Role of Artificial Intelligence in Intellectual Property

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Role of Artificial Intelligence in Intellectual
Property For decades AI has been a technology
that can manipulate large volumes of data
efficiently and quickly. It can also help
identify the patterns and speedily analyse the
ideal solution, which can be applied to several
day-to-day scenarios. Moreover, it has been set
to come of age in the era of big data and
real-time decisions, where AI can offer solutions
to old challenges and issues. Lets take, for
instance, traffic management. Londons initial
traffic management system was a manually
operated gas-lit traffic signal that exploded two
months after its introduction. Since the
inauspicious start, a complicated network of road
closures, traffic lights, traffic management,
and pedestrian crossings have served to drive the
complexity of traveling in the city. Now traffic
goes more slowly than ever, so several new
systems are added to manage the system
better. AI can change it. It can instantly gather
information on the traffic volumes, current
blockages, and historical trends to provide the
ideal solution for the traffic in London. It can
do this in real-time, continually managing and
tweaking flow to deliver the best outcome. AI is
the increasingly best technology for
organizations wanting to solve the more
complicated and burdensome data
challenges. Digital retailers are mainly
utilizing AI to forecast electricity demand. Most
mobile networks use AI to manage the increasing
demand for information. We are standing on the
threshold of the new age of AI technology. The
IP industry is another market where AI has a
profound effect. Conventionally, it is powered
by manual searches, paper, and lengthy
decision-making processes. AI can simplify
day-to-day tasks to deliver enhanced insights
from the IP data. Reducing Risk and Enhancing
Efficiency The administrative tasks of the IP are
highly intensive and risky areas of the IP. The
law firms and corporate IP departments might
anytime cover the thousands of individual items
of IP data across several jurisdictions, dealing
with several products. Historically, it has been
a slow procedure and significantly
manual. Hundreds of items of paperwork might be
generated in a different language, each with its
opportunities and challenges. Each data currently
would be checked manually and input in any IP
management system. Naturally enough, this could
result in errors in data processing. Now consider
this across several patents. Opportunities for
mistakes are boundless. Well, IP remains the most
treasured asset for several organizations. A
simple mistake in imputing the renewal data can
risk losing an asset worth millions. Well, it is
worth noticing that the WIPO (World Intellectual
Property Organization) estimates around a quarter
of patent information is wrong. Thus, the risks
are better evident.
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Additionally, the considerable time and cost from
the manual labor indulge in imputing the data.
This activity can be automated, allowing law
firms and IP experts to be dedicated to more
strategic issues. AI Technology is proficient in
processing large sets of data instantly and
accurately. Also, it enables IP experts and law
firms to take up more strategic roles in the
company, getting insights from the data to shape
future company performance while leaving many
ordinary aspects of IP management to the
systems. For more information, please visit
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ficial-intelligence-in-intellectual-property/ Abo
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