Celonis, a new York-based company offering enterprise software focused on improving operational processes, announced its plans to acquire Ikigai Labs, a company offering an AI-powered solution for decision intelligence. The announcement coincides with the launch of Celonis’ new context model for AI systems.
The Celonis Context Model serves to ensure AI has access to the full scope of a business’s operations. It creates a digital twin and translates processes into a language AI can understand. Ikigai Labs’ technology will incorporate AI-powered planning, simulation and forecasting capabilities into this model.
“AI is only as good as the context it has. Every organization needs to give its Enterprise AI a holistic, living model of how a business truly operates. This has never been possible until now, with the Celonis Context Model,” Carsten Thoma, Celonis’ president, said in a statement. “And with Ikigai Labs, we’re making our market-leading platform even stronger.”
Following the transaction, which is expected to close imminently, Ikigai’s employees will be integrated into Celonis’ workforce. As the Ikigai team had been conducting research with MIT, Celonis will gain exclusive rights to Ikigai’s MIT-owned patents and MIT will become a shareholder in Celonis.
