Bank of America. has filed a patent for a system utilizing machine learning to predict future resource usage in a computational subsystem. The system can adjust resource capacity based on predicted increases in usage, allowing for efficient resource management. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Bank of America, Virtual banking assistant was a key innovation area identified from patents. Bank of America's grant share as of January 2024 was 87%. Grant share is based on the ratio of number of grants to total number of patents.

Predicting resource usage increase and adjusting capacity accordingly

Source: United States Patent and Trademark Office (USPTO). Credit: Bank of America Corp

The patent application (Publication Number: US20240036933A1) describes a system that includes a first subsystem with a computational resource and a database storing training data. The system utilizes a machine learning algorithm to predict resource usage increases based on historical data and events, allowing for proactive capacity adjustments before future time periods. The system can detect events, predict resource usage changes, and adjust computational resource capacities accordingly. Additionally, the system can predict resource usage for multiple applications sharing the same computational resource and send alerts to notify applications of expected increases in resource usage.

Furthermore, the system can adjust resource capacities based on predicted combined future resource usage for multiple applications, ensuring optimal resource allocation. The patent application also covers scenarios where a second subsystem with a separate computational resource is involved, allowing for similar predictive and capacity adjustment processes. The system aims to enhance resource management efficiency by leveraging machine learning algorithms to anticipate resource usage changes and optimize resource allocation across different applications and subsystems. Overall, the patent application outlines a comprehensive system for intelligent resource management based on predictive analytics and proactive capacity adjustments.

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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.