With products such as home pods and facial recognition, Artificial Intelligence (AI) is quickly becoming an integral part of our everyday lives and as a result, the industry is booming. It’s predicted that the AI market will become worth over an incredible $118 billion in just two years time, in 2022.
But which companies are leading the way in innovation when it comes to AI?
RS Components has analysed nearly 8,000 AI patent applications to reveal which countries and companies are leading the way in the AI race.
The top 10 patent offices that received the most AI patents are as follows:
| Rank | Country | Number of patent applications received |
| 1 | China | 4636 |
| 2 | United States of America | 1416 |
| 3 | Republic of Korea | 532 |
| 4 | India | 243 |
| 5 | European Patent Office | 116 |
| 6 | Australia | 79 |
| 7 | Japan | 71 |
| 8 | Singapore | 18 |
| 9 | Russian Federation | 13 |
| 10 | United Kingdom | 8 |
China is leading the way with a huge 4636 AI patent applications, almost 4 times as many as the United States of America, who have placed 1416 patent applications in two years. These results come as no surprise with further reports also highlighting that more than half of all patent applications now come from Asia – which explains the Republic of Korea, India, Japan and Singapore all featuring in the top ten.
You can view the full report here.
