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).