The competitiveness of the U.S. economy depends on technological progress, but recent data suggests that innovation is getting harder and the pace of growth is slowing down. A major challenge in business and policy spheres is to understand the environments that are most conducive to innovation. One way to do that is to look to history.
As tech innovations unfold, China is stacking up to the United States as a leading force. Global tech industry leaders indicated, in KPMG’s tech innovation survey, the United States and China are the world’s dominant tech epicenters with the greatest potential to develop disruptive technology breakthroughs that will have a global impact. The strong showing for these two mega-powers is relatively consistent with earlier KPMG surveys, although this year’s poll reflects a slight uptick for China—25 percent compared with 23 percent the prior year.
Though other countries have made significant strides in innovation development, the U.S. and China continue as the most promising markets for technology breakthroughs that have global impact, according to KPMG's 2017 global technology innovation report. Given their country ranking, it's not surprising that cities in the U.S. and China are expected to make up six of the Top 10 innovation hubs, outside of Silicon Valley/San Francisco, over the next four years.
Innovation is taking place at the local level. Across the U.S., cities are striving to become “Smart Cities,” which in its simplest form means applying information and communications technologies to urban challenges. While it is easy to get excited about the shiny objects that are permeating the Smart City conversation - such as driverless cars - it is also important to understand underlying and enabling technologies like 5G and the Internet of Things (IoT). They play an important role in creating cities of the future.
President Donald Trump promised to do many things during his presidential campaign, and since taking office, he has begun setting those plans into action. One of the things he did not really address during his campaign, however, is how he is going to reform and change the current US Patent system.
The new Republican chairman, speaking just two days after the two-year anniversary of the landmark Open Internet Order, pledged to approach regulation with a “light-touch” approach. He said the rules have stifled economic growth and investment in the broadband industry.
According to researchers around the world, there is increasing momentum from some of the world’s most innovative universities to align curriculum, research and overall mission to city development that specifically focuses on technology-based systems and services. In other words, progressive higher education is linking itself more than ever to the Internet of Everything.
Last year, The US Department of Transportation and the Obama administration unveiled the first-ever Federal guidelines safety checklist for semi and fully autonomous cars, and reactions are flooding in from both Detroit and Silicon Valley as auto manufacturers and tech giants decide what these benchmarks mean for the future of driverless transportation.
The American Competitiveness and Innovation Act is a much-needed and long-awaited update to the America COMPETES Act, a comprehensive bill aimed at ensuring America remains a global leader when it comes to science, research, and technology. The COMPETES Act was signed into law in 2007 as the product of collaboration between the George W. Bush Administration and a Democrat-controlled Congress.
As congressional leaders and the president continue discussing ways to stop the number of American jobs leaving the U.S., some believe innovation is the key to slowing this economic trend. In Chihuahua City, Mexico, there is a huge manufacturing base filled with American companies. What's there is a mix of big manufacturers such as Ford and Honeywell and the companies supplying those operations.