Block had one patents in social media during Q4 2023. Block Inc’s patent involves a service provider that uses machine learning to predict merchant services that potential merchants are likely to use based on their information and intent data. This helps streamline the onboarding process for new merchants by offering them relevant services from the start. GlobalData’s report on Block gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Block grant share with social media as a theme is 0% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Intelligent merchant onboarding (Patent ID: US20230351409A1)
Block Inc. has filed a patent for a computer-implemented method that involves obtaining merchant information and intent data associated with registered merchants to predict services a potential merchant intends to use. The method includes training a machine learning model using this data, receiving an indication of a potential merchant initiating an onboarding process, determining information about the potential merchant, and predicting services they are likely to use based on the machine learning model. The system also involves updating training data, determining confidence values for predicted services, and providing recommendations to potential merchants based on their onboarding process and merchant information.
Additionally, the patent includes claims for a system with processors and computer-readable media storing instructions to perform the method described. It further details the training of machine learning models, determining confidence values for predicted services, and providing recommendations to potential merchants. The system is designed to optimize the onboarding process for new merchants by predicting their service needs based on existing merchant data and intent information, ultimately enhancing the overall merchant experience and service provider efficiency.
To know more about GlobalData’s detailed insights on Block, buy the report here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
