MUMBAI, India, Aug. 24 -- Intellectual Property India has published a patent application (202641094176 A) filed by Vardhaman College Of Engineering on August 04, 2026, for Behavioral Economics-Informed Ai Model For Predicting Consumer Spending Patterns.
Inventors include Ms. Uma Datta Amruthaluru; Ms. A Ashwini; Ms. Kalluri Niveditha; Mr. G E Agrawal; Dr. U Sesadri; and Prof. G Venkata Rami Reddy.
The application for the patent was published on August 21, 2026, under issue no. 34/2026.
Abstract: Behavioral Economics-Informed Artificial Intelligence Model for Predicting Consumer Spending Patterns is the proposed invention. The present invention relates to an artificial intelligence system for predicting consumer spending patterns based on a Long Short-Term Memory (LSTM) neural network informed by behavioural economics. A variety of data sources provide consumer transaction records, demographic data, income data, digital payment history and economic indicators to the system. We identify behavioural economics features such as loss aversion, present bias, mental accounting, anchoring effect, impulsive spending tendency and social influence and combine them with historical spending data to develop a comprehensive behavioural profile. The LSTM model utilises the temporal sequences of spending to predict future spending across multiple categories of expenditure with higher accuracy. There is a continuous feedback mechanism of actual consumer spending that updates the prediction model to adapt to changing financial behaviour and market conditions. An explainable artificial intelligence module identifies the key factors influencing each prediction, improving transparency and user confidence. The invention enables secure and privacy-preserving processing of consumer data while enabling personalised financial planning, intelligent marketing, retail analytics and digital banking.
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