The global retail industry experienced a 53% decline in the number of artificial intelligence-related patent applications in Q1 2023 compared with the previous quarter. The total number of artificial intelligence-related grants dropped by 35% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Artificial Intelligence will prove to have a transformative impact on the retail sector. GlobalData’s Artificial Intelligence (AI) Market report helps keep abreast of the latest trends in Artificial Intelligence, market opportunity forecast and the competitive landscape. Buy the report here.

Notably, the number of artificial intelligence-related patent applications in the retail industry was 474 in Q1 2023, versus 1,010 in the prior quarter.

The top five companies accounted for 18% of patenting activity

Analysis of patenting activity by companies shows that Alibaba Group filed the most artificial intelligence patents within the retail industry in Q1 2023. The company filed 53 artificial intelligence-related patents in the quarter, compared with 78 in the previous quarter. It was followed by Rakuten Group with 13 artificial intelligence patent filings, Capital One Financial (7 filings), and eBay (7 filings) in Q1 2023.

Patenting activity was driven by China with a 28% share of total patent filings

The largest share of artificial intelligence related patent filings in the retail industry in Q1 2023 was in China with 28%, followed by South Korea (22%) and the US (11%). The share represented by China was 28% lower than the 56% share it accounted for in Q4 2022.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.