Kicking off the world's largest technology trade show, CeBIT 2009, Craig Barrett, chairman, Intel Corp, stressed on the need for innovation and investment in technology to ensure economic prosperity.
"There are three gauges nations can tune to compete. Investing in good education produces smart people. Investing in research and development produces smart ideas. And creating the right environment in which smart people can develop smart ideas. These steps would stimulate economic growth, jobs and new opportunities including future collaborations among private industry, government and academia," Barrett said
Countries that invest wisely in technology are better equipped to deal with those challenges, while countries that ignore or delay such investments are likely to find themselves at a global disadvantage, Barrett said.
"In the current global economic climate, thinking long-term is more important than ever," Barrett said, adding, "Today, we can lay the groundwork for growth. Many nations and businesses try to save their way out of a recession. It is much better to invest our way out."
Barrett said that investing in new ideas and inventions not only stimulates job creation, but also increases productivity, leads to new forms of energy and smarter energy consumption.
