The global power industry experienced a 42% decline in the number of artificial intelligence-related patent applications in Q3 2023 compared with the previous quarter. The total number of artificial intelligence-related grants dropped by 50% in Q3 2023, according to GlobalDataâ€™s Patent Analytics. GlobalData’s databook Power: Patents Trends Q3 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of artificial intelligence-related patent applications in the power industry was 1,509 in Q3 2023, versus 2,624 in the prior quarter.
The top five companies accounted for 39% of patenting activity
Analysis of patenting activity by companies shows that State Grid Corporation of China filed the most artificial intelligence patents within the power industry in Q3 2023. The company filed 299 artificial intelligence-related patents in the quarter, compared with 552 in the previous quarter. It was followed by China Southern Power Grid with 218 artificial intelligence patent filings, Korea Electric Power (27 filings), and North China Electric Power University (21 filings) in Q3 2023.
Patenting activity was driven by China with a 79% share of total patent filings
The largest share of artificial intelligence related patent filings in the power industry in Q3 2023 was in China with 79%, followed by the US (8%) and South Korea (3%). The share represented by China was 9% lower than the 89% share it accounted for in Q2 2023.
For further understanding of GlobalData's Power: Patents Trends Q3 2023, buy the databook here.