Bank of America is celebrating a record achievement, having been granted 227 US patents in the first half of the year, with significant attention to AI and machine learning technologies. This marks a 23% increase in patents granted by the US Patent Office compared to the same period the previous year.
Notably, AI and machine learning accounted for 25% of the patents, while mobile banking constituted 21%, information security 16%, and blockchain represented 8%. Additionally, despite most of its workforce operating remotely, Bank of America has filed 403 new patent applications over the last six months. Of these, 29% pertained to information security, 17% to mobile banking, and 12% to programming technology.
The bank’s total patent portfolio now contains 4,943 patents granted or pending, attributed to the efforts of nearly 6,000 inventors across 42 US states and 13 countries worldwide. Manu Kurian, a senior vice president within global banking, ranks among the top 300 patent holders worldwide, having filed more than 360 patents since 2014, with over 220 granted.