U.K. marketsScottish university to auction off AI software predicting future trends

Published 20 March 2008

Scottish university tries a new approach: One of its researchers developed artificial intelligence software which predicts the future, and the school will auction it off at an IP auction in San Francisco next month

Yogi Berra said that “Predictions are very difficult, especially about the future.” Still, artificial intelligence my be of some help here. A patent for software that helps predict future trends is to be auctioned in San Francisco next month. The technology, created by engineers at Glasgow-based Strathclyde University, can reportedly predict trends in a variety of sectors, from forecasting in business and the stock market to product life cycles. This is the first time the university has used an auction to commercialize intellectual property. The patent will go up for sale at the Ocean Tomo Spring 2008 Live IP Auction on 2 April at the Ritz-Carlton, San Francisco.

Dr. Matthew Carpenter, intellectual property rights manager at Strathclyde, said: “Bringing pioneering technology out of the labs and into the marketplace is a vital part of our research strategy. We wanted to reach a new audience of potential developers, and an overseas auction is an ideal way to do that. The software has unlimited potential and can be used in any industry, from medicine to engineering, to telecommunications. With its ‘rapid learning’ technology and ability to make predictions in either the long or short term, this is the next generation of predictive software.”

Professor John Soraghan, of the university’s Department of Electronic and Electrical Engineering, created the software. It works by analyzing historical data, and can provide an alert for potential problems, while enabling statistical analysis. Unlike current systems, it operates on a standard PC and has real-time applications.