vPhrase Analytics Pvt. Ltd. is an Artificial Intelligence-driven enterprise that provides business intelligence and reporting automation solutions using machine learning and natural language generation technology. Founded in 2015 and headquartered in India, vPhrase has developed a self-service BI platform called Phrazor that provides insights from data in human language. Neerav Parekh is the Founder & CEO at vPhrase. A digital marketer–turned–AI entrepreneur, who wants to use his AI venture to help companies communicate the insights in their data to their people at scale.

In an effort to understand the process, challenges, and the latest trends in AI patents in India, INDIAai reached out Neerav who's startup has granted a patent in AI recently.

The patent we have been granted is called the SYSTEM AND METHOD FOR GENERATING DYNAMIC VISUALIZATIONS AND NARRATIONS OF DIGITAL DATA. The technology that we have built in-house and patented, revolves around the concept of Natural Language Generation. This particular patent is granted for our work in insight automation from structured data in the form of self-explanatory language. Using our vast proprietary NLG libraries, Phrazor provides multilingual support, as it generates insights in various languages. Moreover, we generate charts, graphs and other visuals to support our narrative insights. The system uses advanced AI and Machine Learning to identify key trends and patterns hidden in the data in real-time. This allows the users to get real and important business insights, in an easy-to-understand manner, allowing them to make data-driven business decisions faster.

At the heart of any patent are two alternates: 1. Having a unique idea that has not yet been thought of, and 2. Improving the existing invention by making significant advancements either partially or as a whole. As more and more AI patents get published, it will inspire the next generation of innovators to bring forward unconventional ideas, or have an opportunity to learn from the past patents and apply them in a noteworthy way to the problem at hand. In a way, the patents and inventions of today will further give rise to the advancements in AI innovations of the future.

Importance of patenting your inventions

One of the most important reasons to patent your invention is to safeguard your IP. Over the last few years, a lot of innovative startups have been founded in India. To make sure that your ideas are accepted and acknowledged as your own, you need to get them patented. Apart from providing credibility, it also helps safeguard your invention. It protects the product, design, or process that meets certain specifications according to its originality, practicality, suitability, and utility.

Challenges in the patent filing process

For non-startups, it's a long process, which can take years to translate into meaningful results. Also, most of the inventors have little to no understanding of the process and have even less understanding and skill as to how to draft a patent and respond to the objections raised in the process.

AI patent trends

We are going to see an upward trend with respect to AI patent filing for the next few years. Patents will continue to be filed in almost all the applications of AI since most of these applications are yet to mature as technologies. We are expecting new patents around conventionally hard problems for machines like language (understanding and generation) and vision. Also, industry-specific patents for particular use cases will increase as AI adoption is embraced across the sector.

Join Neerav Parekh, Anand Subhash and Gagandeep Reehal in a power packed fireside chat during the AI Patent Power Hour, where they discuss India's potential & challenges involved to become a leader in filing AI patents.

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