Summary
IBM Watson Discovery comes out to simplifying complex processes and uncover valuable insights that drive business growth and efficiency.
Uncovering great insights hidden within your business documents with minimal effort and in a fraction of the time. IBM Watson Discovery, by connecting the capabilities of advanced Natural Language Processing and Understanding, this tool is set to change how workers operate, ensuring faster results, satisfied customers, and happier employees.
The Benefits of Watson Discovery IBM Watson Discovery is essential in accelerating decision-making and enhancing processes across all kinds of industries. with benefits such as:
- Accelerating Decisions & Processes:An insurance client reduced text data analysis time by 90%.
- Generating Revenue:A law firm experienced a 4x boost in productivity and a 30% increase in revenue.
- Reducing Costs:An oil and gas company achieved over USD 10 million in savings.
Key Features of IBM Watson Discovery IBM Watson Discovery comes equipped with may features that make it a game changer for businesses:
- Smart Document Understanding (SDU):This visual machine learning tool helps users to label text, helping the platform understand critical components in enterprise documents like headers and tables. SDU allows for content retrieval from relevant sources.
- Optical Character Recognition (OCR):IBM’s OCR provides high character accuracy and detection recall. It tops in extracting key insights from documents with irregular fonts, inadequate resolution, and various lighting conditions.
- NLP Enrichments:The platform includes out-of-the-box NLP enrichments such as entity extraction, sentiment analysis, emotion analysis, keyword extraction, and concept tagging, enhancing data analysis capabilities.
- Large Language Models (LLMs):Leveraging LLMs from Watson Natural Language Processing (NLP), Watson Discovery excels in processing and understanding text. It ensures the accurate extraction of information from business documents, leading to accelerated processes and valuable insights.
- User Friendly Tooling:The easy tooling lets anyone teach the language of their industry with no programming or coding skills required.
- Custom Entity Extractions:Users can define custom entity types and annotate entity mentions, accelerating training through supervised entity recognition.
Multipurpose Use Cases IBM Watson Discovery is a multipurpose tool with applications across various industries:
- Insurance:Enhancing underwriting, claims processing, and customer service with faster insights from insurance documents and customer data.
- Financial Markets:Allowing controls analysts, stockbrokers, and wealth management professionals to program document searches and gain meaningful insights.
- Legal Research:Assisting attorneys and controls specialists in automating searches of document to provide relevant answers and improve client services.
Source IBM Article: https://www.ibm.com/products/watson-discovery
Additional sources: https://www.ibm.com/watson/whitepaper/discovery/