Chime Financial’s patent involves utilizing a machine learning model to predict client intent classifications and generate personalized digital text reply options in automated interactive digital text threads. The system extracts client features, applies bonus weights, and provides personalized reply options, improving efficiency and user experience. GlobalData’s report on Chime Financial 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 Chime Financial, Virtual banking assistant was a key innovation area identified from patents. Chime Financial's grant share as of May 2024 was 47%. Grant share is based on the ratio of number of grants to total number of patents.
Personalized digital text reply options using machine learning model
A recently granted patent (Publication Number: US12010075B2) discloses a computer-implemented method for enhancing automated interactive digital text threads. The method involves extracting client features from a client device, identifying a hierarchical intent architecture with multiple intent classifications, generating predicted client intent classifications and probabilities using a machine learning model, applying bonus weights based on hierarchical layers to select intent classifications, and providing personalized digital text reply options to users based on their predicted intent classifications. The system aims to improve user engagement and interaction by offering tailored responses in real-time.
Furthermore, the patent includes provisions for generating digital text responses based on user interactions with personalized reply options, creating additional reply options for further engagement, training the machine learning model using client interactions to refine intent predictions, and utilizing models like random forest or gradient boosted decision trees for classification. The method also involves extracting client features from previous interactions, applying bonus weights based on hierarchical layers, and selecting predicted intent classifications from different layers. This innovative approach to automated text threads aims to streamline communication processes, enhance user experience, and provide more accurate and personalized responses, ultimately improving the efficiency and effectiveness of digital interactions.
To know more about GlobalData’s detailed insights on Chime Financial, buy the report here.
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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.
