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Patsnap’s latest AI-powered tool, Eureka, promises to boost research and development (R&D) processes and help companies accelerate early-stage product development. With its proprietary PatsnapGPT model, Eureka aims to transform the tedious, time-consuming stages of innovation into a swift, secure, and efficient process.
Eureka’s unique approach enables users to query an extensive database, identify viable solutions, and even test the feasibility of concepts without the usual, extensive legwork.
An essential feature within Eureka is Hiro, a conversational assistant, almost similar to tools like Claude and ChatGPT, designed to help users refine complex questions and drill down into specific areas of product research. R&D teams can start with a broad inquiry using Hiro’s Q&A. Then, they can narrow down with specific insights as they progress through solution-focused stages.
The Singapore-based intellectual property intelligence firm’s clients include prominent names like Disney, Tesla, and Dow Chemical, which have been using the tool to drastically reduce research times.
The tools help cut down on time spent searching for market trends and existing innovations “from weeks to seconds,” said Scott Matteucci, a capital manager at Dow Chemical who has tested Eureka in beta. This speed gives R&D teams more time for decisions and reduces the risk of missed opportunities in fast-paced industries.
Despite its extensive data handling, Patsnap prioritizes data security. Unlike many AI tools that train on customer input, Patsnap operates within a strict firewall, so there’s no data leakage.
“All of these answers are being pulled from our data sets. Since being founded in 2007, we’ve been able to curate these specific data sources—whether they be patents, scientific literature, VC investments, market sizes, investments from sort of government bodies—so it’s ready for [Hiro] to retrieve,” Frazer Kearl, senior product manager at Patsnap noted.
“The reinforcement learning is done via experts in the field that are specific to industries of our customer base, and it’s very much focused on those tasks,” Kearl added. He highlighted how their model complies with data privacy laws, such as the EU’s General Data Protection Regulation (GDPR), AI Act, and the California Consumer Privacy Act (CCPA).
Eureka, a prime example of AI-driven product development, shows AI’s potential to revolutionize innovation. “I think there’s such real-world value to what we do with our customers because they’re working on breakthroughs,” said Micky Teng, Patsnap’s senior head of marketing.
Teng notes the tool’s potential to innovate other industries. Clients like Rivian and Tesla, which make electric vehicles, and BioNTech, which worked on the Pfizer vaccine for COVID-19, are examples. With Eureka, Patsnap could catalyze major breakthroughs in science and engineering, making companies innovate faster and lean more on quality.
Just as Teng said, “It’s the customers that are shaping the future of every industry.”
