Building bridges with technology: the role of engineering research in international development

Five significant economic phases have been recognised so far, including the Industrial Revolution, the Age of Steam and Railways, the Age of Steel and Heavy Engineering, the Age of Oil, Electricity, the Automobile, and Mass Production, and the Age of Information and Telecommunications. The fifth wave of current times is closely linked to advancements in digital and information technologies.

Nevertheless, the sixth wave of innovation has already started and revolves around sustainable technologies.

Unlike past technological waves, the sixth wave emphasises resource efficiency and sustainability over resource dependency. The reason for this is that natural resources are being depleted due to human activities, prompting the need for sustainable solutions.

The field of engineering encompasses numerous avenues through which it can facilitate economic growth. Infrastructure investment, mainly transport, communication, waste management, water supply, energy, and digital infrastructure, can drive up countries' productivity and ramp up other aspects of their economies.

Engineering has a crucial role in generating novel insights and establishing the required capacity to produce and transport goods and services.

Multidisciplinary engineering research also help countries face challenges in realising the United Nations Sustainable Development Goals (SDGs) by 2030, including diminishing poverty, fighting inequality and climate change.

Engineering has played a crucial role in the technological advancement and growth of modern society. Research and development (R&D) is a vital aspect of engineering, aimed at comprehending issues, devising innovative solutions, and creating new goods, services, or management systems.

As technological development is closely linked to innovation, which plays a crucial role in economic growth, having the capacity to innovate is essential.

Yet, it is also vital that a) businesses demand these innovations and research findings to bolster productivity, which leads to growth, b) businesses must invest in research findings that improve productivity and lead to growth to capitalise on these innovations.

Generating research and development (R&D) and human capital are vital components for economic growth. They improve productivity and fuel innovation.

Countries that allocate a low percentage of their GDP to R&D may need to adjust their policies to encourage the decision-making of businesses to invest.

There is strong correlation among countries that spend a relatively high proportion of resources to R&D and are at the forefront of engineering innovations and breakthroughs.

Investing in engineering research remodels the economy, markets, products and services used to address future challenges. Businesses should be alert to the innovations that could transform them and support those advancements to secure their exclusivity. The best way to track such opportunities is to expand their inclusivity in renovating their strategic vision.

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