08:14 AM EDT, 03/12/2024 (MT Newswires) -- Kinaxis Inc. ( KXSCF ) said Tuesday that its patent portfolio has grown by more than 500% while noting that 55% of its current portfolio comprises innovations based on AI and machine learning (ML).

The company said the increase was driven by its investments in research and development as part of its commitment to strengthen its leadership position as a trusted technology provider to chief supply chain officers globally.

As part of a robust innovation program, Kinaxis ( KXSCF ) said it continues to roll out a steady stream of AI- and ML-powered capabilities, which empower its 40,000 users to build the most intelligent supply chains on the planet.

"Kinaxis ( KXSCF ) has always been about making life easier for the people behind supply chains and the people they serve, and our patent portfolio is a strong indicator of our success innovating in this space," said Chantal Bisson-Krol, vice president of AI and ML solutions at Kinaxis ( KXSCF ).

The company noted that its technology helps companies supply the agricultural industry with 40% of the world's tractors, helps keep more than 110,000,000,000 teeth clean each year, and ensures more than 35 million pets are fed nutritious meals each year.