A joint study by the European Patent Office (EPO) and the European Investment Bank (EIB) on what we call “Deep Tech” in smart connected technologies was released today, according to a statement from the Industrial Property Organization (OIB). “identifies unique obstacles faced by small businesses (SMEs) in the development of advanced digital technologies in the European Union”.
As mentioned in the announcement, technologies such as Cloud, Internet of Things (IoT), 5G networks and Artificial Intelligence (AI), which are often described as technologies of the 4th Industrial Revolution (4IR), are an important part of Deep Tech. After the Digital Revolution, the 4th Industrial Revolution refers to the way in which these new technologies combine the natural, digital and biological worlds.
This new study, as noted, offers recommendations for further stimulating the growth of EU business and promoting “deep technological innovation” in the European Union.
Despite strong patent activity, EU countries are the least specialized in 4IR technology innovation in terms of overall innovation capacity.
In contrast, leading global innovation hubs such as the United States, Japan, China and South Korea are highly specialized in this field.
Those interested can find the entire study at the OBI website.
Source: AMPE
Source: Capital
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