PatSnap, a Singapore-based intellectual property data and analytics provider, recently closed a series C funding round of $300 million. The funding was done to enhance its artificial intelligence-based patent search technology, a valuable asset to companies looking for the right patent for their invention.
This article lets us understand the advantages of using PatSnap’s AI technology for patent search.
PatSnap raises $300m to boost patent search with AI
PatSnap is an intelligent search platform that enables users to quickly discover and analyze patent information, helping them stay ahead of the competition. Using a combination of AI technology, advanced searching capabilities and comprehensive patent datasets from all over the world, PatSnap gives researchers, innovators and product leaders a comprehensive overview of patents so that they can develop strategies for success.
The unique AI component of PatSnap rapidly scans and extracts essential data points from millions of patents at great speed and accuracy. PatSnap’s AI incorporates deep learning models to recognize relevant patent information such as specification text or drawings. This process reduces the time it takes to research technical IP concepts by eliminating irrelevant results. In addition, with millions of documents in multiple languages, users can easily pinpoint potentially relevant patents inline with their goals.
Once the desired patent entities have been identified through AI or advanced searching capabilities, powerful analytics give users unprecedented competitive intelligence insights into valuable markets, competitors and technologies. Users can even access predictive analytics that provide guidelines on future market performance with unprecedented accuracy— allowing businesses to make informed decisions on their next move in their industry.
Benefits of PatSnap’s AI technology
PatSnap uses advanced artificial intelligence (AI) to help streamline your patent search and make it more accurate. Using AI tools to analyze past patent data, our system can predict future developments in a certain area or new inventions. This helps you identify areas most likely to be patented shortly, and provides insights into findings related to existing technologies.
In addition, PatSnap’s AI technology provides users with abundant information about related patents, including detailed market insights, patent portfolios and applications of patents. As a result, PatSnap can find similar patents and papers quickly, so users can save time by avoiding manual verification when analyzing documents. Furthermore, the AI technology used by PatSnap helps identify the most relevant keywords to use when searching for specific patents. This helps you refine your search results to be more accurate and relevant.
PatSnap’s AI technology is extremely useful when searching for patent-related documents. It helps you find the right patent efficiently by eliminating manual errors and providing useful insights into market trends or areas where new inventions may be patented soon. As a result of this technology’s superior accuracy and speed, you can speed up your research process dramatically.
PatSnap’s AI technology
PatSnap, a leading patent search and analytics platform, has recently announced raising $300 million to grow its already-extensive patent search capabilities. In addition, the capital raise will enable PatSnap to leverage its Artificial Intelligence technology to further improve the accuracy, speed and efficiency of its patent search and analysis services.
This article will discuss how PatSnap’s AI technology can help you find the right patent.
AI-driven patent search engine
PatSnap’s AI-driven patent search engine is designed for finding the perfect patents. This search engine is powered by artificial intelligence and automated innovation utilizing machine-learning algorithms and natural language processing. PatSnap’s AI technology improves the user experience by making patent research easier, faster, and more accurate. In addition, the platform utilizes contextual analytics to uncover trends, signals and patterns in data to offer users highly predictive insights about their patenting activities or industry landscape.
PatSnap’s search engine uses image recognition to analyze diagrams, sketches, designs or logos from any source. In addition, their advanced semantic search technology can detect abstract concepts including objects, processes, or items of importance in a given invention; all without requiring specific keywords or phrases. With this unprecedented capability, users can access hundreds of millions of patents worldwide while spending significantly less time researching.
Using patented analytics models like Inventor Impact, Prior Art Finder Plus (PAF+) and Semantic SearchMatch (SSM), PatSnap helps inventors make better decisions on their innovations quicker than ever. Additionally, their advanced analysis tools provide trend analysis and prediction insights that are unparalleled regarding new developments in the industry. Finally, with AI-assisted data extraction services, PatSnap allows customers to download critical patent discovery results in minutes rather than months; enabling customers to cut costs dramatically while arming teams with sharp information from corners of the industry that were previously inaccessible.
AI-powered patent analytics
PatSnap’s AI platform provides patent analytics and innovation intelligence capabilities to companies of all sizes. By leveraging Big Data and AI-inspired algorithms, PatSnap allows users to identify potential commercial opportunities, defend their patent portfolios, predict new inventions, and optimize their strategies. In addition, with PatSnap’s vast database of global patents and non-patent literature sources, users can conduct sophisticated searches quickly and accurately.
The results from a search query can be filtered based on several criteria including inventor name, patent filing date, IPC classifications, or intersection searches focused on specific technical characteristics or technology trends. Once intelligent analytical signals are highlighted within the filtered dataset to help users better understand the landscape for that sector – this allows for strategic decisions around competing technologies, infringingPatents or new invention forecasting.
Further AI-powered patent analytics can include:
- Legal validity analysis which assesses novelty factors including existence antecedents disclosed in published documents.
