AlphaSense has been granted a patent for a method and system that uses machine learning to generate summaries from financial documents. The system receives user queries, identifies relevant documents, extracts key information, and displays a summary on a user interface. GlobalData’s report on AlphaSense gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on AlphaSense, Recommender systems was a key innovation area identified from patents. AlphaSense's grant share as of May 2024 was 44%. Grant share is based on the ratio of number of grants to total number of patents.
Generating summaries from financial documents based on user queries
A recently granted patent (Publication Number: US11989510B1) outlines a system for generating summaries from financial documents using machine learning models. The system involves receiving financial documents associated with publicly traded companies, determining topics using machine learning, and responding to user queries based on these topics. The system then searches for relevant documents, extracts snippets of text related to the user's interest, and generates a summary based on these snippets. The summary, along with identified snippets and document details, is displayed on a user interface for easy access and reference.
Furthermore, the patent includes claims for methods to generate summaries from financial documents, emphasizing the use of machine learning models to identify topics and extract relevant information. The system is designed to enhance user experience by providing concise summaries with complete sentences, natural-language prompts for queries, and utilizing neural networks for topic determination. By incorporating advanced technologies like machine learning and neural networks, the system aims to streamline the process of summarizing financial information, making it more accessible and user-friendly for individuals seeking specific details from a vast database of financial documents.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
