Veritone has patented a computer-implemented method for automated control of electrical power production in a grid. The system uses reinforcement learning to optimize control actions based on projected demand and goals, continuously improving functionality. The method involves generating a model of the system, controlling operations, and updating the model accordingly. GlobalData’s report on Veritone gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Veritone, Dynamic premium pricing was a key innovation area identified from patents. Veritone's grant share as of February 2024 was 46%. Grant share is based on the ratio of number of grants to total number of patents.

Automated control system for electrical power production optimization

Source: United States Patent and Trademark Office (USPTO). Credit: Veritone Inc

A recently granted patent (Publication Number: US11892809B2) discloses a computer-implemented method for controlling the operations of a physical system providing electrical power. The method involves generating a model of the system, including rules, state information, and control actions, to maximize operational efficiency. By using reinforcement learning, the system generates multiple particles representing different state information sets and iteratively determines future state information to satisfy power load requirements. The method includes implementing control actions based on the determined particles and updating the model accordingly to reflect the actions taken.

Furthermore, the patent describes a system comprising hardware processors and memories with stored instructions to implement the automated control system for the physical system. The system receives information on projected power production and load, generates particles representing state information, and determines solutions to meet power demands. By providing information on the solution, the system enables control actions to be taken to ensure the system satisfies the power load requirements. The system's model includes rules, state information, and control actions, with a focus on maximizing operational efficiency and achieving the indicated goal of the system. The method and system outlined in the patent aim to optimize the operations of a physical system providing electrical power through advanced computational techniques and iterative control actions based on generated state information.

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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.