Walmart had 44 patents in artificial intelligence during Q1 2024. Walmart Inc’s patents filed in Q1 2024 focus on utilizing machine learning models to predict user behavior and display targeted online advertisements, training query-specific answer retrieval modules in real-time, automatically grouping similar items from various suppliers using machine learning, and utilizing CNN-based models for text detection in images. Additionally, the patents also cover systems and methods for distributed risk analysis. GlobalData’s report on Walmart gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Walmart grant share with artificial intelligence as a theme is 54% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Systems and methods for determining customer lifetime value (Patent ID: US20240104588A1)
The patent filed by Walmart Inc. describes a system that uses machine learning to predict the Lifetime Value (LTV) of users based on their interactions with various channels. The system then determines transition paths for users to move between different user states and displays online advertisements to facilitate these transitions. The model also includes updating the LTV prediction model periodically and using decay functions to determine the most effective online advertisements for users based on their predicted LTV.
The system segments users into different states based on their interactions, predicts LTV using a machine learning model, determines transition paths between user states, and displays online advertisements to facilitate these transitions. Additionally, the system can calculate average LTV for different user states, display targeted advertisements based on user LTV, and update the LTV prediction model regularly. By utilizing machine learning and predictive analytics, the system aims to optimize user engagement and advertising strategies based on the expected value each user brings to the platform.
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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.
