ASX Media Release IP Patent Granted
Patent Granted for Flamingo Ai Technology
SYDNEY, 15 January 2020, Flamingo Ai Limited (“Flamingo Ai” or “the Company”) (ASX: FGO), is pleased to announce the granting of a patent for its Semi-supervised Question Answering Machine.
Flamingo is now the owner of Australian Patent No. 2018223010. This Patent is for the Company’s semisupervised question answering machine, which sets out the method that Flamingo Ai uses for semisupervised machine learning to propagate answer weights around a question space. This Patent protects the core of the Company’s intellectual property. With its granting, the Company now has enforceable rights relating to the inventions covered by the patent. These rights commenced August 30, 2018 and last 20 years until August 30, 2038.
The Patent is also currently awaiting examination in the US jurisdiction.
The granting of this Patent means that the underlying Intellectual Property (IP) of the Company’s main product, the Intelligent Knowledge Hub, is protected, thus increasing the competitive advantage of the Company. It also increases the inherent value of the Company’s IP.
Dr Catriona Wallace, Founder & Executive Director stated, “Flamingo Ai set out to overcome the problems of other AI technologies by inventing and building our own unique IP related to semi-supervised machine learning. It has taken the team a lot of hard work to build this machine-learning technology and we are pleased it is recognised and protected with the granting of this patent.”
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