Yesterday was the final day of the Consumer Electronics Show (CES), the world's largest tech trade show, which has been offering a glimpse into the future of consumer tech for more than 50 years. This year's show, attended by roughly 100,000 tech enthusiasts, included color-changing cars, urine-scanning devices and an oven that prevents burnt food.
The innovation acceleration...
Many of the innovative technologies displayed at CES are likely covered by a patent — and digging through patent filings is a good way of picking up on future tech trends. Filings mentioning "metaverse", for example, have risen significantly, as have those mentioning "foldable technology", "electric vehicles" and "sustainable technology".
The total number of patents filed in the US has also risen, with record numbers being granted in recent years. That trend has also been reflected globally, with 2021 setting a new global record number of IP filings for patents, trademarks and designs to protect innovations — with Asia filing 64% of the 1.7 million patents filed worldwide.
... or just a paperwork pile-up?
Preparing a patent submission usually requires lawyers or experts, and total costs can routinely run into the many thousands for complex ideas or submissions. That is why tech giants, who can monetize their intellectual property more efficiently than individual inventors, always top the patent tables.
Interestingly, IBM — which topped the patent league tables for 29 years in a row before losing its crown to Samsung — has just switched tack. The company dropped its patent count by 44% last year in a bid to free up resources from the time-consuming patent process.
