Xero has been granted a patent for a method that extracts image and character data from a candidate document, generating separate numerical representations for each. These representations are then combined and compared to an indexed set, allowing for the association of the document with specific attribute values. GlobalData’s report on Xero 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 Xero, Virtual banking assistant was a key innovation area identified from patents. Xero's grant share as of June 2024 was 30%. Grant share is based on the ratio of number of grants to total number of patents.
Method for generating combined image-character numerical representations
The patent US12033415B2 outlines a method and system for processing candidate documents that contain both image and character data. The process begins with the extraction of image and character data from the candidate document. This data is then fed into separate models: an image-based numerical representation generation model and a character-based numerical representation generation model. Each model generates respective numerical representations, which are subsequently combined into a consolidated image-character based numerical representation. The combined representation is compared against an index of similar representations to identify a corresponding document with a specific attribute value, allowing for the association of the candidate document with this attribute.
The claims further detail the technical aspects of the models used, including the use of neural networks, such as depthwise convolutional networks for image data and transformer-based networks for character data. The training of these models employs an objective function designed to maximize similarity metrics, ensuring that documents with common attributes are closely represented. Additionally, the method allows for the association of multiple attribute values, such as entity identifiers and document type indicators. The system is implemented on a computer with processors and memory, and the operations can be stored on a non-transitory computer-readable medium, facilitating automated document processing in various applications, including accounting.
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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.
