Innovation refers to the process of creating and implementing new ideas, products, services, or processes that improve or revolutionize existing solutions. It encompasses a wide range of activities, from developing groundbreaking technologies to altering business practices or enhancing consumer experiences. Innovation can occur in various forms, including incremental improvements—small enhancements to existing offerings—as well as radical innovations, which introduce fundamentally new concepts or technologies.

At its core, innovation is about solving problems and meeting the evolving needs of society, businesses, and individuals. It often involves experimentation, creativity, and the willingness to take risks. Innovation is crucial for economic growth and competitiveness, as it drives efficiency, fosters new industries, and can lead to substantial advancements in quality of life.

In summary, innovation is the act of bringing new ideas to fruition in a way that has a meaningful impact, often contributing to progress in technology, business, and society as a whole.