MILPITAS, Calif.--(BUSINESS WIRE)--ABBYY, a global leader in Content IQ technologies and solutions, today announced it has opened a regional office in Hong Kong to strengthen its relationships with enterprise-level customers and partners in the market. ABBYY is currently present in most countries in Asia with long-established offices in Taiwan and Japan and through its strong partner network.
The Asian market represents a substantial growth opportunity for ABBYY. According to IDC, the spending on AI systems in Asia-Pacific is expected to reach $5.5 billion in 2019, an almost 80% increase over 2018, and $15.06 billion in 2022. The retail industry and banking are the biggest spenders on AI in the region, with use cases such as fraud analysis and customer-facing process automation enabling self-service and improving customer experience. Intelligent process automation is among the largest areas of investment, and ABBYY Content IQ solutions are well positioned to accelerate these strategies by extracting meaning from structured and unstructured content.
“Our business in Asia-Pacific is growing fast, which drove our decision to be physically present and hands-on in this key region,” said Ulf Persson, CEO of ABBYY. “Asia’s leading entrepreneurial and financial hub, Hong Kong presents a wealth of opportunities and will play a vital role in our APAC strategy as we plan to continue growing by being more involved in the local ecosystem.”
ABBYY has long been active in the Asia-Pacific markets with many successful large-scale implementations in banking and financial services, insurance, telecom, government, and other verticals. ABBYY puts great value on strong partnerships in the region and works closely with large system integrators, such as Fuji Xerox Hong Kong, Nikoyo (HK) Ltd., and Tech Mahindra.
Supporting its expansion in Asia-Pacific, ABBYY will exhibit at The AI Summit Hong Kong, Asia’s largest AI event for business, which will take place at the Hong Kong Convention Center, on August 7-8, 2019. ABBYY Chief Innovation Officer Anthony Macciola will deliver a keynote on Content IQ, while at ABBYY stand, the attendees will be able to learn about the company’s technologies and solutions that enable the digital workforce with necessary skills and understanding to make intelligent business decisions.
ABBYY is a global leader in Content IQ technologies and solutions. ABBYY offers a complete range of AI-based technologies and solutions transforming business documents and content into business value. By providing digital transformation solutions to financial services, insurance, transportation, healthcare, and other industries, the company helps organizations achieve the next wave of growth by understanding customers and delivering responsive real-time intelligent systems. The flexibility of ABBYY AI solutions enables customers to utilize a diverse range of advanced technologies, platforms and solutions for classification, text analytics, data and entity extraction, and data validation via any communication channel and in any format. ABBYY technologies are used and licensed by some of the largest international enterprises and government organizations, as well as SMBs and individuals. The company maintains offices in Australia, Cyprus, France, Germany, Hong Kong, Japan, Russia, Spain, Taiwan, the UK, Ukraine, and the United States. For more information, please visit www.abbyy.com/company.
ABBYY and the ABBYY Logo are either registered trademarks or trademarks of ABBYY Software Ltd. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.