Squirro Acquires Synaptica: A Strategic Fusion of Generative AI and Knowledge Graph Technologies
16 Julio 2024 - 5:00AM
Business Wire
Squirro, a leading Swiss-headquartered global SaaS platform
specializing in enterprise-ready generative AI, search, and
business insights, proudly announces its acquisition of Synaptica,
a renowned US-based SaaS provider of enterprise taxonomy management
and knowledge graph systems.
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Squirro Acquires Synaptica: A Strategic
Fusion of Generative AI and Knowledge Graph Technologies (Graphic:
Business Wire)
This strategic acquisition integrates Synaptica’s robust
semantic graph technology with Squirro’s cutting-edge generative AI
capabilities, creating a powerful platform for knowledge discovery,
conversational search, and business process automation.
Enhancing GenAI with Knowledge Graphs
Generative AI technologies, such as Retrieval Augmented
Generation (RAG), leverage the strengths of traditional information
retrieval combined with Large Language Models (LLMs), enabling
natural language understanding and generation. RAG has swiftly
become a sought-after solution, empowering enterprise users to ask
natural language questions, retrieve relevant content and data, and
transform it into contextually informative responses.
“RAG alone does not ensure the completeness and accuracy of
information for mission-critical enterprise applications. Squirro
quickly identified that this gap can be bridged by combining
generative AI with enterprise knowledge graphs and semantic
technology,” stated Dorien Selz, CEO of Squirro.
Synergizing Capabilities for Enhanced Enterprise
Solutions
Synaptica’s SaaS platform is utilized by a diverse global
customer base, including major corporations and government
agencies, to manage enterprise knowledge, encompassing taxonomies,
ontologies, and knowledge graphs.
“Our customers span various industries, but they all share a
commitment to high-quality information retrieval. They use semantic
technology to build knowledge organization systems, standardize and
enrich metadata, and optimize precision and recall,” said Dave
Clarke, co-founder of Synaptica. Clarke will join Squirro’s
leadership team as Executive Vice President, Semantic Graph
Technology.
Key Benefits of the Integration
The integration of Synaptica’s semantic graph technology into
Squirro’s generative AI platform will enable organizations to:
- Enhance RAG Information Accuracy and Completeness:
Ground GenAI processes in transparent, human-editable knowledge
models.
- Automate Business Processes: Utilize process-oriented
taxonomies and ontologies to guide RAG decision-making, ensuring
appropriate refinement questions and recommended next steps.
- Improve Content Classification and Semantic Search: Use
single-source-of-truth enterprise taxonomies to provide consistent
quality metadata across multiple content repositories.
- Discover Latent Knowledge and Business Insights:
Continuously enrich an enterprise knowledge graph that infers new
knowledge from the semantic associations and similarities of
entities.
“The Generative AI space is evolving at an unprecedented pace,
and we are committed to providing a platform that empowers our
customers to stay ahead," said David Hannibal, CPO and Head of
Corporate Development. "We will continue to drive innovation, with
our first addition being knowledge graph enhanced
Retrieval-Augmented Generation (RAG)."
This acquisition marks a significant milestone for both
companies, positioning them at the forefront of the rapidly
evolving landscape of AI-driven knowledge management and business
process automation.
About Squirro
Squirro is a global SaaS provider headquartered in Zürich,
Switzerland, offering enterprise-ready generative AI, search,
business insights and automation solutions. Our mission is to
empower organizations with the tools they need to harness the full
potential of their data through advanced AI technologies.
www.squirro.com
About Synaptica
Synaptica is a US-based SaaS provider specializing in enterprise
taxonomy management and knowledge graph systems. Our solutions
enable organizations to manage and leverage their knowledge assets,
enhancing information retrieval and business process automation.
www.synaptica.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240716513849/en/
David Hannibal Chief Product Officer and Head of Corporate
Development, Squirro david.hannibal@squirro.com
Brenda Christensen Stellar PR 818/307-9942
brenda.christensen@stellar-pr.com