IBM acquires data analysis startup Seek AI, opens AI accelerator in NYC

IBM has announced the acquisition of Seek AI, a startup specializing in data analysis through natural language queries, although the financial details remain undisclosed. Sarah Nagy, the CEO and founder of Seek, highlighted that the technology will significantly contribute to Watsonx AI Labs, IBM's newly launched AI accelerator located in New York City. In her LinkedIn post, Nagy expressed enthusiasm about scaling the platform, delivering essential solutions for IBM clients, and fostering the next generation of AI developers. This acquisition aligns with IBM's broader strategy to enhance its AI investments, particularly in enterprise applications, a move that has already yielded positive results with recent earnings exceeding expectations due to robust software growth and rising AI demand. Founded in 2021, Seek AI has developed tools that empower businesses to optimize their data usage through an intuitive, chatbot-like interface that converts natural language inquiries into database queries, facilitating advanced data analysis and summarization. Before the acquisition, Seek AI had successfully secured approximately $10 million from various investors including Battery Ventures and Conviction Partners. Following the completion of the deal, Seek AI will relocate its headquarters to One Madison, the future home of Watsonx AI Labs and IBM's Manhattan offices. Ritika Gunnar, IBM's General Manager of Data and AI, stated that Watsonx AI Labs aims to unite IBM's researchers and engineers in a collaborative environment to create innovative AI solutions. The labs will also seek partnerships with local educational institutions and research organizations. Startups that develop successful products within the accelerator will gain access to IBM's resources and potential investment opportunities through IBM Ventures and its $500 million enterprise AI fund.