Synchrony Financial’s patent involves object recognition and tracking using multi-camera machine vision in retail settings. The method captures user images, identifies users, tracks selected items, and processes transactions after users leave the facility. The technology uses machine learning and three-dimensional representations for real-time tracking. GlobalData’s report on Synchrony Financial gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Synchrony Financial, was a key innovation area identified from patents. Synchrony Financial's grant share as of May 2024 was 23%. Grant share is based on the ratio of number of grants to total number of patents.
Object recognition and tracking for automated purchase transactions
A recently granted patent (Publication Number: US12001997B2) outlines a computer-implemented method and system for tracking items within a facility using machine learning and three-dimensional representations. The method involves receiving images from facility cameras, applying a machine-learning model to determine if an item has been selected, associating the item with a user, generating a three-dimensional representation of the item, tracking its movement in real-time, and processing a transaction once the user leaves the facility. The system includes processors and memory to execute these operations, with additional features like modifying representations, using convolutional neural networks, and training the model with sample images.
The patent also covers a non-transitory, computer-readable storage medium storing executable instructions for the same operations, emphasizing the use of machine learning, three-dimensional representations, and real-time tracking to enhance the user experience within a facility. The method and system aim to streamline the selection and transaction process by accurately detecting user interactions with items, even calibrating images for consensus and training the model based on image labels. This innovative approach could revolutionize how facilities manage item selection, user tracking, and transaction processing, potentially leading to more efficient and personalized experiences for users interacting within the facility.
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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.
