We are proud to announce that we have been granted two patents for our innovative work in the field of Natural Language Generation and Artificial Intelligence. The Indian Patent Office, under the provisions of the Patents Act, 1970 issued the first patent in December 2020 for the invention of a system and method for generating dynamic visualizations and narrations on digital data. Less than a year after that, we secured our second patent for Phrazor titled ‘System and Method for explaining actions taken in real-time on Event Stream using NLG’.
What are these patents, and do they help businesses and users? Let’s understand each patent individually:
Patent 1 - System and Method for generating Dynamic Visualizations and Narrations of Digital Data. This patent enables enterprises across industries to easily analyze hefty amounts of data and gain deep insights from them in words. This patent will enhance Phrazor’s capability of automatically finding relevant visualizations from data while weaving deep insightful data stories in real-time, and help data workers save millions of hours that are wasted in making sense of business data.
Patent 2 - System and Method for explaining actions taken in real-time on Event Stream using NLG. Through this patent, Phrazor will help businesses by analyzing their data and recommending decisions based on it, in real-time. The uniqueness of this solution lies in the fact that Phrazor will explain these decisions in the form of language narratives, as to what happened, why it happened, and the series of logical processes it took to arrive at an actionable decision.
“We have always been passionate about solving complex real-world problems with new innovative technologies,” said Neerav Parekh, founder and CEO of vPhrase. “With these new feathers in the hat, we are a step closer to our mission to building a society where you don’t need expertise to understand data.”
When dashboards are visually complex, business leaders struggle to understand them and use them in making effective decisions. vPhrase Analytics, through its AI-powered BI product Phrazor, auto-generates insights in language directly onto dashboards. Enterprises like Barclays, Fidelity, Olam, Sanofi, and more use Phrazor to create thousands of highly personalized reports at scale, in minutes.