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July 7, 2021updated 01 Feb 2022 10:33am

Companies leading the way for artificial intelligence in the power sector

We aggregated thousands of records from GlobalData's proprietary jobs, deals, patents and company filings databases to identify the top companies in the area of artificial intelligence in the power sector.

By Data Journalism Team

Siemens AG and Vestas Wind Systems AS are leading the way for artificial intelligence investment among top power companies according to our analysis of a range of GlobalData data.

Artificial intelligence has become one of the key themes in the power sector of late, with companies hiring for increasingly more roles, making more deals, registering more patents and mentioning it more often in company filings.

These themes, of which artificial intelligence is one, are best thought of as “any issue that keeps a CEO awake at night”, and by tracking and combining them, it becomes possible to ascertain which companies are leading the way on specific issues and which are dragging their heels.

According to GlobalData analysis, Siemens AG is one of the artificial intelligence leaders in a list of high-revenue companies in the power industry, having advertised for 1,397 positions in artificial intelligence, made zero deals related to the field, filed 81 patents and mentioned artificial intelligence one times in company filings between January 2020 and June 2021.

Our analysis classified two companies as Most Valuable Players – or MVPs – due to their high number of new jobs, deals, patents and company filings mentions in the field of artificial intelligence. An additional seven companies are classified as Market Leaders and one are Average Players. 11 more companies are classified as Late Movers due to their relatively lower levels of jobs, deals, patents and company filings in artificial intelligence.

For the purpose of this analysis, we’ve ranked top companies in the power sector on each of the four metrics relating to artificial intelligence: jobs, deals, patents and company filings. The best-performing companies – the ones ranked at the top across all or most metrics – were categorised as MVPs while the worst performers – companies ranked at the bottom of most indicators – were classified as Late Movers.

Siemens AG is spearheading the artificial intelligence hiring race, advertising for 1,397 new jobs between January 2020 and June 2021. The company reached peak hiring in February 2021, when it listed 134 new job ads related to artificial intelligence.

E.ON SE followed Siemens AG as the second most proactive artificial intelligence employer, advertising for 446 new positions. Schneider Electric SE was third with 178 new job listings.

When it comes to deals, Chubu Electric Power Co Inc leads with one new artificial intelligence deal announced from January 2020 to June 2021.

GlobalData's Financial Deals Database covers hundreds of thousands of M&A contracts, private equity deals, venture finance deals, private placements, IPOs and partnerships, and it serves as an indicator of economic activity within a sector.

One of the most innovative power companies in recent months was Siemens AG, having filed 81 patent applications related to artificial intelligence since the beginning of last year. It was followed by Vestas Wind Systems AS with three patents and Electricite de France SA with one.

GlobalData collects patent filings from 100+ counties and jurisdictions. These patents are then tagged according to the themes they relate to, including artificial intelligence, based on specific keywords and expert input. The patents are also assigned to a company to identify the most innovative players in a particular field.

Finally, artificial intelligence was a commonly mentioned theme in power company filings. Schneider Electric SE mentioned artificial intelligence four times in its corporate reports between January 2020 and June 2021. Centrica Plc filings mentioned it two times and Southern Co mentioned it two times.

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