SeltaSquare

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SeltaSquare, an AI-based pharmacovigilance specialist company, has won the Gold Award (Minister of SMEs and Startups Award) at the 2024 Korea Invention Patent Exhibition for its proprietary AI technology patent: "Method and Apparatus for Determining Hallucination Scores of AI Models in Language Processing Systems."

The Korea Invention Patent Exhibition is held annually under the auspices of the Korean Intellectual Property Office and organized by the Korea Invention Promotion Association, with the purpose of discovering, selecting, and exhibiting outstanding domestic technologies and patented products to promote awareness and accelerate commercialization.

The award-winning patented technology has been applied to SELTA-WAVE, a solution currently in use for pharmacovigilance operations at domestic and international pharmaceutical companies, significantly enhancing its performance. SELTA-WAVE is a solution that extracts necessary information from adverse event reports in pharmacovigilance workflows, and has made a substantial contribution to improving the productivity and efficiency of PV operations — where the accurate and reliable provision of information is of paramount importance.

CEO Shin Min-kyung of SeltaSquare stated: "As the global pharmacovigilance market continues to grow and our domestic and international market share expands, the potential for entering adjacent markets and overseas markets is increasing. We expect this patent to help meet the needs of diverse markets and create new opportunities through regulatory compliance, cost reduction, and ensured data reliability. We also hope that this patent will be actively leveraged to enhance the trustworthiness of AI-based medical information analysis — a field that is rapidly growing — and to strengthen drug safety and improve healthcare services."

The invention can be readily applied to a wide range of large-scale language processing systems, making it an effective tool for addressing the hallucination issues that have long been associated with AI. Since it can be applied without modifying existing LLM models, it also offers the significant advantage of substantially reducing additional development and operational costs. As the technology expands into various industries where generative AI is used and hallucination score prediction is needed, it is expected to contribute not only to improved analytical accuracy but also to enhanced market competitiveness.

Lee Min-su, AI Engineer at SeltaSquare who led the patent technology development, commented: "It is deeply rewarding to see that development which began as an effort to improve our own AI solution's capabilities has evolved into a technology with far-reaching impact — solving the hallucination problem in LLMs currently used across various industries, and advancing accuracy, efficiency, and reliability. I hope this technology contributes to strengthening national competitiveness, advancing the industrial ecosystem, reinforcing data security and sovereignty, and ultimately leads to overseas exports of domestically developed technology."

SeltaSquare's award-winning AI-enhanced patented technology was on display at the 2024 Korea Invention Patent Exhibition in Hall C, 3F COEX, Seoul, from November 27 to 30.

Read the Original Articles:

• Money Today: SeltaSquare Wins Gold Award at Korea Invention Patent Exhibition
• VentureSquare: SeltaSquare Wins Gold Award at 2024 Korea Invention Patent Exhibition