Innovation readiness has sharply declined worldwide , from 20 % two years ago to 9 % last year and just 3 % this year globally .

A new report released by Boston Consulting Group ; BCG highlights this positive trend while noting opportunities for GCC firms to enhance their innovation readiness . For its annual innovation study , Innovation Systems Need a Reboot , BCG assessed companies ’ innovation maturity and surveyed senior innovation executives worldwide , including those in the GCC region .

While innovation continues to demonstrate value , the study shows that innovation systems globally need a reboot . Innovation priority remains at an all-time high , with 83 % of global companies ranking it as a top-three priority . However , innovation readiness has sharply declined worldwide , from 20 % two years ago to 9 % last year and just 3 % this year globally .

This global trend is even more pronounced in the GCC , where firms exhibit even lower innovation readiness than the global average . The study reveals that while GCC organisations prioritise innovation at a higher level than their global counterparts , they face greater challenges in translating that ambition into readiness .

20 www . intelligentbuild . tech