Stuart Rogers, Chairman and Chief Executive of Arria NLG, stated: “Arria NLG has an active IP strategy and remains focused on securing US patents on its key innovations in natural language generation.
We feel it is prudent to continue to lay the foundations to safeguard our products and critical processes, ensuring their protection, whilst also maintaining our position as one of the leading NLG and AI innovators.
This, the sixth US patent to be granted to Arria NLG, demonstrates our commitment to building unrivaled technology and securing greater long-term value for shareholders.”
Arria NLG plc (AIM:NLG), a technology leader in Natural Language Generation (“NLG”), have told DirectorsTalk that it has received notice from the United States Patent and Trademark Office that its application for a patent on its Method And Apparatus For Updating A Previously Generated Text will be granted. The Company’s Chief Strategy Scientist, Dr. Robert Dale, and senior members of Arria NLG’s software development team created this important new feature of the Arria NLG Platform.
The new patent covers a key component of Arria NLG’s information analysis and delivery products. The Company’s products not only automate the real-time analysis and delivery of reports, they also dynamically update the reports as frequently as the user desires, or in response to changes in the data such as alert thresholds being crossed more frequently or to a greater degree.
A less intelligent NLG system typically re-writes the report, often a very different report from the one originally created, whereas the new patented features allow the Arria NLG Platform to update the existing report in a more concurrent fashion, an approach that a human expert would take when updating his or her own work. As the data from the underlying transactions (be it market trends or industrial or extractive operations) is continuously updating or changing, Arria NLG’s products – the analysis and reporting function – constantly updates with the data, responding dynamically and with best-practice outputs to the changed circumstances.
Arria NLG’s patents and patent applications cover critical NLG processes that the Company currently applies to innovative applications delivered to its growing list of global clients, as well as to a range of SaaS-delivered packaged applications that are in development for a number of markets. The patents also apply to the Company’s proprietary Software Development Toolkit (“SDK”). Arria NLG’s expanding patent portfolio strengthens its plan to become the global leader in automating data analysis and information delivery in any industrial or consumer setting.
The Arria NLG Platform uses NLG, robotic automation and AI (artificial intelligence) evaluation methods to provide real-time advanced data analysis and insights that help automate financial operations, such as credit reporting, financial planning and analysis (FP&A) and period end financial reporting. Most credit reporting and related processes depend on simple spreadsheet and basic technology, disintegrated data sources, slow and manual processes, and rules-based analysis supplemented by human-generated compilation, analysis and reporting.
These currently dis-integrated processes hinder enterprises’ ability to make fast, accurate, consistent and insightful decisions and forecasts. Arria NLG makes financial reporting operations more intelligent, provides greater levels of accuracy and faster execution. The intelligent automation that Arria NLG delivers also helps eliminate individual error, inconsistency and bias.
