WIPO has released the 2022 Global Innovation Index with Switzerland once again placing first, for a 12th year in a row. The United States has climbed to take second position and the United Kingdom has stayed in fourth, the same as in 2021. Even though there was an expectation for a decrease in R&D after the COVID-19 pandemic, this has not been the case for many of the large corporate companies, with there being an almost 10% increase in R&D in 2021, reaching a figure of over $900 billion in 2021. Some countries increased their R&D budget spending for 2021, such as Germany, while other such as Japan and the United States didn’t. Intellectual Property filling also continued to increase in 2021 with a rise of 15%. Data was also found that 26 countries are outperforming their development with innovation, including countries such as India and Indonesia.
The Global Innovation Index predicts two new innovation waves to come, contradicting those who believe innovation driven growth is going to stay at a low. The Digital Age innovation wave and the Deep Science innovation wave are predicted to be the next two biggest breakthroughs in innovation, but it is well accepted that these will take time. The Digital Age innovation wave would focus on automation and artificial intelligence, while the Deep Science innovation wave is thought to look at bio- and nanotechnologies which would revolutionise science.
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