Benefits of an AI-driven predictive analytics partner

Artificial Intelligence, Intellectual Property Strategy Tags: AI, big data, Predictive Analytics

 

 


Originally posted as a feature on Reuters

How has the influx of big data affected your company? Even for the most established organizations, mismanagement of it can lead to disaster. However, for a typical Fortune 1000 company, just a 10% increase in data accessibility could result in more than $65 million additional net income.

The primary issues facing innovation professionals today are: 1) the explosion of data; 2) keeping up with data security; 3) the growing complexity of protecting intellectual property (IP) rights; 4) finding tools that deliver actionable intelligence and predictive analytics. Disruptive technologies and business models are increasingly threatening even the most well-established organizations. Senior executives at those organizations face the challenges of identifying early threats based on globally-available evidence, communicating them within the organization and then determining effective responses. For early-stage companies, understanding the competitive landscape is crucial for informing commercialization strategies for those same types of disruptive technologies and business models.

IP.com believes rapid, easy-to-use access to highly relevant information enables better decisions. We know that companies need competitive intelligence to influence their own strategic decision-making. Our solutions enable rapid and precise natural language search of massive databases covering patents, technical literature, US litigation data, licensable technologies and more. It is an invaluable tool for C-suite executives and senior-level professionals. Better searches, analytics and industry-leading content allow organizations to make smarter, more cost-effective decisions about their entire innovation lifecycle that result in higher shareholder value.

Analytic tools and workflow processes, applied to patent and non-patent technical literature, are enabling business tasks to be carried out faster and on a larger scale than ever before. This includes identifying competitors and business partners, discovering emerging technologies and identifying potential markets for products and services. Deploying AI that predictably and accurately searches massive amounts of data – possibly in ways that call for changes in workflow processes — will become increasingly more critical to the success of every organization’s lifecycle of innovation.

Organizations that don’t manage and monetize their innovation pipeline effectively, and accurately predict competitive product developments, could find themselves: 1) losing markets to the competition; 2) embroiled in litigation for infringement on another’s idea/IP; 3) investing research and development dollars on unmarketable concepts; 4) ignoring opportunities to increase value from existing IP assets. In the worst-case scenario, organizations that do not actively manage the process of recognizing and anticipating the competitive and potentially disruptive changes around them run the risk of total obsolescence and bankruptcy.

At the rate at which data and our ability to analyze it is growing, businesses of all sizes will be using some form of predictive data analytics in the next five years – IP.com will be at the leading edge of that movement. Can you afford NOT to have an AI predictive analytics partner that can keep your focus on your future?

For more information, please reach out on our contact page.