Executives from global corporations operating in India predict that artificial intelligence would greatly increase patent creation and innovation at the country’s Global Capability Centers (GCCs). Industry experts claim that AI tools are assisting workers in shifting their attention from repetitive jobs to high-value research, product development, and the creation of intellectual property. 

AI is speeding up the production of patents, trade secrets, and proprietary technology at their India-based research centers, according to executives from firms like IBM, Daimler Truck, and Kimberly-Clark. 

Industry statistics state that while patent filings in India increased by more than 11% to over 90,000 in FY24, Indian GCCs brought in close to $98.4 billion in revenue last fiscal year. Many ideas developed in India are frequently registered through parent companies in the US and Europe, according to executives. 

Companies did, however, also draw attention to issues with India’s patent ecosystem, such as procedural complexity, a lack of patent examiners, and clearance delays. According to industry analysts, efficiency has increased as a result of recent digitization initiatives and online filing systems. 

Businesses are hopeful about India’s expanding role as a worldwide center for innovation and AI research in spite of these obstacles. 

Source – The Economic Times