Bank of America had 11 patents in robotics during Q1 2024. The Bank of America Corp has developed a virtual assistant factory to support back office operations within a computing system. This platform allows external applications to access internal services such as banking services and user management services through an application programming interface. The virtual assistant factory can spin up robots, controls, and processes to supplement computing operations and interact with users and back office operations. GlobalData’s report on Bank of America gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Bank of America grant share with robotics as a theme is 54% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Virtual assistant factory computing platform (Patent ID: US20240019856A1)
The patent filed by Bank of America Corp. describes a virtual assistant factory platform that supports back office operations within a computing system. The platform determines the complexity of an action request, instantiates a virtual assistant based on this complexity, and coordinates with multiple computing systems to autonomously perform desired actions. The virtual assistant interacts with users and back office operations, with different levels of assistants being spun up based on the complexity of the action request, ranging from low to high complexity.
The system includes a user device presenting an interface to trigger action requests, with the virtual assistant factory platform determining the complexity of the request and spinning up the appropriate level of virtual assistant to perform the required actions. The platform communicates with the user device via API function calls and can interact with external computing systems. Different levels of virtual assistants are deployed based on the complexity of the action request, ranging from low-level assistants for simple data updates to high-level assistants for complex interactions with external systems. The virtual assistant factory platform streamlines back office operations by automating tasks and coordinating actions across various computing systems.
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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.
