The IP market is currently filled with R&D waste and corporations that hold onto vast patent portfolios. This stifles innovation. If it were more transparent and accessible, then it follows that invention would be more forthcoming; Lexit and Loci are two startups developing the tools to do exactly that.
It costs a lot to quickly process patent applications, and even more to ensure that what you are filing for is new and unique. The first-to-file system favors large companies to no small degree; just conducting a thorough search of existing patents costs money, while there is no guarantee that months of research will not be swallowed by a system that carries inherent risk.