Industrial automation innovation among private banking firms fell last quarter

Industrial automation research and innovation in the private banking sector fell in the last quarter, but remains higher than it was a year ago.

The latest figures show that the number of industrial automation-related patent applications in the industry rose to 27 in the three months to April, compared to 17 in the same period of 2021.

Numbers of issued patents related to industrial automation followed a different pattern from filings – rising from 37 in the three months ending April 2021 to 32 in the same period in 2022.

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 subject areas and linked to key companies in various industries.

Industrial automation is one of the key areas tracked by GlobalData. It has been identified as a key disruptive force that companies will face in the years to come, and it is one of the areas where companies currently investing resources should reap rewards.

The numbers also provide insight into the biggest innovators in the industry.

Berkshire Hathaway Inc was the leading industrial automation innovator in the private banking sector during the past quarter. The US-headquartered company filed six industrial automation-related patents in the three months to April. This figure was up from three during the same period in 2021.

It was followed by China-based Jiangxi Bank Co Ltd with five industrial automation patent applications, US-based Apollo Global Management Inc (2 applications) and US-based The Allstate Corp (2 requests).

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