Invest
Capital One stands out with a significant number of AI patents among US banks
Invest
Capital One stands out with a significant number of AI patents among US banks
Capital One has risen to prominence in the US banking sector for its substantial focus on artificial intelligence (AI), holding 967 AI patents.
Capital One stands out with a significant number of AI patents among US banks
Capital One has risen to prominence in the US banking sector for its substantial focus on artificial intelligence (AI), holding 967 AI patents.
This feat positions the financial services company at the forefront of integrating AI technology into banking services, as reported by Stocklytics.com. The bank has not only accumulated a noteworthy portfolio of AI patents but also actively engages in promoting collaboration and knowledge sharing within the AI community.
Edith Reads, a financial analyst with Stocklytics, highlighted Capital One's commitment to innovation. "Capital One's relentless dedication to innovation exemplifies its prolific pursuit of AI patents," she said. Through continuous investments in AI solutions, the company aims to innovate in areas such as customer service, security protocols, and the provision of efficient and personalized banking services.
Globally, Capital One's patent portfolio includes 7752 patents, with 2301 being granted. Of these, over 84% are deemed active, showing the company's ongoing innovation efforts. The United States hosts the majority of these patents, indicating Capital One's concentration on its primary market. Canada and Europe also hold a significant number of the company's patents, reflecting its strategic international presence.
The pursuit of AI innovations is not limited to Capital One alone. Other leading American banks, namely Bank of America with 640 applications and JPMorgan Chase with 274 applications, have invested in AI and AI-related innovations. Interestingly, Capital One and Bank of America together account for more than 60% of all AI patents filed by the top 50 banks in the United States, highlighting the growing importance of AI in the banking industry.
In terms of broader industry trends, North American banks lead in innovation, with JPMorgan and RBC excelling in research and Capital One and Bank of America leading in patent filings. Globally, DBS is acknowledged for its AI leadership.
The influence of a company's patents can often be gauged by the volume of citations they receive, indicative of the technology's significance and applicability by other firms. Within Capital One's portfolio, companies like Mastercard, Bank Of America, IBM, and Vista Outdoor Inc. are among those that have frequently cited its patents. The patent US6477575B1, in particular, stands out, having received 510 citations from various firms, including Google, Impulse Llc, and Flexiworld Technologies.
This trend towards leveraging top-down innovation reflects a shift in the banking sector towards developing services and applications that not only empower customers but also transform the traditional banking model.
Investment insights
Fed doves cheered by soft US jobs data, but inflation concerns linger
Friday's US jobs data brightened the mood among Federal Reserve (Fed) doves, as the nonfarm payrolls (NFP), unemployment rate, and wages all pointed to a slowing labour market in April, according to ...Read more
Investment insights
Fed rate cut expectations in doubt as inflation concerns persist
Investors are bracing for a less-than-cheerful Federal Reserve (Fed) monetary policy decision later today, as the central bank grapples with three straight months of rising inflation, which may force ...Read more
Investment insights
Centuria announces senior internal promotions, strengthening leadership team for new property growth cycle
Centuria Capital Group (ASX: CNI or "Centuria") has strengthened its senior management structure with several internal promotions, effective from Monday, 15 April 2024. The new senior roles are part ...Read more
Investment insights
Institutions and wealth managers favour fixed income over equities, research shows
New research from Managing Partners Group (MPG), the international fund management group, shows professional investors believe fixed income is becoming more attractive than equities over the next 12 ...Read more
Investment insights
Gold prices soar to record high: Two surprising factors fueling the surge
Gold prices have hit a fresh record high, nearing $2,300 an ounce in Thursday trading, and while geopolitical tensions and expectations of interest rate cuts by the US Federal Reserve are commonly ...Read more
Investment insights
Alternative fund managers expect increased fines for regulatory breaches, survey reveals
A new study by Ocorian, a market leader in regulation and compliance services, has revealed that alternative fund managers anticipate a rise in fines for breaking regulations in their sectorsRead more
Investment insights
Institutional investors set to increase allocations to illiquid assets, MPG research reveals
A new study by international asset management company Managing Partners Group (MPG) has found that more than three-quarters (78%) of institutional investors and wealth managers plan to increase their ...Read more
Investment insights
Vanguard reduces management fee for its Australian Government Bond Index ETF
Vanguard Australia has announced a reduction in the management fee for its Vanguard Australian Government Bond Index ETF (ASX:VGB) by four basis points to 0.16% per annum, effective from Monday. Read more
Investment insights
Fed doves cheered by soft US jobs data, but inflation concerns linger
Friday's US jobs data brightened the mood among Federal Reserve (Fed) doves, as the nonfarm payrolls (NFP), unemployment rate, and wages all pointed to a slowing labour market in April, according to ...Read more
Investment insights
Fed rate cut expectations in doubt as inflation concerns persist
Investors are bracing for a less-than-cheerful Federal Reserve (Fed) monetary policy decision later today, as the central bank grapples with three straight months of rising inflation, which may force ...Read more
Investment insights
Centuria announces senior internal promotions, strengthening leadership team for new property growth cycle
Centuria Capital Group (ASX: CNI or "Centuria") has strengthened its senior management structure with several internal promotions, effective from Monday, 15 April 2024. The new senior roles are part ...Read more
Investment insights
Institutions and wealth managers favour fixed income over equities, research shows
New research from Managing Partners Group (MPG), the international fund management group, shows professional investors believe fixed income is becoming more attractive than equities over the next 12 ...Read more
Investment insights
Gold prices soar to record high: Two surprising factors fueling the surge
Gold prices have hit a fresh record high, nearing $2,300 an ounce in Thursday trading, and while geopolitical tensions and expectations of interest rate cuts by the US Federal Reserve are commonly ...Read more
Investment insights
Alternative fund managers expect increased fines for regulatory breaches, survey reveals
A new study by Ocorian, a market leader in regulation and compliance services, has revealed that alternative fund managers anticipate a rise in fines for breaking regulations in their sectorsRead more
Investment insights
Institutional investors set to increase allocations to illiquid assets, MPG research reveals
A new study by international asset management company Managing Partners Group (MPG) has found that more than three-quarters (78%) of institutional investors and wealth managers plan to increase their ...Read more
Investment insights
Vanguard reduces management fee for its Australian Government Bond Index ETF
Vanguard Australia has announced a reduction in the management fee for its Vanguard Australian Government Bond Index ETF (ASX:VGB) by four basis points to 0.16% per annum, effective from Monday. Read more