The global oil & gas industry experienced a 34% 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 26% in Q1 2023, according to GlobalData’s Patent Analytics. The growing application of Artificial Intelligence will prove to have a transformative impact across oil & gas 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 oil & gas industry was 136 in Q1 2023, versus 206 in the prior quarter.
The top five companies accounted for 43% of patenting activity
Analysis of patenting activity by companies shows that Schlumberger filed the most artificial intelligence patents within the oil & gas industry in Q1 2023. The company filed 16 artificial intelligence-related patents in the quarter, compared with 17 in the previous quarter. It was followed by BASF with 15 artificial intelligence patent filings, China Petrochemical (12 filings), and Halliburton (9 filings) in Q1 2023.
Patenting activity was driven by China with a 24% share of total patent filings
The largest share of artificial intelligence related patent filings in the oil & gas industry in Q1 2023 was in China with 24%, followed by the US (10%) and Japan (7%). The share represented by China was 13% lower than the 37% 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.
