Among the GII’s key findings:

• Scientific publications, research and development (R&D), the number of venture capital (VC) deals (but not their value) and patents continued to increase to higher than ever levels. However, growth rates were lower than the exceptional increases seen in 2021.
• In 2022, spending by corporations representing the largest investors in R&D reached USD 1.1 trillion in 2022 – a historic high. They increased their R&D spend by around 7.4 percent in 2022, down from 15 percent growth in 2021.
• Mirroring the recent surge of artificial intelligence, the ICT hardware sectors saw graphic card and chipmakers in the lead with the most notable R&D growth in 2022. Other sectors which cut back R&D spending during the pandemic, such as automobiles and travel and leisure, invested strongly again in 2022.
• According to preliminary data, global government R&D budgets are estimated to have increased in real terms in 2022. Significant increases took place in Japan and the Republic of Korea, and smaller ones in Germany, making up for cuts in other economies.

• Reflecting a deteriorating climate for risk finance, the total value of VC investments declined sharply by close to 40 percent in 2022, albeit from unusually high levels in 2021. Africa was the only region not to see a decline in 2022.
• The VC outlook for 2023 and 2024 is uncertain, with high interest rates likely to continue to impact the financing of innovation.
• Indicators in the fields of information technology, health and energy continue to show progress – the Digital Age and Deep Science innovation waves  outlined in GII 2022 are well underway.
• Overall, technology adoption is developing positively even though penetration for some technologies, such as electric vehicles and cancer treatment, remains low.