Artificial Intelligence (AI) Innovation Report
According to the recently released NASSCOM report, India has now become an artificial intelligence innovation hub.
With a significant increase in AI-based innovation over the past five years, India ranks among the top 10 countries on the basis of having the highest number of patents on artificial intelligence.
Artificial intelligence (AI) is the simulation of human intelligence systems by machines, especially computer systems.
Benefits of increasing patent applications:
- This provides protection against copying of the innovation.
- Patents help in monetizing innovation.
- These act as an entry barrier to competition, encouraging more innovation and patent applications.
Challenges: The patent process takes longer time to complete. It should be noted that there is a gap of about 4 years between a patent application and their eventual acceptance.
Measures to meet the challenges:
- A coalition of stakeholders should be established to provide mentorship and guidance support to start-ups and small companies.
- Efforts should be made to create awareness on the importance of patent applications. Provisions should be made for the prevention of inefficiencies in the patent trial process.
- A patent is an exclusive right granted to an invention, product or a process. These inventions or products or processes provide a new way of doing a task or a new technical solution to a problem.
- Patents are considered one of the primary ways to measure innovation. AI accounts for 6 percent of all emerging technology patents in India.
Source – The Hindu