Thursday, 26 January 2017

Lifting the lid: uncovering innovative technology in 2017

New tech: what
treasures lie within?
In this, the second in a series of articles, with the aid of Cipher we can cast a light on what is next for the technology industry. With the pace of innovation and global competition increasing year-on-year, businesses are constantly seeking to surpass their competitors by launching new and innovative technologies into the market.  What does this mean in real terms? Read on ...
Uncovering innovative technology in 2017

With the pace of innovation and global competition increasing year-on-year, businesses are constantly seeking to surpass their competitors by launching new and innovative technologies into the market. Research from StartUp Britain, a government-backed national enterprise campaign, shows that the number of new businesses registered with Companies House last year equates to approximately 80 companies every hour. Added to this, statistics from WIPO show that in addition to the 10.6 million patents currently in force, applications have grown for a sixth consecutive year to 2.9 million (up 7.8% from 2015). It is increasingly difficult for even the most well-resourced organisations to see the wood for the trees.

As 2017 gets under way, it comes as no surprise to see that companies are set to increase their spend on big data and business analytics by more than 50%, as data-enabled leaders are three times more likely to improve their decision making.

In a crowded market, data relating to innovation and trends will be the key to success. The only clean, digitised and publicly available data related to innovation is found in the patent domain. And yet patent data are vast, unstructured and disconnected, making them underutilised sources of business intelligence. Cipher is the market-leading innovation analytics tool, which aggregates the world’s patent-related data and applies cutting-edge artificial intelligence and machine learning. This allows you to instantly evaluate organisations, their innovation focus over time, and how they compare with the wider technology landscape.

Using a hosted service like Cipher means you can
• Harness the most advanced data science ever applied to IP data
• Identify and evaluate organisations and their technologies
• Evaluate emerging technology landscapes
• Uncover organisations with overlapping technologies
• Benchmark your performance or technology focus relative to peers
To demonstrate the power of these cutting-edge analytics for strategic decision-making, we’ve chosen three examples of technologies that dominated news in 2016 and are likely to continue to do so in 2017.
Industry 4.0 (“The internet of things”) 
The next industrial revolution has already begun and there is broad consensus it will consist of a number of converging technologies, e.g. sensors, RFID, cloud computing, 3D printing and robotics. But how do you make sense of such an opaque and disparate technology landscape? Is there such a thing as an “Industry 4.0” company and will the US continue to dominate in 2017? 
Some industry 4.0 technologies have seen their peak already. 
3D printing and robotics are growing. See our report on AR here

Since 2012 China has been a leader in innovation output, placing it in an increasing position of influence.

Augmented Reality (AR) 
2016 saw Pokémon Go, an AR game, explode with over 100 million downloads. But was it a one-off or will everyone get on the AR bandwagon? Could the 2016 spike have been predicted and what area of AR will take off in 2017?

Head-mounted displays and image processing seem to be where people place their technology bets. 
Improving people’s lives is an idea as honourable as it is old; however, the recent advances in materials science, e.g. carbon and electronics, means the prosthetics market is undergoing a seismic change as more move into bionics and exoskeletons.
Our 2015 report on prosthetic patents can be accessed here
Innovation growth in orthopaedics is now dwarfed by the surge in bionics and exoskeletons. Will 2017 be the year it finally becomes mainstream? 
Cipher’s highly visual and practical approach makes strategic insights from patent data accessible to all. Breaking down barriers by opening up IP to non-specialists will be transformative for organisations that adopt IP analytics in 2017. Greater understanding and collaboration at all levels of business enables innovation to flourish, helping organisations focus on what matters and make better decisions.
This post can also be accessed on the Aistemos website here, where it was first published last week. 

The first post in this series, "Why is IP being left behind in the Boardroom", can be accessed here.

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