The impact of artificial intelligence (AI) on the technology industry is evident through breakthrough patents, highlighting advancements in diverse applications. Simultaneously, strategic deals shape the industry landscape, emphasizing the growing importance of AI. Job postings in the sector underscore a notable surge in demand for roles closely tied to artificial intelligence. AI’s impact extends beyond the technology sector, influencing various industries. GlobalData’s artificial intelligence market report helps keep abreast of the latest trends in artificial intelligence, market opportunity forecasts and the competitive landscape. Buy the report here.
This article presents a quarterly round-up of the latest trends in the technology industry regarding AI. It provides an overview of recent developments in AI-related deals, talent acquisition, and patent filings within the technology industry.
Diverse applications of artificial intelligence in technology industry
Technology companies in the field of artificial intelligence (AI) are leveraging the latest patents to innovate and improve their businesses. These patents cover a range of AI technologies and applications.
One patent focuses on predicting MHC-peptide binding affinity, employing an RNN encoder and attention weighting, crucial for fields like immunotherapy and vaccine development. Another introduces a system utilizing an infrared camera and Siamese neural network to monitor switchgear, enhancing safety by detecting hot spots and preventing potential failures.
In parallel, a distinct patent revolutionizes recommendation systems by generating reasons based on pre-trained models, considering question-answer data for more personalized recommendations. Furthermore, a patent in dynamic spectrum management optimizes wireless communication efficiency using monitoring sensors and a semantic engine. Lastly, a patent on managing wireless devices leverages multiple machine learning models, enabling configurations based on ML model output to enhance network performance and efficiency.
Acquirers of these patents will benefit from advancements in AI technologies and applications. These technologies offer improved accuracy in predicting MHC-peptide binding, enhanced safety in switchgear monitoring, more personalized recommendation systems, optimized spectrum management, and improved network performance. Overall, these patents provide valuable tools for technology companies to innovate and enhance their AI-based products and services.
The industry experienced a 10% decline in the number of AI-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of AI-related patent applications in the technology industry witnessed a drop of 25% compared with Q3 2022.
Strategic deal trends in artificial intelligence in technology industry
Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in AI. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of AI in the technology industry.
In Q3 2023, the number of AI-related deals in the technology industry grew by 3% compared with Q3 2022. On a quarterly basis, there was 2% drop in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the technology industry experienced a 10% growth compared with the previous quarter. On an annual basis, job postings also declined by 14%. Notably, computer and mathematical occupations, with a share of 40%, emerged as the top AI-related job roles within the technology industry in Q3 2023, with new job postings rising by 16% quarter-on-quarter. Management occupations came in second with a share of 14% in Q3 2023, with new job postings rising by 5% over the previous quarter. The other prominent AI roles include architecture and engineering occupations with an 8% share in Q3 2023, and sales and related occupations with a 5% share of new job postings.
Countries driving adoption of artificial intelligence in technology industry
The US is the leading country in AI adoption within the technology industry, boasting the highest number of AI-related patents, jobs, and deals. Meanwhile, China, the UK, Japan and India also maintain significant positions in AI adoption within the technology industry.
In conclusion, the technology industry's path in AI is defined by a surge in strategic deals, pioneering patents, and a dynamic job market. As companies strategically invest and innovate, the global impact of AI extends, shaping the adoption and advancement of artificial intelligence in the technology sector.
To further understand GlobalData's analysis on artificial intelligence in the technology industry, buy the report here.