{"id":17769,"date":"2022-05-25T15:41:28","date_gmt":"2022-05-25T13:41:28","guid":{"rendered":"https:\/\/www.fundacionbankinter.org\/?post_type=noticias&#038;p=17769"},"modified":"2025-12-01T23:18:40","modified_gmt":"2025-12-01T22:18:40","slug":"technological-innovation-future-combination-digital-biological-physical","status":"publish","type":"noticias","link":"https:\/\/www.fundacionbankinter.org\/en\/news\/technological-innovation-future-combination-digital-biological-physical\/","title":{"rendered":"Future technological innovation will come from the combination of the digital, the biological and the physical"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">What is technological innovation? What do we mean when we talk about it? Where does it point to? What will it be like in the future? We asked one of the world&#8217;s leading experts on innovation, <a href=\"https:\/\/www.fundacionbankinter.org\/en\/patronato\/soumitra-dutta\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Soumitra Dutta<\/strong><\/a>, trustee of the Bankinter Foundation of Innovation. Soumitra is Dean-elect of the <a href=\"https:\/\/www.sbs.ox.ac.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sa\u00efd Business School<\/a> at Oxford University and co-founder and editor of the <a href=\"https:\/\/www.wipo.int\/edocs\/pubdocs\/en\/wipo_pub_gii_2021.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Global Innovation Index<\/a> (GII).&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The concept of \u201ctechnological innovation\u201d is very broad. From your experience and your own point of view, how would you define it?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are two types of technological innovation \u2013 one that is <strong>technology led<\/strong> and another that is <strong>market led<\/strong>.&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The former includes innovations that are created by <a href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/research-development-and-innovation-three-drivers-of-a-global-transformation\/\" target=\"_blank\" rel=\"noreferrer noopener\">the invention of new technologies<\/a>. For example, the invention of the laser or more recently the CRISPR technology (a technology that can be used to edit genes) has opened up new innovation possibilities.&nbsp;&nbsp;<\/li><li>The latter includes innovations that the market needs and does not need new innovations but needs existing innovations to be combined in a cost-effective manner to satisfy market needs. Examples of this would be examples of <strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Frugal_innovation\">frugal innovation<\/a><\/strong> in India where existing technology is often used in simple manners <strong>to create cost effective solutions for emerging markets<\/strong>. <\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Where do you think technological innovation should be heading in the coming years?<\/strong>&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Technology is progressing at an exponential pace and there are no signs that this pace is slowing down. Both computation speed and the amount of data available is exploding at an exponential rate. Further <strong>we are witnessing a unique convergence of the digital, biological and physical revolutions<\/strong>.&nbsp; This will unleash a rate of new innovations and a myriad of different new possibilities in a way that we have not been witnessed before. The future is very bright in terms of innovation possibilities, and <strong>we should direct the focus of innovations on trying to use them to solve the <\/strong><a href=\"https:\/\/sdgs.un.org\/goals\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>SDG goals<\/strong><\/a>. We are leaving too many people behind even today \u2013for example, more than 40% of the world\u2019s population does not have access to the Internet even today-. This has to be changed. We have to be able to provide good education and quality healthcare to all \u2013 enabling us to meet many of the UN\u2019s SDG goals. All of <strong>this will require technological innovations and breakthroughs<\/strong>. This needs to be our focus in the coming years.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What trends in technological innovation do you consider most disruptive?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A lot of the focus on <a href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/what-is-innovation-definition-and-features\/\" target=\"_blank\" rel=\"noreferrer noopener\">innovation<\/a> within business and government in the past has been on <strong>incremental innovation<\/strong>. This is not surprising given the traditional attention paid to Total Quality Management and similar approaches such as <a href=\"https:\/\/en.wikipedia.org\/wiki\/Six_Sigma\" target=\"_blank\" rel=\"noreferrer noopener\">Six Sigma<\/a> in business. However, today with the exponential explosion in computation and data around us we are seeing <strong>disruptive innovations<\/strong> driven by data and computation to become more and more important.