- Influencer identification which allow IP based recommendations on potential experts.
- Visualization insights which provide immediate views of large databases.
- Trend mapping that analyses emergent areas & related parties analysis that helps identify key players in the respective technology domain.
PatSnap can also provide forward-looking assessments such as improvement forecasting, which provides unique insights into new inventive steps emerging in the markets with current developments. All this valuable information helps provide an insight into any sectors intellectual property landscape allowing informed decisions surrounding investment into further R&D in terms of time and money better spent.
AI-based patent portfolio analysis
PatSnap’s AI-based patent portfolio analysis helps you quickly analyze your competitive landscape and potential blockbuster patents to make informed decisions. Using natural language processing (NLP) algorithms and deep learning technology, the solution can process patent documents quickly and accurately with up to 95% accuracy.
It provides an efficient way to identify, compare and analyze patents by considering various parameters like IPright scope, citation trends, inventor pattern, co-citation trends, related themes, geographic coverage and legal status of the patent. You can also use it to get real-time insights to develop product market opportunities or manage risk.
Moreover, you can use the information gathered by PatSnap within your patent analytics platform to create detailed reports that inform decision making process efficiently. Furthermore, its inbuilt APIs allow seamless integration with other systems like enterprise resource management (ERP) solutions or online tools for searching & analyzing IPs. This saves time as it eliminates manual steps in tracking patents and gathering visual reports from disparate sources. All this helps organizations stay ahead of their competitors and make more informed decisions about their intellectual property assets.
PatSnap’s Funding
PatSnap, a leading patent search and analysis solutions provider, recently secured $300m in funding to boost its AI-based patent search capabilities. This significant investment shows the increasing need for effective patent search solutions, and PatSnap’s ability to provide a powerful platform to help innovators and creators protect their inventions.
Let’s examine how PatSnap’s AI technology can help you find the right patent.
Overview of PatSnap’s $300m funding
PatSnap, an AI-powered patent analytics platform, recently announced that it has secured $300 million in Series C funding. This brings its total funding to over $400 million — one of the world’s highest amounts among tech startups.
The news of this investment came after PatSnap was awarded the Deloitte Technology Fast 50 award for the third year. It is now recognized as a leader in delivering intelligent patent discovery and analytics solutions to global companies.
This funding will be used to support PatSnap’s product development — creating more efficient and innovative ways to help businesses accurately determine their patent strategies. It will also drive expansion into Asian markets and enable other exciting growth initiatives across its international business.
The Global Head of Patents at Airbus, Sébastien Guillobet said: “We chose PatSnap for patent monitoring because we trust that its AI technology can help us make faster and better informed decisions about our future strategies when it comes to protecting our innovation assets.”
This important milestone follows from an incredibly strong 2020 for PatSnap, during which it achieved record levels of customer growth and revenue generation.
How the funding will be used to boost AI technology
PatSnap, a leading AI-enabled technology platform for intellectual property and innovation, has secured $10 million in a series B funding round led by Revolution’s Rise of the Rest Seed Fund. Other investors included OS Fund, THRILL VENTURES and Ebsil Ventures.
PatSnap will invest to further develop its artificial intelligence technology and expand its IP monetization capabilities. The company will also focus on customer-centric solutions such as granting access to private knowledge networks and helping institutions to reduce costs associated with patent research and development.
The artificial intelligence platform uses machine learning algorithms to instantly detect links between patents and other forms of intellectual property protection. As a result, PatSnap’s technology can help researchers, product developers, corporate strategists, legal professionals and business executives identify useful potential resources in different iterations of their product or service concept quickly and accurately.
By leveraging text analytics techniques such as natural language processing (NLP), semantic analysis, benchmarking analysis, and recommended solutions from artificial neural networks (ANNs), PatSnap provides verified data relevant to an organization’s needs in no time at all. In addition, with PatSnap users have an up-to-date overview of comprehensive statistics for market trends worldwide including competitive parameters such as pricing strategies or litigation risks associated with certain industries or areas of expertise.
Use Cases
PatSnap’s AI technology can help businesses of all sizes streamline their patent search process by helping them to more quickly and accurately identify prior art that can provide valuable insights into their markets. The technology is also used to look at competitive trends, identify gaps in current and prior art, and aid in the legal process of filing patents.
This article will explore some of the use cases of PatSnap’s AI technology.
AI-driven patent search engine
PatSnap is a leading provider of AI-driven patent search tools. Our proprietary AI technology combines natural language processing and machine learning algorithms to enable a more effective, efficient and accurate patent search. This powerful combination of technology helps corporations and inventors to find the patents they need quickly and easily, saving them time and money while reducing their risk of failing to identify relevant prior art.
With PatSnap’s AI-driven patent search engine, you can efficiently identify existing and upcoming patents within a specified domain. You can also select specific criteria such as filing, grant or application date; inventor’s name; country or region; international classification such as IPHC or CPC; IPC subclasses or keywords list including additional information such as dependencies or successors.
