Bank of America had 31 patents in big data during Q1 2024. Bank of America Corp has filed patents related to energy optimization for cryptocurrency processing, efficient batch data processing in enterprise environments, data analysis using graphical user interface position mapping identification, data analysis using identification tagging on a graphical user interface, and a pattern identification transformer neural network that can learn from small amounts of data. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Bank of America grant share with big data as a theme is 45% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Energy optimization platform for cryptocurrency mining (Patent ID: US20240104460A1)
The patent filed by Bank of America Corp. focuses on energy optimization in cryptocurrency mining. The computing platform described in the patent receives cryptocurrency requests with gas prices and key performance indicators (KPIs), inputs this data into a mining optimization model to determine an energy mix for processing the requests. This energy mix consists of cost-effective energy sources to support a data center processing cryptocurrency requests. The platform then sends commands to the data center to process the cryptocurrency requests using this energy mix, optimizing energy consumption and costs.
Additionally, the patent outlines features such as training the mining optimization model with historical data, updating the model based on user feedback, and identifying accuracy levels to control model updates. Users can also provide energy mix preferences, selecting specific energy sources for processing cryptocurrency requests. The patent emphasizes the importance of energy efficiency and cost-effectiveness in cryptocurrency mining operations, aiming to improve overall sustainability and operational efficiency in data centers.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
