Features of Innovation Activity in the Context of New Global Challenges

Innovation activity for national economy is mainly determined by a combination of strategies, decisions and actions of individual business entities, both residents and non-residents operating in the territory of the host country as well as by other economic actors. Moreover the policy of the government and national research universities has a tremendous impact on national innovation development.In the face of new global challenges and modern conditions the key element of successful innovative and technological development of the world economy is the effective distribution of both human and intellectual capital and financial resources, which largely determine the long-term direction of innovative development. A significant increase in the number of innovations is the global trend of technological development which is explained by a number of factors such as digitalization first of all, the development of biopharmaceuticals, the growing contribution of ICT to global GDP, the development of the semiconductor industry, as well as the popularization of AI technologies and big data analysis