Bank of America had ten patents in quantum computing during Q4 2023. Bank of America Corp filed patents related to utilizing hybrid quantum computing for machine learning tasks, including detecting non-linear data dependencies and optimizing hyperparameters. The patents also involve using quantum computing for training machine learning models to be stable against data drift and for determining transactions eligible for currency transaction report exemptions. Additionally, a system is described for managing edge networks with quantum computing subsystems to enhance security through simulated attacks and configuration selection. GlobalData’s report on Bank of America gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Bank of America grant share with quantum computing as a theme is 30% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Non-linear data dependency detection in machine learning using hybrid quantum computing (Patent ID: US20230401477A1)
The patent filed by Bank of America Corp. describes methods for detecting non-linear data dependencies in machine learning using hybrid quantum computing. The process involves receiving an accuracy metric selection, a data set with data elements, identifying features, reducing the total number of features using quantum annealing based on the accuracy metric, inputting the reduced features into a machine learning model, and outputting results. The patent also includes claims for using natural language processing and understanding to create a chatbot, recommending services/products to users, and three-dimensional image processing.
The patent outlines a method for utilizing hybrid quantum computing to detect non-linear data dependencies in machine learning processes. It involves selecting an accuracy metric, processing data sets with features, reducing features using quantum annealing, inputting them into machine learning models, and generating results. Additionally, the patent includes claims for creating chatbots, recommending services/products to users based on historical preferences, and processing three-dimensional images using similar methods. The system described in the patent combines classical and quantum computing to optimize hyperparameters efficiently for machine learning models.
To know more about GlobalData’s detailed insights on Bank of America, buy the report here.
Data 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, 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.
