Five Tips For Life Sciences Companies To Protect Their AI Technologies

#artificialintelligence 

Artificial intelligence (AI) has revolutionized many technology areas. As a few examples, it has already been instrumental in improving and enabling voice recognition algorithms, digital assistants, advertisement recommendation engines and financial trading applications.[1] Significant investment is being made for further development of this promising new technology, with R&D spending on AI predicted to reach $57.6 billion by the end of 2021.[2] Along with these R&D efforts, companies are also trying to protect and monetize their AI inventions, in some cases opting to seek patent protection. From 2002 to 2018, the number of AI patent applications filed with the United States Patent and Trademark Office (USPTO) more than doubled, from 30,000 to 60,000.[3] These R&D efforts are no longer limited to software companies.

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