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Crisis the mother of Innovation and IP Creation
Crisis the mother of Innovation and IP Creation

June 23, 2021

AI

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The current pandemic has forced businesses to rethink the way they operate putting businesses into an innovation overdrive - be it efficient ways to work from home, hospitals/ doctors pushing for virtual consultations, online shopping for everything from groceries to cars. Technology innovation which would have taken several years has been put into practice in months.

Moreover, innovation in how businesses are able to adapt to the current demands of the situation is becoming a key differentiator for successful businesses. Also, these successful businesses highlight that innovation is not something that starts one day and stops once a particular goal is achieved, it’s a mindset, a culture that runs in the organization which strives for innovation each day.

A similar focus on innovation was witnessed during the last year as well - when despite the GDP plummeting by 3.6% in 2020; international patent filing increased 4%  - with computer technology and digital communication being the top focus areas.

Source: “AI Patents – Driving Emergence of India as an AI Innovation Hub

Also, this shift towards new technologies is being seen in India where over 70% of the technology patents relate to emerging technologies with AI accounting for a share of 6%.

Source: “AI Patents – Driving Emergence of India as an AI Innovation Hub

Notably, AI patents in India have gained a lot of traction over the last five years making India an emerging destination for AI-related Innovation.

Source: “AI Patents – Driving Emergence of India as an AI Innovation Hub

AI is becoming a key technology that is solving a lot of challenges in the new normal and thus is making way for more innovation and IP Creation. To know more about the patent filing trends in India read NASSCOM’s recently launched report “AI Patents – Driving Emergence of India as an AI Innovation Hub

 

 

 


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Neha Jain
Senior Analyst

Neha Jain

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