As important as advanced technology innovation is, its rewards are not distributed evenly. Not every region in the United States has what it takes to be a technology innovation hub like Silicon Valley, and not every U.S. worker currently can get a high-paying, secure technology job working at Google.
The total score for each country--and thus the final overall ranking--is based on 81 criteria, collected under 7 ‘pillars’ that in turn represent 2 overarching sub-indices. The five pillars under the Innovation Input Sub-Index are: 1) institutions, 2) human capital and research, 3) infrastructure, 4) market sophistication, and 5) business sophistication, all of which address elements of the national economy reflecting innovative activities.
It’s challenging to track the breathless pace and breadth of all the emerging technology making it increasingly easy and exciting to collect and share information and images about ourselves, each other and the world we experience. But if you are taking note of the rapid growth, you might well wonder: Where are we heading? How will life change?
Switzerland, Sweden, the Netherlands, the USA and the UK are the world’s most-innovative countries, while a group of nations including India, Kenya, and Viet Nam are outperforming their development-level peers, according to the Global Innovation Index 2017 co-authored by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).
It’s easier to change an organization’s technology stack than its culture or talent pool, and for banks, sometimes the biggest obstacle isn’t technology or regulation, it’s force of habit. Wells Fargo and Citibank know that now. Both banks have created dedicated innovation units within their organizations in 2015.
Today, we use our phones to do everything from hail rides to find dates to avoid any and all eye contact on public transportation. Of course, there were and are other smartphones out there, but it is hard to argue with how the iPhone has captured the consumer imagination with the potent combination of Apple’s technology, secrecy and flair for design.
Many talk about and plan for an Internet of Things (IoT) future, but they don’t truly understand the true power of its capabilities. Predictions suggest that IoT will have as much impact on human lives, governments, businesses and institutions as the harnessing of water for steam power, the discovery of electricity and the computer age had on the generations before us.
Representing an updated and expanded version of Senator Coons’ STRONG Patents Act of 2015, the STRONGER Patents Act takes critical steps to improve the patent system. It treats patents like any other property, permitting injunctions to protect patent owners against infringement during and after court cases. It ensures fairness in Patent Office administrative proceedings, limiting repetitive and harassing challenges against inventors.
Robust private-sector investment and prudent regulation from policymakers have helped establish Maryland as a cradle of innovation and a leader in the U.S. innovation economy. Few states can match Maryland's highly skilled workforce, market access and technology-centered policy incentives, and the U.S. Chamber of Commerce ranked Maryland No. 1 in the country for entrepreneurship and innovation.