You can easily create a detailed historical comparison report by using our one-click feature which allows you to compare the full set of similarity metrics within any given product portfolio with other similar products available on the market at any given time. This report will provide you with all the insights you need for a more effective decision making process when selecting future patents for your portfolio and when assessing potential competitors’ inventions. Furthermore, our AI algorithms are constantly re-trained based on user feedback allowing us to increase our accuracy levels when providing results for search queries across any scientific field from electronics to chemistry in almost real time.
AI-powered patent analytics
PatSnap’s AI-powered patent analytics uses machine learning algorithms to perform in-depth analysis of patent data. This means you can easily learn more about patents in a fraction of the time it would take you to manually search through large amounts of patent information.
Our AI technology can automatically generate insights, identify trends and highlight potential risks associated with patents. It can also provide a reliable indicator of technology adoption and be used in strategic patent mapping to help you better understand complex innovation landscapes. As an advanced form of data analytics, AI-powered patent analysis is becoming increasingly popular as companies look for ways to increase their productivity and accelerate the success of their products.
Using the power of AI, PatSnap’s patent analytics helps you uncover valuable insights from large datasets quickly and easily. Our sophisticated algorithms are designed to narrow your search by filtering through millions of patents with precision and accuracy, allowing you to gain a deeper understanding of competitors’ strategies or plan for growth possibilities in the future. Additionally, with fast turnaround times and comprehensive reports generated directly from our platform, finding the right patent for your needs has never been easier!
AI-based patent portfolio analysis
An AI-based patent portfolio analysis can provide an efficient and accurate method for identifying opportunities for tactical IP management. When a company evaluates a large body of prior art, it can create a basis for making better decisions about the patent process.
PatSnap’s advanced AI-based patent portfolio analysis technology quickly identifies the most relevant patents among millions of documents, reducing this process to mere hours compared to the days or weeks normally associated with manual searches. Its search engine can assess thousands of parameters including citations, classes, inventors and assignees to produce highly reliable results at scale.
In addition to identify potential opportunities, PatSnap allows you to export your results into custom dashboards so that you’re able to monitor and analyze changes within your portfolio over time. This provides much needed visibility and control into your patent strategy so that it aligns more closely with company objectives.
Conclusion
In conclusion, PatSnap has found a way to leverage the power of AI to improve patent search. With its new funding, the company will be able to focus on making this technology more accessible to innovators, helping them quickly find the right patent and develop their products faster.
PatSnap’s AI technology can help businesses save time, money, and effort by bringing more accuracy and speed to their patent searches.
Summary of PatSnap’s AI technology
PatSnap’s intelligent patent search technology uses Artificial Intelligence (AI) to understand and respond to users’ natural language queries in context. Powered by proprietary Deep Learning algorithms, it understands a wide range of patent terminology and can quickly help you find the most relevant patents.
PatSnap’s AI technology is a powerful tool for innovation teams, offering multiple benefits that save time and energy on tasks such as pre-grant searches, market trend analysis, infringement viability studies, and more.
When using PatSnap AI, you can quickly narrow your search results to the most relevant hits based on the patents’ technology-related features. This can drastically reduce your workload when compared to more manual approaches. Additionally, PatSnap provides various analysis tools that provide insights into patent portfolios, helping you make informed decisions around IP acquisition or expanding your portfolio – quickly and easily.
Benefits of using PatSnap for patent search
PatSnap is an innovative AI-enabled patent search and analysis platform that gives you the power and speed to find the right patent and get insights into the market landscape. Combining AI algorithms and a large database, PatSnap allows you to quickly identify relevant patents, unlock insights on key patents holders, industry trends, see how your products differ from other competing products, access competitor portfolios – all in a single database.
Using PatSnap has many benefits that streamline your investigation process and simplify finding the right patent. With PatSnap’s AI-powered Patent Search tool, you can:
– Quickly identify relevant patents based on text similarity and patents structure: The advanced algorithm of PatSnap quickly identifies documents related to technologies or products of interest by analyzing all facts of relevance within the patent document, such as text similarity between documents in the search results; document structure; keywords recognition; classification codes; references within documents including queries from multiple keyword set combinations.
– Understand industry trends with alerting technology: Monitor for recently filed patents around your product or technology of interest with alerting capabilities for staying up-to-date on activity in specific jurisdictions or geographies as well as track competitors’ portfolios over time to find opportunities in new markets.
– Unlock valuable insights by exploring cost decision factors: Present graphical analytics to easily recognize filing patterns which could help assess cost decisions to provide comprehensive coverage or better prioritize resources. Automatically generate detailed reports which help reveal key trends in technology leaders’ filing strategies.
PatSnap harnesses AI technology to help make finding the right patent simple and efficient for businesses looking to develop better products faster than ever.
