Bank of America had six patents in edge computing during Q4 2023. The Bank of America Corp filed patents in Q4 2023 related to reducing storage demands and enhancing security in a centralized database, utilizing edge computing devices and hashing algorithms. Another patent involves using AI to integrate third-party software into enterprise environments for rigorous testing. Additionally, a patent focuses on generating holographic structures based on customer interactions stored in a database, utilizing edge devices and representative devices for communication sessions. GlobalData’s report on Bank of America gives a 360-degreee view of the company including its patenting strategy. Buy the report here.

Bank of America grant share with edge computing as a theme is 33% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.

Recent Patents

Application: Document retention and generation at the edge (Patent ID: US20230421605A1)

The patent filed by Bank of America Corp. describes methods and systems for reducing storage demands at a centralized database and enhancing security by reducing the probability of interception and man-in-the-middle attacks. The method involves obtaining a document at an edge computing device, storing it, executing a hashing algorithm to generate a hash-value corresponding to the document, transmitting the hash-value to the centralized database over a low bandwidth communication line, and storing the hash-value at the database. This approach allows for a condensed representation of the document to be stored, reducing storage requirements and enhancing security.

The system includes a processor to assign an identifier to the document, an edge computing device to obtain and store the document along with the identifier, a centralized data repository to store the identifier, and a communication line between the edge device and the database. The processor on the edge device executes a hashing algorithm, outputs a hash-value, associates it with the document, and links a pointer to the hash-value. This pointer points to the memory address where the document is stored, facilitating efficient data transmission. By reducing the probability of security compromises and optimizing storage demands, this method and system offer a secure and efficient approach to managing documents in a network environment.

To know more about GlobalData’s detailed insights on Bank of America, buy the report here.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

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.