Power innovation: machine learning innovation in the power industry has declined in the last year
Research and innovation in machine learning in the power industry operations and technologies sector has declined in the last year.
The most recent figures have shown that the number of machine learning-related patent applications in the power industry stood at 203 in the three months ending June, down from 228 over the same period in 2021.
Figures for patent grants related to the field followed a similar pattern to filings, shrinking from 80 in the three months ending June 2021 to 71 in the same period in 2022.
The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.
Machine learning is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from. The figures also provide an insight into the largest innovators in the sector.
Siemens was the top innovator in the power industry operations and technologies sector in the latest quarter. The company, which has its headquarters in Germany, filed 112 related patents in the three months ending June. That was down from 169 over the same period in 2021.
It was followed by the Switzerland-based ABB with 22 patent applications, the US-based Honeywell International (17 applications) and South Korea-based Korea Electric Power (16 applications).
ABB has recently ramped up research and development in machine learning. It saw growth of 59.1% in related patent applications in the three months ending June compared to the same period in 2021, the highest percentage growth out of all companies tracked, with more than 10 quarterly patents in the power industry operations and technologies sector.