China leading filer of blockchain and AI patents, says report
Chinese companies were the leading filers of blockchain and artificial intelligence (AI) patents at the World Intellectual Property Organization (WIPO) in 2017, according to figures published by accountancy firm UHY Hacker Young.
The survey was published today, January 21.
A total of 314 blockchain patents were filed with WIPO in 2017, 99 of them by Chinese businesses. US companies were the second most prolific, filing 92 blockchain patents.
The UK was the most active of any European country, with British businesses applying for 34 blockchain patents at WIPO.
According to UHY, although there have been relatively few global blockchain patents filed by European businesses, they have been more active at a local level.
Blockchain research firm nChain, with offices in London and Vancouver, was the single biggest filer, with 48.
Chinese companies also led the way in filing new AI patents with WIPO, accounting for 473 out of the 649 applications made to WIPO in 2017.
Baidu, a Chinese company which operates the world’s second largest search engine after Google, applied for 183.
According to Tsinghua University in Beijing, Chinese research institutes account for more AI patents than domestic businesses. The report, published last year, estimated that the value of China’s AI industry increased by 67% in 2017 to reach RMB 23.7 billion ($3.5 billion).
The US and South Korea followed behind China, with 65 and 41 patents respectively.
British businesses filed just two AI patents at WIPO in 2017. Andrew Snowdon, partner at UHY, said that the British government needs to ensure that more businesses pursue patent protection.
“It is important to note that many businesses can be reluctant to file patents due to the time it takes and the costs involved. Additionally, some businesses prefer to keep trade secrets for as long as possible to stay ahead of the competition,” Snowdon added.
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