Research and innovation in artificial intelligence in the major banks, central banks, and non-bank competitors sector has declined in the last year.

The most recent figures show that the number of AI related patent applications in the industry stood at 556 in the three months ending June – down from 1071 over the same period in 2021.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Figures for patent grants related to AI followed a different pattern to filings – growing from 259 in the three months ending June 2021 to 278 in the same period in 2022.

The figures are compiled by GlobalData, who track 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 thematic areas, and linked to key companies across various industries.

AI is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The figures also provide an insight into the largest innovators in the sector.

Ping An Insurance (Group) Company of China Ltd was the top AI innovator in the major banks, central banks, and non-bank competitors sector in the latest quarter. The company, which has its headquarters in China, filed 183 AI related patents in the three months ending June. That was down from 489 over the same period in 2021.

It was followed by the United States based Capital One Financial Corp with 95 AI patent applications, the United States based Bank of America Corp (43 applications), and the United States based PayPal Holdings Inc (41 applications).

Bank of Montreal has recently ramped up R&D in AI. It saw growth of 80% in related patent applications in the three months ending June compared to the same period in 2021 - the highest percentage growth out of all companies tracked with more than 10 quarterly patents in the major banks, central banks, and non-bank competitors sector.