Importance of Innovation

"this position paper challenges the outdated narrative that ethics slows innovation. Instead, it proves that ethical AI is smarter AI—more profitable, scalable, and future-ready. AI ethics is a strategic advantage—one that can boost ROI, build public trust, and future-proof innovation. Key takeaways include: 1. Ethical AI = High ROI: Organizations that adopt AI ethics audits report double the return compared to those that don’t. 2. The Ethics Return Engine (ERE): A proposed framework to measure the financial, human, and strategic value of ethics. 3. Real-world proof: Mastercard’s scalable AI governance and Boeing’s ethical failures show why governance matters. 4. The cost of inaction is rising: With global regulation (EU AI Act, etc.) tightening, ethical inaction is now a risk. 5. Ethics unlocks innovation: The myth that governance limits creativity is busted. Ethical frameworks enable scale. Whether you're a policymaker, C-suite executive, data scientist, or investor—this paper is your blueprint to aligning purpose and profit in the age of intelligent machines. Read the full paper: https://lnkd.in/eKesXBc6 Co-authored by Marisa Zalabak, Balaji Dhamodharan, Bill Lesieur, Olga Magnusson, Shannon Kennedy, Sundar Krishnan and The Digital Economist.

Is federally funded university research a waste of taxpayer money? Let’s talk return on investment. Over the last 17 years, my lab has received ~$15M in federal research support. Here's what taxpayers got in return: ✅ 44 PhD students, 8 MS students, and nearly 80 undergraduates trained in cutting-edge bioengineering—now leaders in biotech, academia, and public service. ✅ 80+ issued U.S. patents and 200+ peer-reviewed papers, sharing knowledge that improves health and spurs innovation. ✅ 5+ startups launched, raising $150M+ in private investment and creating 150+ high-skilled jobs. ✅ 5+ products commercialized, including IntelliSep, a sepsis test saving lives and reducing hospital costs (~30% mortality reduction, ~$1400 saved per patient). First used in hospitals in Louisiana, Alabama, and Texas. That’s just one lab. And that’s just what we can track. The full ripple effect of training, ideas, tools, and technologies created in university labs is far greater. Now, consider this: One F-35 fighter jet engine costs about $14M–$16M—just the engine. A single border wall segment (1 mile) under some contracts has cost $15–$30M For the cost of one jet engine or a half-mile of wall, federal research funding can launch companies, train leaders, save lives, and return 10x in private investment and impact. What’s more capital efficient? What has a longer-lasting impact on society? Federal research funding isn’t charity. It’s one of the smartest, most leveraged investments the U.S. makes. 🔊 If you run a research lab, I encourage you to post your own return on investment from federal research support. Show the public and policymakers just how much value we’re creating—and why this investment in America’s scientific engine is among the most capital-efficient bets our country can make to power it's future. #ScienceFunding #AcademicROI #InnovationEconomy #ResearchImpact #FederalFunding #PublicInvestment #STEM

In 1966, two scientists got an $80,000 grant from the U.S. government to study microbes in Yellowstone’s hot springs. They basically went around sticking slides in hot mud to eventually prove for the first time that life could exist at such high temperatures. It sounded like obscure science for science's own sake—maybe even like a waste of taxpayer money. But from that research, they discovered a heat-resistant enzyme that years later became the foundation of PCR (polymerase chain reaction). PCR made it possible to rapidly copy DNA—an innovation that revolutionized genetic science. Processes that were either impossible or took teams of experts months were suddenly doable in a few hours. Fast forward decades, and because of that single grant: 🧬 The Human Genome Project was possible. 🧬 We mapped genes like BRAF, including the rare gene mutation I have. 🧬 We developed targeted therapies like Mekinist, designed to interrupt the exact signaling pathway my mutation hijacks. That random federal $80K grant? It led to me not dying. If the U.S. government doesn't invest $80,000 in scientists playing in the geiser mud at Yellowstone over 50 years ago, doctors today wouldn't be able to accurately diagnose diseases like mine and treatment might be limited to blunt, aggressive chemo and the hope 🤞 that it would be effective. Investing in science and research is precisely what makes our country great. Haphazardly eliminating federal grants will weaken our greatest strengths, and could literally result in the loss of lives that would otherwise have been saved thanks to advances made possible by the funded research. [I learned about this story from the awesome team at Radiolab Podcasts WNYC Studios and their podcast about it: https://lnkd.in/g-XJXH_B]

Researchers and technology transfer professionals hold the key to a more dynamic and improved innovation ecosystem. In today’s rapidly evolving innovation landscape, characterized by disruption and conflict, it’s more important than ever to empower universities, research institutions, and innovators to commercialize their intellectual property effectively. World Intellectual Property Organization – WIPO latest guide on technology transfer incentives, entitled “Incentives in Technology Transfer: A guide to encourage, recognize and reward researchers and professionals,” is designed to bridge the gap between academic research and real-world application. This guide, part of our WIPO IP Toolkit for Universities (https://lnkd.in/ebRW-V-d), addresses the crucial role of academic research in driving innovation. It emphasizes the importance of providing incentives and support to translate research into practical solutions. The guide is divided into two different sections, aimed at the main players: academic researchers and technology transfer professionals (TTPs). Supervised by Alejandro Roca Campana and led by Lien VERBAUWHEDE KOGLIN, with the support of the guide also highlights the vital contribution of Technology Transfer Offices (TTOs) in facilitating knowledge transfer from academia to industry. Key insights from the guide include: ·        Optimizing Incentive Programs: Discover strategies to navigate the challenges of incentive programs, striking the right balance and timing to drive research commercialization effectively. ·        Understanding Motivations: Gain insights into the motivations and barriers of researchers and technology transfer professionals, essential for designing impactful incentive strategies. ·        Examining Incentives: Explore successful financial and non-financial incentives for researchers, as well as academic career advancement incentives implemented by leading institutions. These measures foster a culture of innovation and collaboration within academic communities. We believe that the insights from this guide will serve as a practical tool for governments, universities, researchers, businesses and funders as they navigate the complexities of technology transfer in today’s innovation-driven world. For more information, access the guide here: https://lnkd.in/eGcbMkdU #WIPO #TechnologyTransfer #TechTransfer #Innovation #WIPO #InnovationEcosystem #Incentives #AcademicResearch #EconomicDevelopment #Inventors #Incentivize #Researchers

