Impact of Innovations on Economy and Human Life

Currently, innovation is the main connecting mechanism of all aspects of society. The modern world cannot be imagined without both already familiar and future innovations. The scientific community agrees that innovation has become the main driving force of economic development. Innovation processes have led the world community to a new, higher level of development. Innovation is used in almost all areas, being a topic of discussion at the professional level, incl. at the level of governments, international organizations, etc. The paper describes the necessity of innovation for economy and human life.