IBM Breaks Innovation Record In 2016

International Business Machines Corp.IBM continued its remarkable innovation streak after securing 8,088 U.S. patents in 2016. It marks the 24th consecutive year IBM earned the most patents of any other company.

While IBM may have taken a backseat in the conversation of technology, there's no doubt the company can continue to innovate. According to a report by VentureBeat, 2016 marks the first time a company was able to claim more than 8,000 patents in a single year. Its closest competitor was Samsung Electronics SSNLF, after securing 5,518 U.S. patents.

Around 2,700 of IBM’s 2016 patents were related to artificial intelligence, cognitive computing, and cloud computing. IBM has been making a notable shift towards cloud and cognitive computing as analysts will monitor these segments closely as the company releases its fourth quarter earnings on January 19.

“Leading the world in innovation for 24 years in a row is a result of IBM’s unmatched commitment to innovation and R&D–reflected in this year’s new U.S. patent record, breaking the 8,000 barrier for the first time,” IBM CEO Ginni Rometty said in a statement.

IBM spends $5.4 billion annually on research and development.

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