Intel Chairman Craig Barrett has urged technology leaders to 'innovate and invest' in an effort to boost economic development and solve global challenges. Speaking at the Cebit technology trade show in Germany, he said that innovation and technology were the 'backbone of the modern economy' and that investment in the sector would drive prosperity and bring about a global digital transformation. Three key areas need investment, he told delegates: '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.'