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71 FIRST AMERICAN AWARDED TWO U.S. PATENTS First American Financial Corporation, a global provider of title insurance, settlement services, and risk solutions for real estate transactions, announced that the United States Patent and Trademark Office has issued the company two patents for the innovative application of artificial intelligence (AI) and text-analysis methods to title production. "ese 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 J. Gilmore, CEO, First American Financial Corporation. "ese 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." e two patents, now part of the company's portfolio that includes more than 30 active patents, allow First American to rapidly and efficiently analyze and select relevant property description data, fueling more accurate automated title production. e 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 VP of Decision Sciences at First American. "ese 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." e two latest additions to First American's industry-leading 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." Other First American innovations in this field include: » Patents on technologies that facilitate the automated underwriting and production of title insurance; » Patents on technologies that enable risk assessments of mortgage loans; » Patents on technologies that improve the speed and precision of data collection or extraction from source documents, including documents essential to the underwriting of title insurance policies; » Patents related to optical character recognition technologies that help to unlock and structure the data held in millions of public records, powering automated title production breakthroughs, as well as enhancing the breadth and accuracy of title plant data. Industry Updates