The purpose of the study is to investigate the formation of the concept of innovation in the industrial sector, focusing on new technological methods.

Research methodology - The study uses a combination of analytical, synthetic and comparative methods to examine how technological advances shape industrial innovation. It integrates a systems approach along with technological and economic frameworks to gain scientific insights.

Applied significance of the study - The applied significance of this study lies in its ability to help industries adopt advanced technologies that increase production efficiency, reduce costs and enhance sustainability. It provides practical guidance to industrial decision-makers on integrating advanced technologies such as automation, artificial intelligence and IoT to foster innovation and maintain competitive advantage.

Research findings - The study highlights how emerging technological methods such as smart manufacturing, Industry 4.0 and digital twins are revolutionizing industrial processes. It identifies the key opportunities presented by these technologies, along with the challenges faced by industries in implementing them. The study suggests strategies to overcome these challenges, ensuring successful adoption of the technology.

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