IBM Enhances Watson Discovery with NLP
November 11, 2021
IBM introduced new natural language processing (NLP) enhancements
planned for IBM Watson Discovery. These planned updates are designed to
help business users in industries such as financial services, insurance
and legal services enhance customer care and accelerate business
processes by uncovering insights and synthesizing information from
The new planned features that IBM announced today are designed to make
it easier for Watson Discovery users to quickly customize the underlying
NLP models on the unique language of their business. Stemming from NLP
advancements developed by IBM Research, business users can train Watson
Discovery to help read, understand and surface more precise insights
from large sets of complex, industry-specific documents even if they
don't have significant data science skills.
Automatic text pattern detection: IBM has released a new advanced pattern creation feature in beta in the Plus, Premium and Enterprise plans that is designed to help users quickly identify business-specific text patterns within their documents. This is key for tasks like analyzing massive amounts of contracts or financial reports, which may report the same type of information, such as an increase or decrease in revenue, in different formats or using different phrases. Developed by IBM Research, it helps provide efficient ways of labeling data and training models. It is designed to start learning the underlying text patterns from as few as two examples and then refines the pattern based on user feedback. This helps users more rapidly train a model without manual and time-intensive tasks like defining rules and expressions.
Advanced NLP customization capabilities: Training NLP models to identify highly customized, business-specific words and phrases – for example insurance claim forms may include specific claim reasons or affected products – is a time-consuming task that requires significant data prep, labeling, and orchestration. Models trained on generic data sets often fail to retrieve the right information. With a new custom entity extractor feature, now available in beta for Watson Discovery Premium users, IBM is simplifying this process by reducing the effort for data prep, simplifying labeling with active learning and bulk annotation capabilities, and enabling simple model deployment that can accelerate training time.
The planned updates announced today are part of a pipeline of
developments stemming from IBM Research. For example, answer finding was
recently made generally available in Watson Discovery and Watson
Assistant's Search Skill. It is designed to help busy professionals and
customers identify the precise insights they need.
Contract management can be a slow, manual and complex process. IBM business partner ContractPodAi, an award-winning provider of the AI-powered contract lifecycle management (CLM) led solution 'One Legal Platform', extended its end-to-end solution with several AI technologies including IBM Watson Discovery, among other providers. The solution helps simplify the complexities of contract management, automate mundane tasks and transform complicated workflows. Building on the strength of ContractPodAi's CLM solution, the no-code platform is designed to help in-house legal teams manage many legal scenarios, processes, or documents using the platform's pre-built and configurable applications, such as claims, RFP review, and IP portfolio management.