OpenText Launches New Artificial Intelligence (AI) Platform to Enable Business Insight
OpenText Magellan to Democratize Artificial Intelligence by Leveraging Open Standards
Toronto, ON –
OpenText™ (NASDAQ: OTEX, TSX: OTEX), a global leader in Enterprise Information Management (EIM), today announced the availability of OpenText Magellan, the company’s new Artificial Intelligence (AI) platform. OpenText Magellan is a flexible AI and analytics platform that combines open source machine learning with advanced analysis and the capabilities to acquire, merge, manage and analyze Big Data and Big Content. Unveiled and demonstrated at OpenText Enterprise World 2017, Magellan’s cognitive computing platform offers users machine-assisted decision making, automation, and business optimization, in an easy to use and affordable package.
OpenText Magellan is a cost-effective solution built on a cohesive, highly scalable infrastructure equipped for handling massive amounts of structured and unstructured data. Powered by OpenText Analytics, and Apache Spark, OpenText Magellan integrates across any EIM architecture to dramatically reduce the time, effort and expertise required to leverage the value of advanced analytics in decision making and task automation.
“Enterprises have created vast data lakes of information over the last decade, and OpenText Magellan helps to organize that information and unlock its value,” said Mark J. Barrenechea, OpenText CEO and CTO. “As automation advances at incredible rates, and enterprise data grows larger, OpenText Magellan brings the power of analytics, algorithms and statistical models to organizations around the world for advanced decision making and better business insight. With OpenText Magellan, we are moving towards a more open, scalable and affordable future for AI. OpenText is committed to ensuring AI is designed into its offerings from day one.”
“Data is the feedstock of AI, and unstructured data in particular, is where the hidden insights lie; insights into customer intent, employee behavior, partner’s contractual obligations and litigants’ evidence,” said Nick Patience, Founder & Research VP, 451 Research. “The ability to ingest, analyze and understand vast quantities of data – combining structured with unstructured - is now possible using AI-driven platforms and applications. Companies that understand this will gain advantages over those that don’t and equip themselves for the AI-driven economy.”
The solution is designed for multiple use cases enabling customers to:
- Leverage Machine Learning to unlock the value of EIM data by analyzing customers, trading partners, employees, orders, invoices, cases, documents and other data managed in these systems.
- Deliver value from AI faster and cost-effectively by deploying a cohesive platform with pre-integrated components to minimize the effort and expertise required to go live.
- Democratize access to AI by empowering data scientists to create custom algorithms for use by business analysts and operational users.
- Utilize an open-source, Apache Spark-based platform to automatically derive the most current and complete insights from Big Data and EIM Content to achieve optimal outcomes.
- Augment applications automatically with fast, self-service analytics, empowering business users to delve deep into massive amounts of data and derive actionable insight.
Availability OpenText Magellan is available immediately.
OpenText enables the digital world, creating a better way for organizations to work with information, on premises or in the cloud. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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