Techno-Foresight in R&D

In this era of rapid technological developments, new approaches are necessary to stay relevant and competitive; the global industry is becoming more and more science and technology (S&T)- centric. The future industry is expected to be driven by S&T-enabled products and innovations. However, S&T products need large investments and long development timescales. Techno-foresight is the process of anticipating the broad contours of technologies to come. It can also help in overall policy planning; unlike techno-foresight for a specific product, techno-foresight in policy can be used to ensure inclusive economic growth through development of the complete industrial ecosystem. It is an emerging area, enabled by the recent advances in data analytics, modelling and simulation.