The global oil & gas industry experienced a 12% rise in the number of artificial intelligence-related patent applications in Q2 2023 compared with the previous quarter. The total number of artificial intelligence-related grants rose by 6% in Q2 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 305 in Q2 2023, versus 273 in the prior quarter.
The top five companies accounted for 52% of patenting activity
Analysis of patenting activity by companies shows that Halliburton filed the most artificial intelligence patents within the oil & gas industry in Q2 2023. The company filed 50 artificial intelligence-related patents in the quarter, compared with 23 in the previous quarter. It was followed by Schlumberger with 38 artificial intelligence patent filings, Saudi Arabian Oil (30 filings), and China Petrochemical (21 filings) in Q2 2023.
Patenting activity was driven by the US with a 43% share of total patent filings
The largest share of artificial intelligence related patent filings in the oil & gas industry in Q2 2023 was in the US with 43%, followed by China (19%) and South Korea (5%). The share represented by the US was 18% higher than the 25% share it accounted for in Q1 2023.
To further understand GlobalData's analysis on Artificial Intelligence (AI) Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026 buy the report here.
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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.
