Two North Carolina startups are teaming up to turn words into enterprise gold.
TextDistil turns text and unstructured data from contracts, articles, audio files, emails, and other documents into FAIR (Findable, Accessible, Interoperable, and Reusable) digital assets. Those assets in turn can be used by a company to more easily make business decisions.
“With Fluree as the back end, you have absolute proof that the provenance of information hasn’t been tampered with and is always auditable,” VP Buck Flannagan told Hypepotamus. “The Fluree-powered TextDistil offers an out-of-the-box way to manage knowledge…and make sure everyone is working from the same playbook.”
The new platform is also about ensuring proper oversight of algorithms. “We’re looking at making the humans better and more efficient at their jobs, while also being able to have some governance around the machines and algorithms that are making the decisions,” Flannagan added.
The two North Carolina teams connected a while back and after seeing opportunities to align their technologies. “There is considerable overlap with the immutable ledger from Fluree and text from us,” added Prasad Yalamanchi, CEO of Lead Semantics. “Unlike smart contracts, we are saying plain natural language text contracts — and the clauses that actually trigger transactions — will now have provenance from a ledger database like Flurry.”
TextDistil, Flannagan added, is designed to help companies work through the seemingly endless amount of data now out in the “Global Datasphere,” which is expected to bloom up to 175 zettabytes by the year 2025.
“Text to knowledge is the new frontier in building comprehensive enterprise data fabrics. While most organizations have wrangled structured or semi-structured data into a centralized data platform, unstructured data remains forgotten and underleveraged,” added Brian Platz, Co-founder and Co-CEO of Fluree. “Within the confines of unstructured data may lie the cure for a rare disease, an audit trail of customer interactions for regulatory bodies, or the key to a previously unsolvable business logistics challenge. We are proud to provide the semantic graph database backing the TextDistil initiative, bringing trust, traceability, and interoperability to enterprise unstructured information.”