Machine learning is best skill set for data scientist jobs in India: report

India has made remarkable progress in the Global Innovation Index rankings by breaking into the top 40 for the first time, according to the annual report released Thursday by the World Intellectual Property Organization (WIPO). .

“India is the innovation leader in the lower middle income group. It continues to be the world leader in ICT services exports and ranks first in other indicators, including the value of venture capital proceeds, startup and scale-up funding, science and technology graduates. engineering, labor productivity growth and diversification of national industry,” the PMOI said in the report. .

Switzerland, the United States, Sweden, the United Kingdom and the Netherlands are the most innovative economies in the world. Emerging economies show consistent strong performance, notably India and Turkey, both entering the top 40 for the first time.

In the 2022 Global Innovation Index, India jumped to 40th position while Turkey is placed at 37th position. India has made steady progress in its ranking in the Global Innovation Index. India entered the top 50 for the first time in 2020 and found a spot in the top 40 this year.

The report shows that research and development (R&D) and other investments that drive innovative activity around the world continued to soar in 2021 despite the COVID-19 pandemic, but challenges are emerging in translating investments into innovation. innovation in impact.

The 2022 Global Innovation Index (GII), in its 15th edition this year, is published by WIPO, in partnership with the Portland Institute and with the support of our corporate network partners: the Confederation of Indian Industry (CII), the Brazilian National Confederation of Industry (CNI), Ecopetrol (Colombia) and the Assembly of Turkish Exporters (TIM).

“This year’s GII finds that innovation is at a crossroads as we emerge from the pandemic. While investment in innovation surged in 2020 and 2021, the outlook for 2022 is clouded not only by global uncertainties, but also by the continued underperformance of innovation-driven productivity.

That’s why we need to pay more attention not only to investing in innovation, but also to how it translates into economic and social impact. Quality and value will become as critical to success as quantity and scale,” WIPO Director General Daren Tang said in the report.

In its annual ranking of world economies on innovation capacity and production, the GII shows some key changes in the top 15 of the ranking, with the United States climbing to 2nd position, the Netherlands reaching 5th position, Singapore reaching 7th, Germany reaching 8th place and China moving up one place to 11th and just outside the top 10.

The world’s top R&D spenders increased their R&D spending by almost 10% to over $900 billion in 2021, more than in 2019 before the pandemic. This increase is mainly attributable to four industries: computer hardware and electrical equipment; ICT software and services; pharmaceuticals and biotechnology; and construction and industrial metals.

Investment in global R&D in 2020 increased at a rate of 3.3%, but slowed from the historically high growth rate of 6.1% in R&D recorded in 2019. Government budget allocations for the least developed economies spenders on R&D showed strong growth in 2020.

For 2021 government R&D budgets, the picture was more mixed, with spending growing in the Republic of Korea and Germany, but falling in the United States and Japan, the report said. Venture capital (VC) deals soared 46% in 2021, recording levels comparable to the internet boom years of the late 1990s.

The regions of Latin America and the Caribbean and Africa are experiencing the strongest growth in venture capital. VC’s outlook for 2022 is more restrained, however; the tightening of monetary policies and the effect on venture capital will lead to a deceleration of venture capital.

Sean N. Ayres