By The impact and influence of AI and machine learning algorithms are transforming business operations worldwide. Major tech giants have been actively registering AI patents to provide solutions across different industries. This is in response to the growing demand for AI capabilities that automate business processes.
Being a leader renowned for its advancements, Samsung has made substantial investments in research and development related to AI.
They have utilized patents and intellectual property as assets. In Q3 2023, the firm managed to add 642 patents to its already extensive portfolio. However, this number falls short compared to the previous quarter’s count of 1081 patents.
According to Stocklytics.com’s data analysis, Samsung experienced a drop of 42% in its AI patent filings during Q3 2023. This unexpected decline raises questions about their innovation trajectory and the factors influencing this downturn.
Edith Reads, a finance expert at Stocklitics.com, commented on this analysis:
Samsung’s unwavering commitment towards research and development has solidified its position as a leader in technology. Their strategic utilization of patents and intellectual property showcases their determination to push the boundaries of AI innovation. Despite a setback in Q3 2023, their formidable patent portfolio remains an enduring testament to their journey
Stocklytics financial expert, Edith Reads
In Q3 2023, Samsung SDS prioritized safeguarding inventions in South Korea (KR) with 25 publications.
The South Korea (KR) Patent Office leads in both patent filings and grants, accounting for almost 53% of filings and 73% of grants globally.
Samsung SDS files patents in the top ten patent offices, including the South Korea (KR), United States (US), and European Patent Office (EPO).
In terms of granted patents, Samsung SDS holds 73% in South Korea (KR), 23% in the United States (US), and 5% in the European Patent Office (EPO) among the top patent authorities.
An analysis of patenting activity within the technology sector reveals that Samsung Group led the way in AI patent filings during Q3 of 2023.
Alphabet, International Business Machines (IBM), and Ping An Insurance (Group) Company of China closely followed Samsung with 614, 558, and 510 patent filings during the period.
China leads in the number of patent applications related to AI, accounting for 45%, followed by the USA at 25%. South Korea secured the third position with a 6% share. Notably, China’s share increased by 7% compared to its 39% in Q2 2023.
