CASE STUDY: FORTUNE 50 SOFTWARE COMPANY
For years, a Fortune 50 software company came up with multiple technologies and patented them. Since it had more technologies than it could keep track of, it had very little idea about the nature and details of each one. So, the company needed to find a way to organize the patents and determine the areas each one dealt with. Needless to say, a company of this size was using a product available in the market to sort through the patents but wasn’t satisfied with its accuracy and the time taken to complete the task. It needed something that would fetch the desired results within a shorter period.
Having heard about Relecura’s AI capabilities to handle patent intelligence, the IP Research and Analysis management team showed an interest in learning more about Relecura’s products. After a walk-through of the company tools, they decided to use an AI feature within the Relecura platform to sort through the patents, study, and categorize them.
Reading and sorting through thousands of patents would have consumed a great deal of time and energy, calling into question the accuracy of the task. But using Relecura’s AI feature helped arrange the patents hierarchically and took only a couple of hours! This left the management team with more time to handle other strategic tasks. The patent categorization process helped them in the following ways:
- Be aware of all the technologies the company owns and the purpose they serve.
- Determine the strengths and challenges of the technologies owned.
- Deep-dive into competitor technologies and find out whether they’re forging ahead or lagging behind.
- Figure out which market technologies showed promise versus those that weren’t making much progress.
- Find out which areas might flourish with the support of new technology.
- Come up with a plan of action for R&D and pave the way for greater capture of the technology market share.
Relecura’s products use AI and ML, which enables them to function with greater precision. Additionally, its repository of functionalities is built to handle end-to-end patent intelligence that stakeholders need to move ahead and achieve success in their businesses.
If we consider this company in particular, the classification of patents used an AI feature of the Relecura platform to automatically arrange them in a few minutes. Therefore, it’s safe to say that the product is much faster and more dependable than the one it had been using earlier. Besides being accurate and automated, it’s intuitive and affordable. The feature is unique and a first for the patent industry, thanks to Relecura.