Trust Stamp announces the allowance of a new patent taking its portfolio of 20 Allowed and Issued AI-powered patents into data protection applications
Trust Stamp (Nasdaq: IDAI) announced that the company received a notice of allowance from the US Patent and Trademark Office for a new patent concerning an AI-powered personal identifiable information encoder. This new patent, #17/719,975, adds to their substantial intellectual property portfolio, now consisting of 20 allowed and issued patents, with another 13 patents provisional or pending. Gareth N. Genner, the CEO, highlighted that while their patents initially focused on privacy-first identity solutions using biometric data, they now have broader applications demonstrated by recent partnerships in diverse market sectors. This patent aims to enhance security against cyber-attacks and improve privacy protection by tokenizing personal data, aligning with privacy legislation like GDPR.
- Trust Stamp has received allowance for a new AI-powered personal identifiable information encoder patent (#17/719,975).
- The company's intellectual property portfolio now includes 20 allowed and issued patents and 13 provisional or pending patents.
- Recent partnerships in diverse market segments indicate the broad applicability of Trust Stamp's patents.
- The new patent could enhance security against cyber-attacks and improve privacy protection, which is significant for compliance with privacy laws like GDPR.
- The announcement does not specify any immediate financial gain or market impact from the new patent.
- No concrete details were provided about specific implementations or timelines for the new patent.
- The focus on expanding patent portfolios may divert resources from revenue-generating activities.
Insights
Trust Stamp's new patent in AI-powered personal identifiable information (PII) encoding is noteworthy for several reasons. Firstly, it enhances the company's technological capabilities in data protection, a sector that is rapidly becoming critical in the digital age. Data breaches and cyber-attacks are increasingly common, making advanced solutions crucial. The new patent could set Trust Stamp apart by offering a unique approach to safeguarding PII through tokenization, which replaces sensitive data with non-sensitive equivalents.
The company's focus on privacy-first solutions aligns well with current global movements toward stricter data privacy regulations, like GDPR. This strategic alignment can position Trust Stamp favorably in the market, as businesses and organizations seek compliant and secure data management solutions.
However, patents alone do not guarantee market success. The implementation and commercial application of these technologies will be vital. Investors should watch for announcements regarding partnerships, product launches and revenue impacts linked to this patent.
This patent allowance is a strong indicator of Trust Stamp’s ongoing innovation and commitment to expanding its intellectual property portfolio. With 20 patents already allowed or issued and another 13 in the pipeline, the company's investment in R&D is clear. This focus can enhance investor confidence, indicating a robust pipeline of potentially marketable technologies. The market for data protection solutions is burgeoning, driven by increasing cyber threats and regulatory pressures.
Moreover, the mention of diverse market segments in recent partnering agreements suggests broad applicability of Trust Stamp's technologies, which could diversify revenue streams and reduce market risk. Investors should consider the strategic value of these patents in securing long-term growth and sustaining competitive advantage.
However, it’s essential to monitor the commercialization strategies and actual market penetration of these innovations. While the patent itself is promising, the key will be Trust Stamp’s ability to translate it into tangible business outcomes.
Trust Stamp has received a notice of allowance from the US Patent and Trademark Office for a new patent for an AI-powered personal identifiable information encoder
Atlanta, GA, May 23, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) announced that the company has received from USPTO an allowance notification for utility patent #17/719,975 entitled “Personal Identifiable Information Encoder”.
Gareth N. Genner, Trust Stamp’s CEO commented, “With 20 allowed and issued patents, and another 13 patents provisional or pending, Trust Stamp has built a substantial intellectual property portfolio. Although many of our patents started out focused on providing privacy-first identity solutions derived from biometric data, they have a wide range of potential use cases reflected by our recent partnering agreements in diverse market segments. This patent addresses the universal need to ensure security against cyber-attacks as well as providing optimized privacy protection by only storing and sharing tokenized personal data. We believe that this patent has particular significance in the context of privacy legislation such as GDPR and data localization and we will be announcing specific implementations to that end.”
Enquiries
Trust Stamp Email: Shareholders@truststamp.ai
Gareth N. Genner, CEO ggenner@truststamp.ai
About Trust Stamp
Trust Stamp the Privacy-First Identity CompanyTM, is a global provider of AI-powered identity services for use in multiple sectors, including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Located across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI). The company was founded in 2016 by Gareth Genner and Andrew Gowasack.
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All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
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