SEOUL, April 6 (Yonhap) — LG Innotek Co., a major electronics parts maker in South Korea, said Tuesday it has established an artificial intelligence (AI) powered patent search and analysis system to beef up its research and development (R&D) efforts.
With its deep learning technology, the affiliate of LG Electronics Co. said the system leverages sentence recognition algorithms which it developed with LG AI Research, an AI technology research hub for LG Group. Its solution can execute real-time analysis of context and texts to extract patent information needed by the company.
LG Innotek said the system can process 50,000 pieces of patent data in four hours, which is about 900 times faster than humans can.
Usually, a company’s patent search tool is used to collect information to check whether its new products infringe existing patents or can be built upon with available patents.
But with its system, LG Innotek said it can now draw up long-term R&D plans more easily. The company plans to expand the use of the system in other areas, such as marketing, product planning and human resources.
“We can now better recognize technology trends as the system can analyze 3 million patents granted annually worldwide,” the company said. “We will be able to better elaborate and categorize patents in our product development plans.”