New AI tool by MIT predicts how fast any technology is improving

A team led by a researcher of Indian origin at the Massachusetts Institute of Technology (MIT) developed a new artificial intelligence (AI) tool that can predict how fast a technology is improving and help companies manage research and development ( R&D).

The study, recently published in the journal Research Policy, shows predicted rates of improvement for 1,757 technology areas, covering 97.2 percent of the US patent system.

Researchers found that the fastest-improving technologies are primarily software-related, especially those associated with network management, corporate security, and media transmission.

“As technologists, we constantly have to choose between technologies. Often times, few technologies attract a lot of attention because of the hype around them,” said study director Anuraag Singh of MIT.

“However, rapidly improving, more promising technologies are being ignored. We want to bring realism and objectivity into technological decision-making,” said Singh in a statement.

The researchers also created a startup called Technext to help companies anticipate technological advances, breakthroughs, and disruptions.

They also developed a free, publicly available tool for academic readers to use the system.

The study builds on roughly two decades of research at MIT begun by Professor Christopher L. Magee, one of the study’s co-authors.

It used machine learning, patent network analysis, and empirical technology performance data to predict the future potential of each technology.

The researchers, including Giorgio Triulzi of the University of The Andes at Columbia, note that the most important technical innovation in the study is the early identification of technological breakthroughs, bottlenecks and threats.

This helps companies get out of date, improve research and development effectiveness, and increase revenue by developing new products or services, they said.

The tool can be useful in making more efficient use of the $ 2.2 trillion in annual global R&D funding by helping organizations avoid over-hyped technology and research with little potential, the researchers added.