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Before knowing the definition of technological achievement index, let us track back to its origin. The term was first pronounced in the Human development index back in 2001 which is almost two decades ago. The common abbreviation was set as TAI. TAI tries to explain how close a nation is to the creation and diffusion of modern technologies. It also discusses the role of this technology in constructing the human skill base. Thus the definition of technological achievement index reflects the potential of a nation to take part in the scientific innovations that aim to bring in a new era.
Why is the technological achievement index important?
Currently, we are all living in the internet age. This period began as soon as the services of email and search engine operators became readily available to the general public. Since then the world population has experienced a complete transformation of communication nature and information accessibility. Therefore the citizens who live in a country showcasing an improved technological achievement index have a comparative advantage over others. This is because Technological Achievement Index emphasizes four key areas of technological potential that are crucial in benefitting the internet users of the new world.
By definition of technological achievement index, this metric implements two indicators that are standardized to assess the extent of innovation in the nation. One of these indicators is the exact number of patents that have been granted per capita. This informs the economists about the current status of actions. The other one is royalty receipts which are accompanied by license charges from foreign countries per capita. This is an effective stat that helps us to assess the relevance of qualified past innovations. They must still serve their purpose as means of the best solution; otherwise there will be depreciation in the market value.
The Technological Achievement Index provides insightful knowledge on the frequency and pattern at which innovative practices; theories or manufactured items gain popularity among a certain community. In other words, TAI is the procedure of market acceptance of new technologies that are affected by social media marketing. An increase in this market approval casts a positive impact on the sum export of a nation.
The spreading of old technologies is another aspect of innovation that is measured by the technological achievement index. It is done in two ways. The first method involves the calculation of the density of telephones. The second process requires the measurement of energy consumption. Both the stats are evaluated per capita as that is the rule standardized by the United Nations Development Project.
The fundamental dimension that is being guided by the technological achievement index is human skills. This is considered as both developers and internet surfers of the new generation require human skills. Two indicators estimate these skills. The schooling period of individuals belonging to a given community is measured by combining gross enrollment proportions. Further categorization is also done by evaluating the number of enrolments in science, engineering, and math. All countries do not have sufficient data owing to non-cooperation of some population classes living in the remote areas. Thus initially the technological achievement index could be prepared for only 71 countries.
Based on the execution of technological exports and accessibility of modern network trends, the United Nations Development Board ranked the 72 countries from best to worst. The topmost class of countries included the United States of America, Japan, South Korea, Sweden, etc. They depicted a TAI score greater than 5 which is presumably an excellent performance in terms of technological advancements. Then came the category of potential leaders whose scores varied between 0.49 – and 35. Hong Kong and Italy fell into this group. India was placed in the 63rd position which secured the country a place among the nations tagged as “dynamic adopters”. Most of the contribution to India’s points is owed to heavy and medium technological deals.
Conclusion
Several factors are incorporated in the technological achievement factor which determines the financial growth, competitive advantage, and status of a country from a global viewpoint. Technology achievement capacity, spreading of innovative ideas, and merit generation have been cited as some of the factors that are most likely to affect a country’s TAI. In a nutshell, the technological achievement index measures a community’s potential to take part in the modern network age.
