GBT’s AI Driven Financial Technology Patent Application Received a Notice of Publication

Rhea-AI Summary

GBT Technologies Inc. (OTC PINK: GTCH) announced its financial software patent application for an AI-driven credit card consolidation system, published on October 20, 2022. The system automates credit card management by prioritizing usage based on factors like interest rates and rewards. Aimed at enhancing financial decisions, the patent seeks to protect this innovative technology, which relies on GBT’s database management methods and machine learning. The company plans further research and development but warns that success depends on securing capital and partnerships.

Positive

• The patent application published protects an innovative AI credit card consolidation system.
• The system aims to automate management based on user preferences, potentially increasing user efficiency.
• Future research and development efforts are planned in the financial technology sector.

Negative

• There is no guarantee of successful patent approval or system implementation.
• The company must raise adequate capital to support research and development.
• Entering strategic partnerships for marketing and distribution is uncertain.

The patent application seeks to protect AI empowered technology for secured credit cards consolidation system

SAN DIEGO, Nov. 03, 2022 (GLOBE NEWSWIRE) -- GBT Technologies Inc. (OTC PINK: GTCH) ("GBT” or the “Company”) received a notice of publication for its financial software patent application. The patent application seeks to protect a secured, AI driven, credit card consolidation and management system and method. The patent was filed on January 26, 2022 and assigned serial number 17584427. The application was published on October 20, 2022, as U.S. Patent Application Publication No. 2022/0335519. The invention consists of a web and mobile application that are based on GBT’s patented database management method and is machine learning driven. The IP includes a computer program that automatically characterizes and prioritizes the consolidation of different credit cards into one card, creating one large line of credit. An AI engine monitors and manages the credit card’s usage factors like line of credit, interest rate, benefits and reward programs. The protected software application combines all user’s credits cards accounts into one credit account, automatically assigning transactions to the best credit card according to its characteristics. The technology is based on GBT’s patented database sharing method with the goal of enabling high performance and robust cybersecurity. When a transaction is requested, the system will consider such factors as lowest interest rates, membership fees, cash advances, line of credit, gift certificates, and other reward programs. GBT targets the system to be an efficient financial assistant for individuals and businesses, ensuring best financial transactions using credit lines. The Company plans to expand its research and development efforts in this domain in the future.

“In today’s credit world there are numerous credit cards choices, each offers different interest rate, benefits, and wide variety of rewarding programs. It can become a challenge to decide which credit card to use to make a wise financial decision regarding line of credit, lowest interest rate and other benefits. The patent application seeks to protect an invention described as an AI controlled, credit card management system that automatically assists users with their credit card transaction decisions. The invention prioritizes the usage of user’s credit cards according to their characteristics. It learns about the card’s features and ranks them according to their financial attributes including available credit, interest rate and reward programs. Then it selects the best card to be used according to its rank, ensuring the user’s best financial interest. The system consolidates all user’s credit accounts into one line of credit and utilizes its AI algorithms to decide which one is to be used according to its best traits. GBT’s Artificial Intelligence technology is aimed to be used to empower the entire system and is working with GBT’s patented database management technology to ensure fast performance and robust security. The non-provisional patent application seeks to protect the concept of an intelligent line of credit management system to help users make the most beneficial decisions with their lines of credits. We consider this patent an exciting opportunity to implement our technology within the financial realm and intend to further explore its possibilities in the near future” stated Danny Rittman, GBT’s CTO.

There is no guarantee that the Company will be successful in researching, developing or implementing this system or that it will be granted the patent (or prior provisional patent). In order to successfully implement this system, the Company will need to raise adequate capital to support its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.

About Us

GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission is to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super-performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

Contact:
Dr. Danny Rittman, CTO
press@gopherprotocol.com

FAQ

What is GTCH's newly patented technology about?

GTCH's new patent application focuses on an AI-driven credit card consolidation and management system.

When was the patent application for GTCH published?

The patent application was published on October 20, 2022.

What does the AI credit card system aim to improve?

It aims to enhance financial decision-making by prioritizing credit card usage based on interest rates and rewards.

What challenges does GTCH face regarding its patent application?

GTCH faces challenges such as securing capital for development and forming strategic partnerships.

What critical steps must GTCH take to implement the AI system?

GTCH needs to raise capital, successfully develop the system, and establish partnerships for distribution.