Etsy has been granted a patent for a multi-source item creation system. The method involves using machine learning models to match manufacturers with unique item attributes specified by users on a digital platform. This innovative system aims to streamline the manufacturing process for customized items. GlobalData’s report on Etsy gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Etsy, Dynamic premium pricing was a key innovation area identified from patents. Etsy's grant share as of February 2024 was 63%. Grant share is based on the ratio of number of grants to total number of patents.
Custom item creation system using machine learning for manufacturers
A recently granted patent (Publication Number: US11874645B2) outlines a method and system for utilizing machine learning models to assist in the manufacturing process. The method involves receiving training data related to historical user activity, training machine learning models to output a set of manufacturers based on item attributes, updating a visual representation of the item based on user input, generating a set of manufacturers based on uniqueness and characteristics, and returning a subset of manufacturers to the client device. The system includes processors and memory storing instructions to perform these operations, with the option of an augmented reality user interface for visual representation and adjusting dimensions based on user input.
Furthermore, the patent details additional features such as receiving preference data through the user interface to indicate the importance of item parameters, weighting factors in the machine learning models based on this data, and generating manufacturing parameters for manufacturers. The computer-readable storage device also stores instructions for these operations, including providing a manufacturing diagram as part of the updated parameters. Overall, the patent highlights a comprehensive approach to leveraging machine learning in the manufacturing process, enhancing user interaction, and streamlining the selection of manufacturers based on specific attributes and user preferences.
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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.
