Disruptive technologies are changing the global economy. They include the Internet of Things, big data, quantum computing, plus a wave of inventions in advanced materials and health care. Each technology creates enormous opportunities for talented individuals who are behind these technologies and are willing to relocate to countries where opportunities emerge.
Here are ten interesting trends from a recent OECD survey, which covers the period 1999-2013:
- Three countries, the US, Japan, and Korea lead the world in disruptive technologies, accounting collectively for over 65% of patents filed in Europe and the US.
- A small number of centers of excellence are the breeding grounds of science and innovation that drive the growth of disruptive technologies.
- The US is the world’s largest R&D performer, with nearly $433 billion of domestic R&D expenditures in 2013.
- The US accounted for 22 of the top 30 universities with the highest relative impact.
- China is catching up with the US in scientific production, in volume that is. But it still lags far behind the US in quality.
- China turned from a net exporter of talent in the late 1990s to a net importer in the last few years.
- India was a net exporter of talent until 2013 when it turned into a net importer.
- The US turned from a net importer of talent in the early part of the 1999-2013 period, to a net exporter of talent in the later period—a pattern opposite to that observed in China.
- Spain has recently faced a return to the net outflows of talent recorded in the beginning of the late 1990s.
- Great Britain has registered the largest net talent outflow over the period.
Apparently, global talent is on the move. China is the big acquirer of talent and Great Britain and India are the big losers. Spain is gaining back some of the talent lost early in the 1999-2013 period, while the US has a mixed record.
This article was written by Panos Mourdoukoutas from Forbes and was legally licensed through the NewsCred publisher network.