Is the automotive sector seeing the beginnings of an AI funding growth?
The automotive trade is seeing a rise in synthetic intelligence (AI) funding throughout a number of key metrics, in accordance with an evaluation of GlobalData knowledge.
AI is gaining an rising presence throughout a number of sectors, with high corporations finishing extra AI offers, hiring for extra AI roles and mentioning it extra often in firm stories at first of 2021.
GlobalData’s thematic strategy to sector exercise seeks to group key firm data on hiring, offers, patents and extra by matter to see which corporations are greatest positioned to climate the disruptions coming to their industries.
These themes, of which AI is one, are greatest considered “any subject that retains a CEO awake at night time”, and by monitoring them it turns into attainable to establish which corporations are main the best way on particular points and that are dragging their heels.
One space during which there was some improve in AI funding amongst automotive corporations is within the variety of offers. GlobalData present that there have been 14 AI offers in automotive within the first quarter of 2019. By the primary quarter of 2021, that quantity was 21.
Hiring patterns inside the automotive sector as an entire are pointing in direction of a rise within the stage of consideration being proven to AI-related roles. There was a month-to-month common of 644 actively advertised-for open AI roles inside the trade in April this 12 months, up from a month-to-month common of 293 in December 2020.
It’s also obvious from an evaluation of key phrase mentions in monetary filings that AI is occupying the minds of automotive corporations to an rising extent.
There have been 135 mentions of AI throughout the filings of the largest automotive corporations to this point in 2021, equating to 19.3% of all tech theme mentions. This determine represents a rise in comparison with 2016, when AI represented 13.5% of the tech theme mentions in firm filings.
AI is more and more fueling innovation within the automotive sector, significantly prior to now six years. There have been, on common, 227 automotive patents associated to AI granted every year from 2000 to 2014. That determine has risen to a mean of three,731 patents since then, reaching 8,360 in 2020.