Web of knowledge: Mapping out the links between ideas in patents and other documents can reveal gaps in today’s technology that are ripe for exploration.
Credit: Quid

Computing

Can an Algorithm Spot the Next Google?

A startup analyzes tweets, patents, and lots of other data in the hopes of identifying the next big thing.

  • Thursday, April 14, 2011
  • By Jim Giles

By definition, "disruptive" technologies are those that take the world by surprise. Now a startup called Quid claims that its software can make good guesses about what the next big thing will be. It does this by analyzing a store of data on existing companies, ideas, and research.

Over the past 18 months, Quid has developed a system that charts the relationships between existing technologies, and identifies areas ripe for influential new ideas. "The goal is to map the world's technology and to understand where it's going," says Sean Gourley, Quid's chief technology officer. "The human brain can't process all of this." The company thinks its software can help people who invest in early-stage technologies pick more winners than losers, or guide companies into potentially lucrative areas of research.

Quid has built a data set combining information about firms that succeeded and sank, patent documents, government grants, help wanted advertisements, and even tweets. Its algorithms use that collection of information to analyze the prospects of around 35,000 firms and research groups working on new technologies.

By extracting words and phrases from the collected documents, Quid constructs a "technology genome" that describes the primary focus of each of those 35,000 entities. A map of the connections those genomes can be used by investors to find hints about interesting companies or ideas, says Gourley. Most companies cluster around established sectors, but a few will sit in the white spaces between the clusters and can represent the seeds of new technology sectors.

A map that Quid prepared for Technology Review, for example, shows a Minneapolis-based company called superDimension in the space between the clusters for medical devices and navigation technologies. The firm develops bronchoscopes that can be directed to peripheral areas of the lung using similar techniques to those used by GPS devices. Three devices placed on the patient's chest are used as points of reference, just like GPS satellites.

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luddite

407 Comments

  • 766 Days Ago
  • 04/16/2011

quid pro quo

I'm willing to bet anyone that simple logistical regression analysis can isolate just as many business development opportunities that this approach can. Supply chain management data is inherently more reliable as well.

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watching4signal

15 Comments

  • 759 Days Ago
  • 04/23/2011

God Syndrome much?

"The human brain can't process all of this." God Syndrome much? So I have an Idea... Lets run the same data insurance companies and marketers have been using forever through our new computer and see what we get ted. You know what jim, that's going to change the game and make us immortal, you deserve a raise and a trophy wife. Are they attempting to redefine the term "News"?

With that being said (I just love that term by the way, with that being said. If Its been said why bother repeating it?) Anyway when this gets done finding the new google that will be derived from the 2nd secret dewey decimal system and put to use cataloging the new internet I'd love to get a copy to study which one of my neighbors is most likely to have the hots for my new wife. This is a great new development or program but it is not new it is just a new way of doing the same thing. Maybe I am missing the point or something because that is all I see for this even using my super evoled forward thinking brainwave enhancing capabilities.

Another Forex Website - Old habit.

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