AI patenting and employment: evidence from the world's top R&D investors

For assessing the overall impact of Artificial Intelligence (AI), it is crucial to continuously monitor large corporations. This paper delves into the examination of 42 corporations that rank among the world's largest investors in R&D, accounting for over one-third of AI patents globally. The focus is on their post-patenting performance, specifically in terms of employment changes, and comparing it with the outcomes of 42 similar companies operating in the same sectors. The latter also recorded substantial levels of R&D expenditures but were not significantly involved in AI patenting. The key findings reveal that, in the medium - and high-tech manufacturing sectors, companies with the highest proportions of AI patents incurred in employment reductions. Conversely, IT services companies experienced substantial employment growth. Along with tentative explanations of these findings, advantages, limitations, and possible developments of this type of analysis are illustrated in the concluding section.