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Technology Competitiveness of Knowledge-Based Economies  (Technical Insights)

  • December 2013
  • 34 pages
  • Frost & Sullivan
Report ID: 1941676

Summary

Table of Contents

Emerging Technologies Empower Knowledge-Based Economies

Researh Outline

Knowledge-Based Economies generate economic value through knowledge creation / innovation; have strong focus on R&D; showcase an entrepreneurial culture. This research service focusses on the technology competitiveness of knowledge economies and what drives them.
The research service attempts to align with parameters from the World Bank’s assessment of knowledge economies. Highlights of developments and knowledge management structures in Finland, Sweden, USA, New Zealand, Canada are provided in the research service. Impact of technologies such as Augmented Reality, Haptics and Touch, Big data, cloud computing, Internet of things are discussed too.
This research service also provides inputs on knowledge-based economies of the future. The 2020 vision gives a picture of emerging technology developments and how they improve and impact knowledge-based economies. Factors contributing to 2020 vision such as monitoring mechanisms, government programs, economic growth models are highlighted.

Knowledge-Based Economies (KE)–A Sneak Preview

- Knowledge-Based Economies
- Generate Economic Value through Knowledge Creation / Innovation
- Have strong focus on R&D
- Showcase an Entrepreneurial Culture
- Recognition as a Knowledge-Based Economy is subject to the availability of various types of resources–
- Human Capital
- Physical Capital
- Organizational Capital
- Knowledge Economy is driven by four dimensions (inline with the World bank assessment of Knowledge Economies) -
- Economic and Institutional Regime
- Educated & Skilled Population
- Innovation System
- Information and Communication System Technology

How KEs Empower Technology Development, Implementation, and Promotion?

Economic and Institutional Regime
-Nurtures an economic environment to promote growth
-Encourages, promotes and aids entrepreneurship

Educated and Skilled Population
-Education Transformation initiatives
-Knowledge Sharing systems and processes

Innovation System
-Strong Focus on Innovation
-Promotion of Innovative Culture
-Initiatives driving Networked Innovation

Information and Communication Technology
-Information Management and Distribution through ICT implementation
-ICT systems for Knowledge Broadcasting and Processing

Key Identifiers of Knowledge-Based Economies

Canada
The Canadian Government acts as an agent to reduce the barriers of interaction among various R&D centers, MNCs, Universities and Corporate Research hubs
ICT consortiums have identified interactive IT as a field of focus towards strengthening Canada as a knowledge hub

New Zealand
Technology acquisition and workforce management has propelled New Zealand (NZ) as a strong business process improvement hub. Focus is on optimizing existing processes. Key industries contributing to KE success are Automation, business processes and management software

Finland
Growth of Market Adjacencies propelled by Innovations stemming from strong research base in telecommunication empowers Finnish economy

USA
Government funding programs, prevalence of technology transfer offices, entrepreneurial culture leading to spin-offs, innovativeness and the drive to adopt them defines USA’s competitiveness as a Knowledge-based economy

Sweden
Universal Interconnectivity Model to provide broadband access to all powers Sweden's technology competitiveness

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