Auddia Announces Issuance of Core AI Patent
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Insights
The granting of U.S. Patent 11,935,520 to Auddia Inc. signifies a notable event in terms of intellectual property (IP) protection and competitive advantage in the tech sector. This patent for their core AI technology used in the faidr app is a strategic asset that could deter competitors from entering the market with similar ad-free AM/FM radio technology. IP rights can provide a temporary monopoly, allowing Auddia to potentially capitalize on their innovation by offering unique services that are legally protected from direct imitation.
However, the actual impact on Auddia's business will depend on how effectively they leverage this patent. The ability to enforce the patent against potential infringers, the breadth of the patent claims and the ease with which competitors can design around the patent are critical factors. Additionally, the conversion of their provisional patent application into a non-provisional one indicates a commitment to further secure their technological advancements, which could enhance their IP portfolio and attract investor interest.
The development of new machine learning algorithms to optimize prompts for large language models (LLMs) and the creation of new GPTs with industry-specific domain expertise could position Auddia at the forefront of innovation in the audio content industry. This move is likely to resonate well with both B2B and B2C segments, as there is a growing demand for tailored and efficient AI solutions in content creation and consumption.
From a market perspective, the ability to offer ad-free experiences and enhanced LLM interactions could be a significant differentiator. It's important to monitor how this technology will be adopted by users and how it will translate into revenue growth. The stock market typically reacts to such innovations with optimism, provided they come with a clear path to monetization. The market will also be looking at how Auddia plans to integrate these technologies into their existing products and whether they will be able to create new revenue streams.
The announcement of a new patent and advancements in AI technology can impact Auddia's financial position through potential licensing deals, strategic partnerships, or enhanced product offerings leading to increased subscriber growth. Investors should look for signs of how these patents will contribute to the company's revenue model, including any plans for monetization and the anticipated timeline for market introduction.
While patents can provide a competitive edge, the costs associated with R&D, patent filing and maintenance, as well as potential litigation to defend IP rights, should be factored into the financial analysis. It will be essential to assess Auddia's balance sheet and cash flow statements in subsequent quarters to gauge the financial impact of these technological developments. Shareholder value could increase if the patented technology leads to a substantial market share, but this is contingent on successful execution and market acceptance.
U.S. Patent 11,935,520 titled ‘Identifying Shifts in Audio Content Via Machine Learning’ supports the core AM/FM AI model used within faidr
Company advances its patent application for using AI prompts to interface with large language models (LLMs) to a non-provisional application
BOULDER, CO, April 08, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Auddia Inc. (NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, today announced the U.S. Patent and Trademark Office (USPTO) awarded Auddia with U.S. Patent 11,935,520 for the core AI technology Auddia uses in its flagship faidr app to deliver ad-free AM/FM radio stations to paid subscribers.
“Although we have believed we were leading the AI space with important and patentable technology when we began the process of training our algorithm to deliver a premium ad-free AM/FM listening experience, there is a big difference between filing a patent application and having the application approved,” said Jeff Thramann, Executive Chairman of Auddia. “Issuance of this patent validates our innovation and secures our AI for Audio technology as a proprietary platform we look forward to building upon to drive new innovations in support of additional industry first premium audio listening experiences.”
In addition to issuance of Patent 11,935,520, the Company has taken the next step in advancing the provisional patent application it filed last year related to leveraging AI to improve large language model (LLM) prompts and the domain specific knowledge of proprietary GPTs. In February of 2024, the Company converted the previously filed provisional application to a non-provisional application. This conversion initiates the process for the patent office to review the application as the next step in pursuing patent protection.
As the Company highlighted last year when filing the provisional application, the non-provisional patent application introduces two significant improvements to the LLM space. First, the proposed patent claims cover the development of new machine learning algorithms that use the rich data inherent in chat conversations to learn how to optimize prompts to more efficiently extract the best results from LLMs. Second, the patent covers capturing the AI generated prompt improvements and the enriched outputs of the LLMs to create new GPTs with industry specific domain expertise. Auddia intends to use this technology to create focused domain specific language models to introduce new B2B and B2C audio experiences.
“As the technology landscape continues to accelerate, we continue to evaluate new technologies to determine how we can use them to introduce unique capabilities and experiences for creators and consumers within the audio space,” said Michael Lawless, Auddia CEO. “We look forward to continued validation from the USPTO as we continue to innovate and invent.”
About Auddia Inc.
Auddia, through its proprietary AI platforms for audio, is reinventing how consumers engage with AM/FM radio, podcasts, music, and other audio content. Auddia’s flagship audio superapp, called faidr, brings three industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station; podcasts with interactive digital feeds that support deeper stories and create new revenue streams for podcasters; and a proprietary chat interface for music. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. All differentiated offerings address large and rapidly growing audiences.
For more information visit: www.auddia.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
ksmith@pcgadvisory.com
www.pcgadvisory.com
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