In the News
Gartner defines ‘big data’ as “high volume, high velocity, and/or high variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization”. This is the ‘3Vs’ definition of ‘big data’ and it certainly applies to patent data: the global patent data set today totals over 100 terabytes, with millions of new patent documents and updates made public every week, and the ever-increasing patent data volumes and variety show no signs of slowing down.
With autonomous vehicles and self-driving cars on the horizon, Chris Huffines examines how robots are disrupting multiple industries
The tech world’s buzz surrounding the topic of autonomous vehicles has been growing in recent years. Major automakers like Ford Motor Company (NYSE:F) have announced plans to develop self-driving cars for consumer release within five years. Transportation services company Uber has recently unveiled a fleet of cars with self-driving capabilities, some of which are currently operating in Pittsburgh, PA. As of this January, traditional automakers like Toyota Motor Corp. (NYSE:TM) and Robert Bosch GmbH (NSE:BOSCHLTD) held the largest portfolios directed towards autonomous vehicles despite tech industry advances made by Google and Tesla Motors (NASDAQ:TSLA).
Thanks to the internet, we have techniques for patent searching that were once unimaginable, bringing mass efficiencies to traditional patent search and analysis processes. For attorneys today, greater access to online information has increased the value of counselors to their clients, providing rich opportunities to forge deeper relationships. It has also increased the challenge of filtering through the noise and irrelevant search results that can drag down patent filing procedures and dive up costly disputes and litigation.