Relativity announced that it has
acquired Text IQ, a Top
100 AI company applying artificial intelligence (AI) to identify
sensitive data.
Text IQ
leverages the latest in unsupervised machine learning (ML), graphical modeling,
social network analysis (SNA), natural language processing (NLP) and deep
learning to create AI solutions for the world's largest enterprises to manage
and mitigate risks in enterprise data. Text IQ's AI helps to lower the cost and
risk of legal privilege review, speed up and increase the accuracy of data
breach response workflows, and quickly identify and manage personally
identifiable information (PII) which are often associated with Global Data
Protection Regulation (GDPR) and Data Subject Access Requests.
The team at
Text IQ is comprised of widely recognized, pioneering leaders in their field.
They have long been focused on deep learning models that scale horizontally
across massive data sets while improving in real-time-identifying people,
relationships and sensitive data at scale with limited human input. Text IQ's
technology is applied within legal, compliance and privacy departments in most
major industries spanning the Global 2000,
uncovering latent risk buried in unstructured data. Text IQ will continue to
focus on selling to and servicing the industry and its customers and innovating
its technology. It will work with the Relativity team to build a seamless
integration between its products while also embedding some of its core
capabilities to improve existing AI and ML functionality in RelativityOne and
Relativity Trace-providing Relativity's 300,000 users with access to Text IQ's
leading AI capabilities.
"We're merely
scratching the surface of what the application of AI to our industry can mean.
Our customers recognize that while AI offers immense possibility, it must be
thoughtfully designed and applied to address use cases that yield specific
business outcomes," said Mike Gamson, Chief Executive Officer at Relativity.
"We know that Text IQ's proven technology, coupled with its incredible team of
talented professionals, will be a wonderful addition to Relativity and help us
deliver even more value to our customers."
"Most of the
industry's legal and compliance data already live within the Relativity
ecosystem, which adds to our excitement around increasing Relativity's
customers' access to our AI models," said Apoorv Agarwal, Co-Founder and Chief
Executive Officer at Text IQ. "The fusion of our companies and technology will
deliver on the promise of AI in a way that our industry has yet to experience
all while ensuring that ethical and unbiased AI is at the core of everything
that we do."
In addition to
accelerating the pace of innovation in RelativityOne and Relativity Trace, Text
IQ's unique approach to AI and ML and its product offerings will expand the
legal and compliance challenges that Relativity can solve for its customers,
like privilege reviews. Conducting privilege reviews can take thousands of
hours and is prone to human error - leaving enterprises open to risk of sharing
privileged information. Text IQ's flagship product reduces the time and cost of
conducting privilege document reviews by up to 75%, and significantly reduces
the associated risk.
"Text IQ's AI
has brought intelligence and automation to a process that was ripe for innovation,"
said Lynn Charytan, Executive Vice President and General Counsel at Comcast
Cable. "Their privilege review solution cuts down a lot of legal expenses while
preventing inadvertent disclosures of privileged data in the discovery
process."
Central to a
legal or compliance team's understanding of any data set are the people
involved and the roles they play. However, gleaning that information from large
amounts of unstructured data is a huge challenge. Text IQ uses NLP, SNA and
other leading techniques to extract complete social networks from unstructured
data through their Socio-Linguistic Hypergraph. This includes relationships
between individuals, how they communicate, and how they communicate differently
with different groups of people. Text IQ finds every trace of a person in a
data set - providing insights impossible to gain through manual review or
supervised review.
Increasingly,
Relativity's customers, which include 198 of the AmLaw 200, use Relativity to
run critical data breach response projects. The integration of Text IQ's AI
into this process will result in a new standard for this type of work.
"The timelines for
breach response are oftentimes more challenging to deal with than anything
you'd see in litigation. A complete response is a substantial manual effort
that's very prone to error," said Rick Lutkus, Partner, Privacy &
Cybersecurity at Seyfarth Shaw. "Text IQ changes that, allowing us to take on
more work and deliver better outcomes for our clients."
Relativity's
global network of partners that provide project-based support and managed
services, including world-class consulting, data management, legal, compliance
and consulting services will greatly benefit from this acquisition. Offering
Text IQ to Relativity's partner community will provide them with an even
stronger AI toolset to deliver more value across the e-discovery lifecycle and
solve a wider array of data challenges for their customers.
"As the first
certified Text IQ partner, we've seen their technology, which uniquely combines
machine learning and social network analysis, drive measurable quality and
consistency on matters," said Julia Hasenzahl, CEO at ProSearch. "As a
company that is always pursuing portfolio level solutions, we are excited about
this acquisition as it sets the stage for Text IQ integration across all client
matters within Relativity."
Text IQ will
continue to offer its core products for privacy, legal and compliance teams as
well as its unconscious bias detector, which is part of Text IQ's AI for Good initiative.