The global power industry experienced a 33% decline in the number of artificial intelligence-related patent applications in Q1 2023 compared with the previous quarter. The total number of artificial intelligence-related grants dropped by 48% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Artificial Intelligence will prove to have a transformative impact across power sector. GlobalData’s Artificial Intelligence (AI) Market report helps keep abreast of the latest trends in Artificial Intelligence, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, the number of artificial intelligence-related patent applications in the power industry was 626 in Q1 2023, versus 931 in the prior quarter.
The top five companies accounted for 43% 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 Q1 2023. The company filed 125 artificial intelligence-related patents in the quarter, compared with 222 in the previous quarter. It was followed by China Southern Power Grid with 101 artificial intelligence patent filings, Korea Electric Power (18 filings), and ABB (16 filings) in Q1 2023.
Patenting activity was driven by China with a 52% share of total patent filings
The largest share of artificial intelligence related patent filings in the power industry in Q1 2023 was in China with 52%, followed by South Korea (5%) and the US (2%). The share represented by China was 7% lower than the 59% share it accounted for in Q4 2022.
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