RWS report reveals the IP industry’s attitudes to AI
A new research report from RWS reveals that while 80% of IP professionals face mounting pressure to boost revenues and reduce costs, few are leveraging AI’s potential to transform their future.
According to 79% of respondents in RWS’s report ‘Why it’s time for IP to think bigger with AI,’ concerns around accuracy and reliability remain the biggest barrier to adoption. Additionally, 62% cite security and data protection as the second biggest barrier.
The report – which involved in-depth interviews with 312 global IP professionals across legal firms and corporates in 33 countries – investigates industry attitudes and expectations around AI and how professionals are embracing AI as part of their strategies.
“The IP sector has adopted a cautious approach to embracing AI,” said James Lacey, SVP at RWS. “However, a number of IP professionals have identified that, when AI is combined with human expertise, it can reshape how IP teams operate, scale and deliver value.”
While only 34% of IP professionals have actively moved into operational or regular use of AI, several use cases have emerged from their adoption. These include using AI for ‘filing ready’ patent translations, patent drafting, patent database optimization and patent / trademark prosecution.
Interestingly almost one in ten (8%) of those questioned describe themselves as having no interest in or plans for AI. And when asked the expected benefits of AI, efficiencies, better automation and productivity were singled out by IP professionals.
Read the full report Why it’s time for IP to think bigger with AI.
Explore AITechPark for the latest advancements in AI, IOT, Cybersecurity, AITech News, and insightful updates from industry experts!