Innovation

Innovation refers to the process of creating and implementing new ideas, products, services, or methods that improve or transform existing systems, processes, or ways of thinking. It encompasses the generation of novel concepts as well as the practical application of those ideas to solve problems or enhance efficiency and effectiveness. Innovation can occur in various forms, including technological advances, improved business practices, and creative solutions to societal challenges. It often involves risk-taking and experimentation, as the outcomes may be uncertain. Ultimately, innovation is a key driver of economic growth, competitiveness, and progress across different sectors.