AI innovations and financial performance: An examination of patent filings and revenue generation

Samad Abdul *

Department of Engineering Management, Christian Brothers University, Tennessee, USA.
 
Review
International Journal of Science and Research Archive, 2024, 12(01), 774–781.
Article DOI: 10.30574/ijsra.2024.12.1.0903
Publication history: 
Received on 12 April 2024; revised on 18 May 2024; accepted on 21 May 2024
 
Abstract: 
Artificial intelligence (AI) is increasingly becoming indispensable for businesses, offering numerous advantages to compete in today's dynamic market landscape. This study investigates the relationship between AI patent filings and firms' performance in revenue generation from a point of view, aiming to elucidate the impact of AI investments on revenue generation. Leveraging data from The United States Patent and Trademark Office (USPTO) and employing regression analysis, the research finds a significant correlation between firms with AI patent applications and their generated revenue. The findings underscore the importance of AI investments for financial outcomes and provide valuable empirical evidence for strategic decision-making by businesses and policymakers. Additionally, the methodological approach adopted in the study contributes to the methodological approach available for future research in the field of AI and business performance analysis.
 
Keywords: 
Artificial intelligence; Patent; Revenue; Innovation; Financial performance
 
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