Final answer:
Research is crucial for global development, as it drives technological innovation and progress in multiple fields, directly impacting economic growth and living standards.
Step-by-step explanation:
The connection of research to our global development is paramount. In the context of technological innovation, research drives innovation and development in various fields. This is evident in the transformation from traditional methods to modern technologies, which significantly improve efficiency and quality of life.
For instance, technological progress through research and development (R&D) has led from transportation means like horses to automobiles, from using candles to electric lights, and has had a profound impact on health through the development of antibiotics.
Research is responsible for the creation of new products, finding new ways of producing goods and services, and introducing more efficient company management practices. The global research and development efforts by individuals, businesses, and governments have revolutionized economies, directly linking technological progress with economic growth and the improvement of living standards.
For example, in fields like mobile banking, the innovation generated from research has not only improved services but also reduced costs and facilitated information sharing. Furthermore, the spread of technology across borders, known as technological globalization, has been greatly accelerated by R&D, benefiting both developed and developing nations. This technological diffusion continues to be a key factor in addressing challenges like poverty and efficiency in markets.