The perspective of startups: How are they using AI Algorithms to solve problems?
Can AI help to predict the future?
Part II: The perspective of startups: How are they using AI Algorithms to solve problems?
Dr. Tim Pohlmann, CEO and Founder, IPlytics GmbH, a young startup founded in Berlin in 2012 gave a talk about AI Algorithms to Predict the Value of Patents and focused on the problem of information overflow with an example:
We have around 500,000 patents being filed worldwide per month, 50,000 patent trades per month, 450,000 worldwide literature on patents, 10,000 worldwide ISO standards per month. He focused on how the solution lies in automatically deriving actionable insights from disparate information.
“Collection of patent data is important but it needs to be connected into the ecosystem and that is why the IPlytics platform combines the data sources to feed an agnostic innovation graph which comprises 90 million patent documents, 3 million company profiles, 1 million startup profiles, 2 million standards documents, 60 million scientific articles, 1.5 million standard contributions.”
„Collection of patent data is important but it needs to be connected into the ecosystem (…).“
Dr. Tim Pohlmann
He ended his talk by saying that humans have valuable domain knowledge but not the ability to search a million of documents in a few hours. AI algorithms make use of human input to predict an outcome as close to a human’s intelligent decision as possible.
IPlytics is an innovative market intelligence company headed up by a team of economists, computer scientists and engineers and an online-based market intelligence tool (IPlytics Platform) to analyze technology trends, market developments and a company’s competitive position.
Read more about AI Tech Foresight in Part III: What do corporates feel about innovation in AI?