What does technological innovation refer to?

Technological innovation refers to the process of developing and implementing new technologies or improving existing ones to enhance products, services, or processes. This can involve creating entirely new solutions or making significant advancements to current technologies, ultimately leading to increased efficiency, productivity, and competitiveness in various industries. To summarize, technological innovation encompasses the creation and enhancement of technologies that improve various aspects of life and business. It involves both the introduction of groundbreaking solutions and the refinement of existing technologies, aiming to boost efficiency and effectiveness across different sectors.