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This study supports the labour-friendly nature of product innovation among developers of artificial intelligence (AI) technologies. GMM-SYS estimates on a worldwide longitudinal dataset covering 3,500 companies that patented inventions related to AI technologies over the period 2000-2016 show a positive and significant impact of AI patent families on employment. The effect is small in magnitude and limited to service sectors and younger firms, which are front-runners of the AI revolution. We also detect some evidence of increasing returns suggesting that innovative companies more focused on AI technologies are those obtaining larger impacts in terms of job creation. ispartof: FEB Research Report MSI_2306 pages:1-36 status: published

Economic activities based on the invention, production and distribution of artificial intelligence (AI) technologies have recently emerged worldwide. Yet, little is known about the innovative activities, location and growth performance of AI innovators. This chapter aims to map and analyse the global innovative landscape of AI by exploring 155,000 patents identified as AI-related by means of text-mining techniques. It highlights the emergence and evolution of AI technologies and identifies AI hotspots across the world. It explores the scale and pervasiveness of AI activities across sectors, and evaluates the economic performance of AI innovators using firm accounting information. Finally, it assesses recent trends in venture capital investments towards AI as financial support to promising AI startups. Findings of this chapter reveal a tremendous increase in AI patenting activities since 2013 with a significant boom in 2015-2016. While most of AI patenting activities remain concentrated in the sectors of software programming and manufacturing of electronic equipment and machinery, there are clear signs of cross-fertilisation towards (non-tech) sectors. The market of AI patenting firms is very vibrant and characterised by a large increase of new and small players with economic performances above industry average. This trend is also reflected by the recent increase in venture capital towards AI startups.

This paper explores the possible job creation effect of innovation activity. We analyze a unique panel dataset covering almost 20,000 patenting firms from Europe over the period 2003-2012. The main outcome from the proposed GMM-SYS estimations is the labour-friendly nature of innovation, which we measure in terms of forward-citation weighted patents. However, this positive impact of innovation is statistically significant only for firms in the high-tech manufacturing sectors, while not significant in low-tech manufacturing and services. ispartof: FEB Research Report - MSI_1603 nrpages: 27 status: published

This paper explores the possible job creation effect of innovation activity. We analyze a unique panel dataset covering almost 20,000 patenting firms from Europe over the period 2003-2012. The main outcome from the proposed GMM-SYS estimations is the labour-friendly nature of innovation, which we measure in terms of forward-citation weighted patents. However, this positive impact of innovation is statistically significant only for firms in the high-tech manufacturing sectors, while not significant in low-tech manufacturing and services.