First American Receives Two Patents for Title Production
December 2, 2021
First American Financial Corp. received two patents for its application of artificial intelligence (AI) and text-analysis methods to title production from the United States Patent and Trademark Office.
The two latest additions to First American’s patent portfolio are:
- No. 10,997,403 B1, titled “System and Method for Automated Selection of Best Description from Descriptions Extracted from a Plurality of Data Sources Using Numeric Comparison and Textual Centrality Measure.”
- No. 11,048,711 B1, titled “System and Method for Automated Classification of Structured Property Description Extracted from Data Source Using Numeric Representation and Keyword Search.”
“These latest patents, the second and third awarded to First American this year alone, reflect our leadership of the advancement and acceleration of automated title production,” said Dennis Gilmore, CEO of First American Financial. “These innovations flow from our investment in AI, machine-learning and other advanced technologies that bring new levels of speed, accuracy and certainty to the real estate settlement process.”
The two patents, now part of the company’s portfolio that includes more than 30 active patents, allow First American to analyze and select relevant property description data, fueling more accurate automated title production. The patented AI-driven analysis helps accelerate the creation of the title commitment.
“We’re committed to deploying the latest AI and machine learning natural language processing methods to advance the digital transformation and acceleration of real estate transactions,” said Mark Fleming, senior vice president of Decision Sciences at First American. “These patented methods for analyzing text-based property description data further extend our rich history of innovation and help move our automated title production efforts forward."
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