IamIP launches first ever AI-based monitoring tool in traditional industry

Stockholm & Cologne

Intellectual property is all around us – it’s the output of innovation which gives us new products and technologies. Global online patent platform IamIP in collaboration with biotech company Sartorius discloses the release of its latest feature the “smart monitoring” tool. The AI-based solution will allow users to save up to 70 percent in time and generate more precise results when searching and monitoring patents.

Intellectual property is an ever changing landscape of innovation. In combination with the globalization of markets and the fragmentation of production value chains, market actors have had to adapt to a new logic to realize their new role within IP policy. The emergence of digital players such as IamIP drives change across markets, streamlines processes and challenges the set ways of how IP management traditionally has operated. The IP management software market is estimated to hit a valuation of $14.37 Billion by 2028. Rapid increase of IoT to drive demand for management software.

In collaboration with multinational biotech company Sartorius, IamIP unveils its latest product, the “Smart Monitoring” tool. The new feature allows users to more easily navigate among millions of patents. The AI-based software sifts through the database and automatically identifies the most relevant documents. It will rank the search result with a binary score of (1 and 0) score relevance. It will also provide the user with an AI-generated confidence score of every result.

Internal studies on the new software showed a 90 percent success rate and effectiveness in locating relevant results, which is an instantly more effective result than a completely manual human search or monitoring. The AI can be fed new information which will make the tool stronger and more effective in its work, by learning from future monitoring project iteration and data.

We’ve been working hard together with Sartorius to offer the new Smart Monitoring product that will make the life of IP professionals much easier. We can confidently say that thanks to this new feature, the complex and time-consuming work of reviewing the new patents captured by the weekly patent monitoring process will drastically be improved with around 70 percent in time savings.

Risk mitigation is significantly improved as the AI model analyzes the whole patent specifications without making any shortcuts, leading to the identification of all relevant patent documents. Our clients can ensure business continuity, as the process is not dependent on one single person anymore, who can get sick or be on vacation. It’s more than an upgrade, it’s a disruption.

Viktor Rudolf, Chief Product Officer & Cofounder of IamIP

In its effort to develop a digital service that is easily accessible and identifies actionable insights on patent information at your fingertips, IamIP has succeeded in optimizing an easy-to-use platform. Everybody is able to work with patents and collaborate to further encourage and drive innovation. The new tool was announced at the annual industry event IP Service World in Munich, and the tool will be widely available in the beginning of 2023.

For over 10 years now, I’ve been a part of this incredible journey of digitizing the IP industry that we know is plagued by complexity with over 3 million new patents filed every year. With the new Smart Monitoring we are building the first AI based brick of the future for the IamIP platform. I’m very proud of reaching a new milestone and really looking forward to the next to come.

Dimitris Giannoccaro, Chief Executive Officer and Co-Founder of IamIP

About IamIP:

IamIP has digitalized one of the last few paper-based and manually handled industries, the complex intellectual property industry. This industry is plagued by complexity with over 3M new patents filed every year (and growing), and an estimated $20Bn+ wasted on double work in R&D in Europe alone.  With the help of the advanced intuitive business tools, companies can easily manage, analyze and visualize patent data in combination with business information (Big Data) and also calculate current and future patent costs in a way that was previously very difficult. The IamIP platform has over 5000 active users which allows for global patent access and monitoring in 80 languages. The effect is a constantly up-to-date and fact-based basis for the companies’ development decisions.

Contact IAMIP:

Brice Kempf, Head of Marketing:

E-post: [email protected]

Web: https://iamip.com/