Innovation

Innovation refers to the process of developing and applying new ideas, methods, or products that improve upon existing solutions or create entirely new opportunities. It encompasses both the creative aspect of generating novel concepts and the practical implementation of these ideas to realize improvements in technology, processes, services, or experiences. Innovation can occur in various contexts, including business, technology, healthcare, and social systems, and often aims to enhance efficiency, effectiveness, and value for users or customers. It is a critical driver of progress and competitiveness in today’s rapidly evolving world.