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PatSnap's AI Revolution in IP and R&D: CoPilot's Launch and Its Impact

May 17, 2024

Summary Outline

  • Introduction to PatSnap and CoPilot: Singapore-based PatSnap, known for its global patent search database, launches CoPilot, an AI assistant for IP and R&D professionals.
  • Features and Functions of CoPilot: CoPilot's capabilities in enhancing patent searches, literature reviews, and technical news analysis.
  • Jeffrey Tiong's Insights: CEO Jeffrey Tiong's perspective on CoPilot's role in innovation and PatSnap's journey.
  • Technical Aspects of CoPilot: Deep dive into CoPilot's AI model and its advantages over traditional methods.
  • PatSnap's Growth and Vision: Understanding the growth trajectory of PatSnap and its future in the industry.

Introduction to PatSnap and CoPilot

Picture this: You're an IP professional or a member of an R&D team, buried under heaps of patents and articles, struggling to find that one piece of literature that could be the key to your next big project. Enter PatSnap's new buddy, CoPilot, an AI assistant designed to make your life a tad easier. PatSnap, a company that's been around since 2007, initially started as a global patent search database. It's like the librarian who knows where every book is in a gigantic library, but for patents.

Features and Functions of CoPilot

Now, let's talk about what CoPilot brings to the table. It's not just a fancy search tool. This AI assistant is here to help you sift through patents and non-patent literature at the speed of light. Imagine getting automatic summaries of patent claims or finding out everything you need to know about a new technology without breaking a sweat. CoPilot does that for you. It’s like having a super-smart intern who never sleeps.

Jeffrey Tiong's Insights

Jeffrey Tiong, the big boss at PatSnap, shared some nuggets of wisdom about CoPilot. He mentioned that CoPilot is about removing friction in the innovation process. It's like having a smooth road for your ideas to run on without any speed bumps. Jeffrey started PatSnap with a vision, and it's pretty clear he's sticking to it.

Technical Aspects of CoPilot

For the tech nerds among us, here's where it gets interesting. CoPilot isn't just another AI tool; it's a beast in its own right. It's built on a proprietary Large Language Model (LLM), which means it's trained on a diet of patents, academic papers, technical reports, and the latest company news. This training diet makes CoPilot less likely to hallucinate answers – a common problem with AI models that haven't been fed properly.

PatSnap's Growth and Vision

From a small team of four to a global player in the patent analytics field, PatSnap has come a long way. With more than 10,000 customers in 50 countries, they are no small fry in the industry. Under Jeffrey Tiong's leadership, PatSnap has raised $350 million from investors like SoftBank and Tencent and now boasts more than 1,200 employees​​​​​​.

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