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Intel advises industry to invest through recession

CEO Craig Barrett touts importance of education and R&D at CeBIT trade fair in Germany

Intel CEO Craig Barrett wants the technology industry to invest more in education and R&D for an economically stable future.

“In the current global economic climate, thinking long-term is more important than ever,” Barrett said as he kicked off the world’s largest technology trade show - CeBIT – in Germany. “Today, we can lay the groundwork for growth. Many nations and businesses try to save their way out of a recession. It is much better to invest our way out.”

“There are three gauges nations can tune to compete,” explained Barrett. “Investing in good education produces smart people. Investing in research and development produces smart ideas. And, creating the right environment in which smart people can develop smart ideas. These steps would stimulate economic growth, jobs and new opportunities including future collaborations among private industry, government and academia.”

Barrett’s observations reflect his experience as chairman of the UN Global Alliance for ICT and development, visiting more than 30 countries a year as a technology ambassador.

He has been very active in Intel’s World Ahead Program, which is designed to bring the power of IT to emerging economies, including the Middle East.

69 year old Barrett will be stepping down as Intel chairman in May this year, marking the end of an era in technology history.