#AIEye #Podcast- GBT’s (OTC: $GTCH) CEO Updates Strategy of Building IP Portfolio and sale of its Avant! #AI #technology
#Stocks discussed: (OTCPINK: $GTCH) (OTCPINK: $TREN) (NYSE: $SNAP) (NYSEAmerican: $GNS) (NYSE: $CRM)
Vancouver, Kelowna, Delta, BC – April 18 2023 – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) stocks releases a special edition of the AI Eye podcast looking at the significance of intellectual property (IP) and patents in the tech space, featuring AI innovator GBT Technologies Inc. (OTC PINK:GTCH).
Listen to the Podcast:
https://www.investorideas.com/Audio/Podcasts/2023/041723-AI-Eye-GBT.mp3
Watch the Video on YouTube:
https://www.youtube.com/watch?v=ROBjekPsJnY
Read this in full at https://www.investorideas.com/news/2023/artificial-intelligence/04181GTCH-Sale-of-Avant.asp
Investorideas.com recently spoke to Mansour Khitab, CEO of GBT Technologies Inc. (OTC PINK:GTCH), who detailed the company’s progress in amassing a portfolio of Intellectual Property (IP).
“We now have 14 patents approved, which means that from last year to this year we’ve increased patent approval by 25 percent,” Khatib said. “And we have 25 [patents] pending [approval], maybe 26 because we’ve just had another advancement. The numbers are always a little bit fluid, but overall I’m really happy with the progress we’re making.”
The last time Khatib spoke to Investorideas.com, GBT boasted “10 patents approved, and 26 pending,” indicating a goal of having 20 approved by the end of this year. In that interview, Khatib explained the company’s shift in strategy to focus on Research & Development efforts, comprising "patents, trade secrets and prototypes" with particular focus on 3D Microchip Design (semiconductors), tracking, EDA (Electronic Design Automation) Software Tools, cybersecurity, telehealth, AI, computer vision, IoT, and more.
Apart from patent approvals, GBT has also recently announced the sale – through its 50 percent-owned subsidiary GBT Tokenize Corp. – of its Avant! AI technology to Trend Innovation Holdings, Inc. (OTCPINK:TREN). Trend, an AI-based information technology firm, has already announced the successful testing of Avant! AI in a theoretical cybersecurity incident simulation, wherein “Avant! AI proved to have superior capabilities when performing real-time cyber incident analysis.” Natalija Tunevic, the President and CEO of Trend, said:
"[Trend Innovation Holdings] plans to continue its efforts to adapt Avant! AI to perform as an intelligent cybersecurity agent so that it can assist organizations with monitoring, identifying, remediating, and recovering from any potential cyber-attacks. By conducting such simulations, organizations can identify weaknesses in their security posture, improve incident response procedures, and ultimately reduce the likelihood of a successful cyberattack."
Khatib said the significance of the deal with Trend Innovation Holdings was that it maintained GBT’s ability to license and develop the technology.
“The big thing about this deal is that we retain certain rights for the software, so we can use [it] for our own software packages, and that was one of the conditions for this to move ahead,” he said.
Khatib explained how Avant! comprises a base system, which GBT maintains, and can have different functionalities built on top of it.
“We have an Avant! core package – Avant! AI which we registered as a trademark – which we believe is very comprehensive and very fast,” he said. “It can take massive amounts of data, and work through it very fast. However there are two parts to it, there’s this core system, and what I call its “skins”. The skins are actually the functionalities of it. Say you want to build a stock trader: the core engine will look at all the data for all the stocks in the last 10 years and do the calculations, but now you’d have to build another part on top of it to execute actions etc… “
This practice of licensing out software and technology to other firms is demonstrated quite successfully by AI research firm OpenAI, and its chatbot technology ChatGPT. Recently, Snap Inc. (NYSE:SNAP) announced the launch of “My AI,” a new chatbot running the latest version of OpenAI's GPT technology tailored for the former’s Snapchat instant messaging application. The press release reads:
My AI can recommend birthday gift ideas for your BFF, plan a hiking trip for a long weekend, suggest a recipe for dinner, or even write a haiku about cheese for your cheddar-obsessed pal. Make My AI your own by giving it a name and customizing the wallpaper for your Chat.
Still another instance of OpenAI’s application is by education technology firm Genius Group Limited (NYSEAmerican:GNS), which recently announced the launch of its Genius AI Educator Suite, combining the AI capabilities of OpenAI’s GPT-3 and GPT-4 with the AI capabilities of Salesforce’s (NYSE:CRM) Einstein AI. Together, these technologies will power Genius Group’s AI Genie Virtual Assistant on its Edtech platform, GeniusU.
But with all the pervasiveness of AI, Khatib noted that GBT intends to focus on a wide array of IPs, with which it plans to continue selling and licensing to larger firms.
“We want to continue growing our IP portfolio in different areas, and eventually we want larger companies to take interest in some of the portfolio,” he said. “Then, we’d license or sell the technology to them and, with that, create an income stream which we can leverage and make money with. My whole argument about the change in focus to IP was that, because we’re good at building IP, we’re building value much faster for the shareholders and the company than if we had just concentrated on building a little gadget or something and getting into sales etc… I know it’s tough, but now that we’ve made this deal it proves the concept that there are actually companies out there interested in our technology.”
“Now we just have to get our other technologies and bring them in front of larger companies and hopefully this will happen by the end of the year,” he said.
Listen to other editions of the AI Eye Podcast
https://www.investorideas.com/Audio/Podcasts-AI-Eye.asp
For a list of artificial intelligence stocks on Investorideas.com visit here
About GBT Technologies Inc.
GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.
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