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Filings buzz: 11% decrease in the future of work mentions in Q3 of 2021

Data

Mining innovation has dropped off in the last year

Research and innovation in machine learning in the operations and technologies sector has declined in the last year

Data

Machine learning and modernisation: mining innovation has dropped off in the last year

Research and innovation in machine learning in the mining industry operations and technologies sector has declined in the last year

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02/17/2024 13:15:21

DATA

Machine learning and modernisation: mining innovation has dropped off in the last year

Research and innovation in machine learning in the mining industry operations and technologies sector has declined over the last 12 months.

The most recent figures show that the number of related patent applications in the industry stood at 12 in the three months ending December. down from 41 over the same period in 2020.

Figures for patent grants related to followed a similar pattern to filings, shrinking from eight in the three months ending December 2020 to four in the same period in 2021.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas and linked to key companies across various industries.

Machine learning is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

The figures also provide an insight into the largest innovators in the sector. Honeywell International was the top innovator in the mining industry operations and technologies sector in the latest quarter. The company, which has its headquarters in the US, filed 12 related patents in the three months ending December. That was down from 72 over the same period in 2020.

It was followed by the US-based Caterpillar with four patent applications, the US-based ITT (three applications), and Japan-based Nippon Steel (two applications).

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02/17/2024 05:59:34

DATA

Filings buzz in the mining industry: 11% decrease in the future of work mentions in Q3 of 2021

Mentions of the future of work within the filings of companies in the mining industry fell 11% between the second and third quarters of 2021.

In total, the frequency of sentences related to the future of work between October 2020 and September 2021 was 614% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.

When companies in the mining industry publish annual and quarterly reports; environmental, social and governance reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years.

The future of work is one of these topics – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether the future of work is featuring more in the summaries and strategies of companies in the mining industry, two measures were calculated. Firstly, we looked at the percentage of companies that have mentioned the future of work at least once in filings during the past 12 months, which was 58% compared to 10% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to the future of work.

Of the 50 biggest employers in the mining industry, Magnitogorsk Metallurgicheskiy Kombinat was the company that referred to the future of work the most between October 2020 and September 2021. GlobalData identified 34 future of work-related sentences in the Russia-based company's filings, 0.3% of all sentences.

Tata Steel mentioned the future of work the second-most; the issue was referred to in 0.2% of sentences in the company's filings. Other top employers with high future of work mentions included Anglo American, Honeywell International and MMC Norilsk Nickel.

Across all companies in the mining industry the filing published in the third quarter of 2021 that exhibited the greatest focus on the future of work came from South32. Of the document's 1,419 sentences, seven (0.5%) referred to the future of work.

This analysis provides an approximate indication of which companies are focusing on the future of work and how important the issue is considered within the mining industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning the future of work more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into the future of work have been successes or failures.

GlobalData also categorises the future of work mentions by a series of subthemes. Of these subthemes, the most referred-to topic in the third quarter of 2021 was "collaboration tools", which made up 57% of all future of work subtheme mentions by companies in the mining industry.

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02/17/2024 05:59:42