Posted 3/4/2024, 10:58:00 AM
Big Banks Led AI Patent Push Before ChatGPT Boom
- Big banks like Capital One and Bank of America lead in AI patent filings, showing interest in AI before the ChatGPT surge
- Banks file patents to protect IP, make money from licensing, and attract talent
- Capital One filed 300 and Bank of America 272 AI patents in the 12 months ending June 2022
- Patents focus on using AI to improve trading decisions and user experience like chatbots
- Other big patent areas are compliance, fraud detection, and complying with data regulations