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March 2, 2022updated 01 Mar 2022 11:51am

Machine learning innovation among power industry companies has dropped off in the last year

Research and innovation in machine learning in the power industry operations and technologies sector has declined in the last year.

By Data Journalism Team

Research and innovation in machine learning in the power industry operations and technologies sector has declined in the last year. The most recent figures show that the number of related patent applications in the industry stood at 79 in the three months ending December – down from 174 over the same period in 2020.

Figures for patent grants related to followed a similar pattern to filings – shrinking from 40 in the three months ending December 2020 to 20 in the same period in 2021.

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 44 related patents in the three months ending December. That was down from 116 over the same period in 2020.

It was followed by the US-based 3M with 18 patent applications, South Korea-based Korea Electric Power (14 applications), and the US-based Honeywell International (12 applications).

Korea Electric Power Corp has recently ramped up R&D in . It saw growth of 85.7% in related patent applications in the three months ending December compared to the same period in 2020 - the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the power industry operations and technologies sector.

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