adjacent markets — business intelligence, enterprise content management, sales engagement, and cloud office suites — accounting for $67 billion by 2025.
“We are leaving the Enterprise Content Management era, and Intelligent Content Analytics is the new way forward,” said Jim Lundy, founder and CEO at Aragon Research. “Fortune 1000 companies are already using platforms such as Seal Software to uncover all types of unstructured content, not only contracts, and we believe that this trend will transform the enterprise in the next few years as companies increasingly look to Intelligent Content Analytics Platforms as part of their overall digital business strategy.”
Aragon identifies Contract Analytics as a seminal use case at the vanguard of forming the new ICA category, whereby AI technologies are used to extract key clauses, information and normalizations to deliver detailed insight over tens and thousands of contracts. Seal Software is one of the pioneers in Content Analytics, with a particular focus on analysis and discovery of contract terms.
“I am delighted that Aragon Research has identified Seal Software as a leader in this emerging category” said Ulf Zetterberg, co-founder and CEO of Seal Software. “Whilst we have been providing discovery and analytics technology to many of the most important enterprises, helping them understand and leverage the information contained within their contracts for over 7 years now, many are also looking to Seal to help them understand, codify and drive insight of other types of unstructured content.”
The Aragon report concludes that Enterprise Content Management (ECM) systems are not sophisticated enough to leverage and exploit unstructured content in the digital enterprise. According to the Aargon, the coming ICA era will usher in a new set of providers, exemplified by Seal Software, which will offer platforms that can integrate with existing ECM systems such as such as those offered by Alfresco, Hyland, IBM, Microsoft, Nuxeo, and OpenText. Zetterberg continued, “We believe an ICA platform will become the norm for enterprises and will provide the insight which ECM platforms have failed to deliver.”
About Seal Software
Seal Software is the leading provider of contract discovery, data extraction, and analytics. With Seal’s machine learning and natural language processing technologies, companies can find contracts of any file type across their networks, quickly understand what risks or opportunities are hidden in their contracts, and place them in a centralized repository. Based in San Francisco, Seal empowers enterprises around the world to maximize revenue opportunities, reduce costs, and mitigate risks associated with contractual documents, systems, and processes. For more information, visit Seal Software at www.seal-software.com.
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