The Beholding (a.k.a. The Eye, Ceaseless Watcher) is one of The Entities and is among the chief "characters" of the series. It is the power behind the Magnus Institute, influencing the members and granting them certain powers.
It seems to have been responsible for giving Elias the ability to see and know all things, although he does not do this without great effort.
It is the entity that granted the Head Archivists, currently Jonathan Sims, the ability to ask a question and compel the listener to answer. This power also effects avatars of the other entities as Jude Perry became upset when Sims compelled her. Yet it may have a diminished effect of Elias as he volunteers information on Gertrude's death to Sims, DCI Tonner and the others.
Other characters and avatars, such as Perry, in the world have criticized the Beholding, as an entity of great power that does very little and seems content only with feeding its thirst for knowledge. Perry even states it cannot stop the Desolation from winning and will leave it a burned out blind eye by the end. Although we currently do not know how much influence The Eye is exerting on our world.