Identifying Technology Opportunity Using a Dual-attention Model and a Technology-market Concordance Matrix

To understand the role of new technologies in innovation, it is crucial to develop a methodology that links technology and market information. Conventionally, the relationship between technology and the market has been analyzed using a technology-industry concordance matrix, but the granularity of market information is confined by industrial classification systems. In this study, we propose a new methodology for extracting keyword-level market information related to firms’ technology. Specifically, we developed a dual-attention model to identify technical keywords from firms’ websites. We then vectorized the market information (extracted keywords) and technology information (patents) using word embedding to construct technology-market concordance matrices. Matrices were generated based on a group of high-growth companies that suggest new technologies and market opportunities in the automotive, electronics, and pharmaceutical industries.

Forthcoming: Motohashi, Kazuyuki, and Chen Zhu. "Identifying technology opportunity using dual-attention model and technology-market concordance matrix," Technological Forecasting and Social Change.