No technological competition seems more pressing than the global struggle for artificial intelligence (AI) superiority. While the U.S. once dominated AI research, China has made it clear in recent years that they are aggressively working to catch up to (and then eclipse) its rival in the West.
CMOs need to create a digital marketing research and development (R&D) team that explores new approaches to major challenges — by building and testing experimental go-to-market solutions.
Source: Digital Lifescapes
From January 2014 to January 2015, Network Functions Virtualization (NFV) evolved from an interesting industry R&D concept to an investment target for telecom service providers. Network operators will begin redirecting capex to NFV, accumulating spending of more than $90 billion over the next three years. Tier 1 operators will also begin production deployments in 2015.
The latest OECD estimates of research & development (R&D) expenditure growth show that China has edged ahead of the European Union for the first time in terms of investment in R&D. China invested 1.98% of its GDP in R&D in 2012, compared to 1.97% for the European Union.
The data also shows that South Korea ranks first among OECD countries in terms of R&D spending to GDP — a position long held by Israel.
Innovation is a key to business success, but where innovation comes from is changing. Today’s firms are looking beyond R&D to drive innovation. They invest in a wider range of intangible assets — such as data, software, patents, designs, new organizational processes and skills.
Together these non‑physical assets make up knowledge‑based capital (KBC). Studies for the European Union and the United States show business investment in KBC contributing 20% to 34% of average labor productivity growth.