&nbsp; Further <strong>the trifecta combination of digital, biological and physical will open up new avenues of reconceptualizing innovation in our lives<\/strong> which was not possible earlier. For example, <a href=\"https:\/\/www.fundacionbankinter.org\/en\/ftf-informes\/digital-health\/#report-section-00\" target=\"_blank\" rel=\"noreferrer noopener\">human health solutions<\/a> will be programmed much like software systems with the use of gene editing technologies such as CRISPR. This is already happening to a significant degree with animals and plants but will extend to humans with more intensity in the near future (we already saw early signs of this with the rapid invention of the m-RNA Covid vaccines). A lot of exiting new innovations lie ahead!&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As Soumitra pointed out in a <a href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/global-innovation-resists-in-the-face-of-the-covid-19-pandemic\/\" target=\"_blank\" rel=\"noreferrer noopener\">recent interview<\/a>, <strong>technological innovation requires <\/strong><a href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/empresas-con-proposito-y-en-busca-del-mejor-talento\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>the best talent<\/strong><\/a><strong> and <\/strong><a href=\"https:\/\/www.fundacionbankinter.org\/en\/news\/research-development-and-innovation-three-drivers-of-a-global-transformation\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>R&amp;D<\/strong><\/a><strong> investments and efforts<\/strong>. During the pandemic, companies in software, Internet and communications technologies, and pharmaceuticals and biotechnology expanded their investments in innovation and increased their R&amp;D efforts, and it is from these areas that the greatest technological innovations are occurring and will occur.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u00cdndice Mundial de Innovaci\u00f3n 2021: La inversi\u00f3n en innovaci\u00f3n no frena por la pandemia\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/dIYvHBHNOHw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In the same interview, Soumitra gave us his vision of <strong>how to increase the quality and quantity of technological innovation in Spain<\/strong>:&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By making strong investments in three areas:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Universities, with training programs more focused on the most demanded profiles now and in the future.&nbsp;<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>R&amp;D&nbsp;<\/li><li>Creating ecosystems and clusters that connect universities, companies and entrepreneurs.&nbsp;<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">And focusing on:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>High tech&nbsp;<\/li><li>Biology and biotechnology&nbsp;<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Increasingly powerful technological innovations must be used to try to achieve the Sustainable Development Goals (SDGs), says Soumitra Dutta, editor of the Global Innovation Index. <\/p>\n","protected":false},"featured_media":17767,"template":"","meta":{"_acf_changed":false,"_oaas_summary":"Technological innovation encompasses a broad spectrum, primarily divided into technology-led and market-led innovations. Technology-led innovation arises from the creation of new technologies, such as lasers or CRISPR gene-editing, which open new possibilities. In contrast, market-led innovation involves combining existing technologies in cost-effective ways to meet market demands, exemplified by frugal innovations in emerging markets like India. Soumitra Dutta, a global innovation expert, emphasizes that technological progress is accelerating exponentially, driven by increased computational power and data availability. The convergence of digital, biological, and physical revolutions is poised to unleash unprecedented innovation, with a strong focus needed on addressing global challenges such as the UN\u2019s Sustainable Development Goals (SDGs), including universal access to education, healthcare, and the internet.\n\nDisruptive trends in innovation are increasingly data and computation-driven, moving beyond incremental improvements typical of past business practices. The integration of digital, biological, and physical domains is enabling breakthroughs such as programmable health solutions through gene editing and rapid vaccine development, as seen with mRNA COVID-19 vaccines. To foster innovation, especially in countries like Spain, Dutta advocates for substantial investments in universities with future-focused training, robust R&D ecosystems linking academia and industry, and prioritizing high-tech sectors like biotechnology. These strategies aim to enhance both the quality and quantity of technological innovation, ensuring it addresses pressing societal needs and drives transformative progress.","_oaas_audio_url":"https:\/\/www.fundacionbankinter.org\/wp-content\/uploads\/2025\/12\/summary-17769-1764627524.mp3"},"categories":[],"class_list":["post-17769","noticias","type-noticias","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Technological innovation will come from the combination of digital biological and physical<\/title>\n<meta name=\"description\" content=\"Increasingly powerful technological innovation must be used to try to achieve the SDGs, says Soumitra Dutta\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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