Intellectual property and artificial intelligence: what does the future hold?
Artificial intelligence is creating a seismic shift in the way that people interact with technology. Research institutions and for-profit companies are moving to patent the commercial aspects of this new area in a land grab which could see rights holders reap future benefits
Artificial intelligence (AI) has established itself as one of the next digital frontiers of innovation. Five years ago it supported only a $250 million market opportunity. However, with a compound annual growth rate (CAGR) of more than 50% since then, the market is now projected to reach between $35 and $50 billion by 2025. This growth has been attributed to value and adoption across many sectors, including healthcare, automotive, retail, education, industrial manufacturing, telecommunications, media and advertising, finance and security. McKinsey & Company’s Global Institute notes that there is already a widening gap between the market successes of early adopters and industry laggards. The latter need to access the right data ecosystems and work aggressively to match this new technology to a business case.
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