It ranks as the most innovative economy anywhere in the world, but the information technology industry in the United States is worse off than it is in the United Kingdom. Both the US's infrastructure and general ICT are only the tenth best in the world, behind the UK's in 9th, says a new study by INSEAD, the Paris-based business school. But the Global Innovation Index's primary aim is to internationally rank 130 economies on innovation, of which 'IT sophistication' is just one of five parameters tested.
As a result, and once factors such as skills, policies and market sophistication are considered, the US is the most innovative, followed by Germany, Sweden and then the UK in fourth. Innovation, as the index defines, is the total capability of an economy to create ideas, develop them, take them to market successfully and use them to create social and economic value. 'Innovation is more than ICT,' Soumitra Dutta, the dean of external relations at INSEAD and the lead author the index's report, told CUK.