The nexus between technology and prosperity
From understanding the mosaic of economic activity supported by the Internet; the business opportunities and regional impacts arising from the widespread connection to high-speed Internet; or the consequences of technology-enabled efficiencies for developing markets – the role of innovation and emerging of technologies needs to be considered by those seeking successful outcomes from future investment in many industries, sectors and even regions.
For example today, more than one third of real gross domestic product (GDP) in the US is driven by innovation industries, while in Japan and Korea, business spending on research and spending (as a percentage of GDP) currently exceeds that of Germany, ranked as one of the innovation leaders in the EU.
Innovation at the enterprise level, such as advances in wireless technology and the growth of cloud computing will lead to greater efficiency and productivity, while the emergence of previously unheard of industries, such as nanotechnology and biotech, are creating entirely new investment opportunities.
Access to technology will also be the key to more rapid advances in developing nations, while the power of social networks will enable energetic and nimble challenger brands to quickly grow market share and catch established and complacent market leaders unawares. Similarly, innovation and technology will strike a death knell to businesses unable to adapt, or so enamoured by their own product offering they are unable to imagine its future irrelevance.
For a more detailed analysis of this and other Nextrend themes, download the Nextrend brochure.