It is the result of AI technology that analyses and predicts your shopping behavior which eases when you shop at Amazon and different products are customized specifically to your taste. To make the world a better place, there are countless AI start-ups.
A huge motivator for AI innovation is the challenges that the world faces today such as climate change. To help us face such challenges, every AI idea is developed. In the U.S, venture funding for AI grew to about 9.3 billion dollars during 2018. A huge back-up is provided by Venture Capitalists for a great AI or a machine learning invention.
The career paths for us as well as future generations are changed with the introduction of AI. There are a few that argue how it’s taking away human jobs. The positive impact AI made in the case of hazardous jobs cannot be ignored. There are life-threatening jobs that are better dealt with AI-powered robots such as the removal of explosives – mines and bombs.
AI-powered robots are used to extract, transfer, and secure coal from underground mines in coal mining which is considered as one of the most dangerous jobs in the world. Exposure to toxic chemicals and fumes creates health risks associated with coal mining. To prevent casualties, such jobs are made safer by AI.
Thousands of AI patents are used to protect automatic translation technologies. The translation engines include Google, Amazon, and Bing and all use neural machine translation. In 1997, Google’s automated language translation system which replaced the human language translation system was patented. The number of patent families in AI has seen a gradual increase in the past decade.
The AI patent trend is significantly lower in the case of India when compared to the rest of the world. Diverse sectors such as finance & banking, e-commerce, agriculture, healthcare, autonomous driving, and e-governance see a lot of unfolding potential with opportunities. The top owner of AI patents in India is the Tata Group which has a maximum number of patent families. Tata Group is followed by Wipro and HCL Technologies in the AI patent ownership.
AI has the potential to change the world and its relevance today is indisputable. If AI can bring a disruptive impact to the industry, then it is important to publicize AI-based inventions. AI patent portfolios protect the ideas and generate revenue from unique inventions.
