Coveo Named a Leader in 2023 Cognitive Search Platform Report by Independent Research Firm

Coveo (TSX:CVO), a leading provider of enterprise AI platforms that enable individualized, connected, and trusted digital experiences at scale with semantic search, AI recommendations, and GenAI answering, today announced that Coveo is a leader in The Forrester Wave^TM: Cognitive Search Platforms, 2023 report.

“We’re very proud that our Composable AI Search and Generative Experience platform is recognized by Forrester as a leader in The Forrester Wave ^TM: Cognitive Search Platforms, Q4 2023 report,” said Laurent Simoneau, Co-founder, President, and CTO at Coveo. “Coveo has been continuously innovating enterprise search for more than 18 years, and AI over the last decade. We believe the worlds of semantic search, discovery, recommendations, generative answering, conversations, chats, and personalization are converging into a new more powerful, unified digital engagement paradigm. We believe that the future is business-to-person and enterprises need AI to power individualized, trusted and connected experiences across every customer and employee interaction, driving superior experiences and business outcomes.”

The report evaluates 14 vendors on 27 criteria by identifying, researching, analyzing, and scoring the most significant accordingly. Coveo scored among the highest scores in the Intelligence and Roadmap criteria. Coveo also received the top score in the Pricing, Flexibility and Transparency criterion.

In the report, it states that “the cognitive search market has seen a surge in interest this past year driven by generative AI (genAI).” The report also states that “cognitive search has an opportunity to enter a golden age with renewed interest from buyers injecting more interest and investment into providers who can radically transform to provide more consumable, comprehensible, and useful knowledge from search.”

The report found that “Coveo's cognitive search platform continues to evolve to incorporate more advanced hybrid search capabilities, building upon its strengths on intent and relevance. Its vision to provide a platform emphasizing support for business users while also increasing the breadth of application integrations with platforms like Salesforce, ServiceNow, and Snowflake will keep the platform competitive.” The report concluded that, “Coveo is a good choice for firms that want powerful automated relevancy tuning along with rich analytics that drive rich search experiences.”

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