The private banking industry has seen a decline in robotics research and development over the past year.

According to the most recent data, the number of robotics-related patent applications in the industry decreased from 29 during the same time period in 2021 to 7 in the three months ending in June.

Similar to filings, figures for robotics patent grants decreased from 21 in the three months ending June 2021 to 15 in the same period in 2022.
GlobalData, which keeps track of patent filings and grants from official offices around the world, compiles the figures. These patents are organized into key thematic areas through the use of textual analysis in addition to official patent classifications. They are also linked to important companies in various industries.

Robotics in Insurance Market as one of the most important fields. It is one of the areas in which businesses investing resources now are anticipated to reap rewards and has been identified as a key disruptive force facing businesses in the coming years.

The figures also shed light on the industry's most significant innovators.

In the most recent quarter, Ping An Insurance (Group) Company of China Ltd. was the leading private banking innovator in robotics. In the three months that ended in June, the Chinese-based company filed three patents related to robotics. That was down from six during the same time frame in 2021.

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It was followed by one robotics patent application from Bank of America Corp. in the United States, one application from CTBC Financial Holding Co. in Taiwan, and one application from The Allstate Corp. in the United States.