The acronym R&D stands for Research and Development in technology development. It refers to the critical activities involved in seeking new knowledge and innovations to create new products or improve existing ones. R&D plays a vital role in maintaining a company's competitive edge by fostering innovation and driving technological advancements. In the tech industry, R&D focuses on experimenting, developing prototypes, and testing ideas, which ultimately contribute to product launches, improvements in functionality, and enhanced user experiences.