R&D, or Research and Development, encompasses activities undertaken by companies or governments to innovate and introduce new products and services, or to improve existing ones. It typically involves scientific research, technological development, and experimentation with the goal of discovering new knowledge or creating new technologies. R&D is crucial for economic growth, competitiveness, and addressing societal challenges. It can range from basic research (expanding scientific knowledge) to applied research (solving specific problems) and experimental development (creating prototypes and pilot projects).
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