Technological innovation, the region's challenge.

Abstract

According to some researchers, innovation goes beyond technology and is defined as the set of technical, commercial, and financial stages necessary for the successful development of a novel product or service, the use of new production processes, other forms of marketing, and the identification of new customer groups.
Innovation developed alongside technique until it transformed into technology by combining with scientific knowledge, becoming a key factor in differentiating between countries, regions, and companies.
“Technological innovation, the region’s challenge” has become the new paradigm for Latin American countries, one that could enable the long-awaited economic growth capable of promoting the implementation of socioeconomic development policies that improve the standard of living of their citizens. This paper aims to show how our countries are advancing in technological innovation, with a particular analysis of the application of modern technology in Bolivia’s hydrocarbon sector.