The global retail industry experienced a 22% decline in the number of artificial intelligence-related patent applications in Q2 2024 compared with the previous quarter. The total number of artificial intelligence-related grants dropped by 9% in Q2 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Retail: Patents Trends Q2 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of artificial intelligence-related patent applications in the retail industry was 693 in Q2 2024, versus 886 in the prior quarter.
The top five companies accounted for 13% of patenting activity
Analysis of patenting activity by companies shows that Capital One Financial filed the most artificial intelligence patents within the retail industry in Q2 2024. The company filed 28 artificial intelligence-related patents in the quarter, compared with 27 in the previous quarter. It was followed by Maplebear with 17 artificial intelligence patent filings, Alibaba Group (16 filings), and Fujitsu (16 filings) in Q2 2024.
Patenting activity was driven by the US with a 47% share of total patent filings
The largest share of artificial intelligence related patent filings in the retail industry in Q2 2024 was in the US with 47%, followed by China (7%) and Japan (2%). The share represented by the US was 5% higher than the 42% share it accounted for in Q1 2024.
For further understanding of GlobalData's Retail: Patents Trends Q2 2024, buy the databook here.
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