Technology has improved all aspects of the human life and raised standards of living across the world. From household appliances allowing us to be more efficient in taking care of our homes, to the internet allowing us to access the world's data from the comfort of our homes, technology is intrinsic to human development. The world today is absolutely unrecognizable compared to just a decade ago, with major leaps in technologies whose scope and potential benefits cannot even be quantified right now. Breakthroughs have been made in several fields including augmented reality, blockchain, 3D printing and artificial intelligence, with many companies leading the charge.
Artificial intelligence seems to be the next big thing in the world, and Amazon Web Services, owned by Amazon.com, Inc. (NASDAQ:AMZN) seems to be leading the charge here, while International Business Machines Corporation (NYSE:IBM) and C3.ai, Inc. (NYSE:AI) are also among the major players. In 2021, more than $93 billion were spent by private equity companies in the artificial intelligence industry, according to Stanford's AI Index Report, while PwC has assessed that the global AI market will be worth more than $15 trillion by 2030. There are several advancements being made in this sphere, such as artificial intelligence starting to learn jokes, creating art and writing essays. It can even reduce streaming fees by more effectively compressing video. However, perhaps the biggest segment in the AI industry is in the self-driving industry, which is supposed to be one of the main components of the giant automotive industry, with companies such as Tesla, Inc. (NASDAQ:TSLA) and Waymo leading the way in this regard.
We chose and ranked the most technologically advanced countries by using data from World Digital Competitiveness Report and innovation rankings by the World Intellectual Property Organization as technology drives innovation. Furthermore, we also considered the total number of patents granted to each country in 2021.
Ranked among the top countries in Europe in terms of digital connectivity, the tech environment in Luxembourg is excellent.
Ranking according to World Digital Competitiveness Report: 28
Ranking based on the most innovative countries in the world: 29
Total number of patents granted in 2021: 5,380
Spain has seen its tech industry grow significantly over the decades and is home to many technology parks, centers and universities which promote innovation.
Ranking according to World Digital Competitiveness Report: 39
Ranking based on the most innovative countries in the world: 28
Total number of patents granted in 2021: 23,146
The Italian government established a tech foundation to invest in innovative technologies and create more employment.
Ranking according to World Digital Competitiveness Report: 24
Ranking based on the most innovative countries in the world: 23
Total number of patents granted in 2021: 3,968
Ireland changed its tax rules which has attracted many major companies to move their headquarters to Ireland, which has provided a major boost to the country's economy and encouraged foreign investment.
Ranking according to World Digital Competitiveness Report: 23
Ranking based on the most innovative countries in the world: 26
Total number of patents granted in 2021: 8,177
Some of the major tech advancements made by Belgium include smart grid technology and energy efficiency.
Ranking according to World Digital Competitiveness Report: 12
Ranking based on the most innovative countries in the world: 22
Total number of patents granted in 2021: 4,024
Norway's vast wealth comes from its oil reserves, which it has invested to ensure that the country is among the leading technologically advanced nations of the world.
Ranking according to World Digital Competitiveness Report: 14
Ranking based on the most innovative countries in the world: 25
Total number of patents granted in 2021: 6,354
Over half of businesses in Australia reported being innovation-active while expenditure on R&D by the Australian government exceeded $3.6 billion in 2020 - 2021.
Ranking according to World Digital Competitiveness Report: 9
Ranking based on the most innovative countries in the world: 14
Total number of patents granted in 2021: 2,030
Hong Kong has been considered a global hub for technological advancements and has achieved particular success in the fintech industry.
Ranking according to World Digital Competitiveness Report: 18
Ranking based on the most innovative countries in the world: 17
Total number of patents granted in 2021: 8,747
Austria's machinery producers have developed cutting-edge technology to make their products more appealing.
Ranking according to World Digital Competitiveness Report: 15
Ranking based on the most innovative countries in the world: 16
Total number of patents granted in 2021: 9,032
There can be no denying that Israel is among the most technologically advanced countries in the world.
Ranking according to World Digital Competitiveness Report: 29
Ranking based on the most innovative countries in the world: 13
Total number of patents granted in 2021: 278,117
Japan and technology go hand in hand, with the nation perhaps best known for its advancement in artificial intelligence and robotics, which has resulted in an improvement in productivity.
Ranking according to World Digital Competitiveness Report: 10
Ranking based on the most innovative countries in the world: 15
Total number of patents granted in 2021: 13,610
Some of the largest tech hubs in the world are located in Canada, which attracts foreign investments from some of the biggest technology companies in the world. Canada also has an immigration policy in place to attract top skilled workers from all over the world.
Ranking according to World Digital Competitiveness Report: 22
Ranking based on the most innovative countries in the world: 12
Total number of patents granted in 2021: 49,115
France is one of the biggest economies in Europe, and is aiming to maintain its reputation as one of the leading nations in Europe by focusing on the tech industry, which is geared for high growth thanks to investments from venture capital funds, highly skilled young professionals and a strong start-up scene.
Ranking according to World Digital Competitiveness Report: 4
Ranking based on the most innovative countries in the world: 7
Total number of patents granted in 2021: 4,032
Singapore is fast becoming a digital hub of the world with major tech companies and banks establishing their operations in the country. Singapore is also among the richest countries in the world based on GNI per capita.
Ranking according to World Digital Competitiveness Report: 7
Ranking based on the most innovative countries in the world: 9
Total number of patents granted in 2021: 7,575
Scandinavian nations have a heavy presence in our list. Finland is expected to see stratospheric growth in the tech sector despite a population of just over 5.5 million people. Among tech contributions made by the company are wind turbines, the web browser, the first heart rate monitor, Nokia phones and 5G technology.
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Disclosure: None. 25 Most Technologically Advanced Countries in the World in 2022 is originally published at Insider Monkey.