Whenever we talk about AI, robotics or quantum, the question underneath is always the same: will this make us stronger or more fragile? In my recent Oxford Martin School lecture, I argued that our prosperity in this new chapter of history will depend on whether we reinvent the economy around innovation and long-term thinking, instead of relying on the model we grew up with. New technologies can lift productivity, create whole new industries and improve supply chains. But if we mishandle them, they can just as easily hollow out communities, concentrate power and deepen inequality. Resilience here means a few things: a more active partnership between government and business; a serious industrial strategy for key technologies; and real support for people to reskill, rather than simply being left behind. It also means dropping the illusion that we can run an economy on five-year horizons. If every tax and spending decision is judged only on what it does before the next election, we will underinvest in the very innovation we need, and drive out the entrepreneurs who would otherwise build the future here. A resilient economy is one that backs new ideas, helps people adapt to them, and looks further ahead than the next set of headlines. Anything less is managed decline by another name.

💡 New Zealand recently defunded humanities and social science research. Canada is doubling down on it to drive innovation. Who’s right? New Zealand’s government recently cut funding for social sciences and humanities (SSH) research, arguing that science and technology - not SSH - are the key to solving our productivity and growth challenges. Minister Judith Collins stated that only "core sciences" like physics, chemistry, and engineering will deliver real economic impact. Meanwhile, Canada is making the opposite bet. President of Canada's Social Sciences and Humanities Research Council (SSHRC), Ted Hewitt, argues that SSH is essential for turning science and technology into innovation and productivity gains. In this article, he lays out why: ✅ Innovation is more than invention. Science and technology create new products, but SSH research ensures they are adopted, commercialized, and integrated into society. Without SSH insights, many breakthroughs never reach their full potential. ✅ Industry needs SSH expertise. Canadian researchers are collaborating with businesses—from airlines balancing sustainability and profitability to fintech companies designing more inclusive products. SSH research is actively shaping business success. ✅ Workforce creativity fuels economic growth. The World Economic Forum’s Future of Jobs report lists creativity, critical thinking, and problem-solving as top skills for the future—precisely the skills fostered by SSH education. ✅ Better policy means better productivity. SSH research provides data-driven insights that help businesses and governments design smarter regulations, improve economic strategies, and remove barriers to growth. If New Zealand wants to lift its productivity and drive innovation, cutting SSH funding might be the worst decision it could make. Canada recognizes that science alone doesn’t drive economic success. It's the integration of SSH that makes innovation work. With Shane Reti set to take up the new universities portfolio plus Science, Innovation, and Technology, it's time for a rethink. #SocialSciences #Humanities #Marsden #Universities #Research #Productivity #NewZealand

Sustainability = Innovation 🌎 Integrating sustainability into business strategy requires continuous advancements in technology, processes, and resource management. At the same time, sustainability challenges drive research, development, and operational efficiencies that lead to new market opportunities and competitive advantages. Resource constraints drive material and process innovation. The need for alternatives to finite or harmful materials has accelerated the development of advanced composites, circular economy models, and energy-efficient production systems, improving cost efficiency and resilience. Addressing sustainability challenges requires systems-level innovation. Reducing emissions, optimizing resource use, and minimizing waste require advancements in supply chain management, product lifecycle design, and industrial processes, reshaping entire sectors. Cross-functional collaboration is critical. Sustainability initiatives require input from engineering, data science, regulatory compliance, and finance to develop integrated solutions that meet environmental targets while maintaining operational and commercial viability. Data-driven approaches enhance sustainability performance. Measuring environmental impact enables companies to identify inefficiencies, optimize resource allocation, and refine business strategies based on quantifiable sustainability metrics. Long-term sustainability targets drive investment in research and technology. Businesses are accelerating development in areas such as AI-driven resource optimization, carbon capture, and next-generation materials to align with regulatory requirements and market expectations. Nature-based solutions provide scalable innovation opportunities. Biomimicry has led to advancements in self-healing materials, passive cooling systems, and regenerative agricultural techniques, improving efficiency and resilience across industries. Sustainability is reshaping business models. The transition to circular economy principles, service-based models, and regenerative supply chains is driving competitive differentiation and long-term value creation. Innovation is fundamental to achieving sustainability objectives. The convergence of regulatory frameworks, technological advancements, and market shifts is reinforcing the role of sustainability as a driver of industrial transformation and business resilience. #sustainability #sustainable #business #esg #climatechange

Innovation drives growth. Adaptability sustains it. How does innovation drive lasting growth? And why does creative destruction matter for the future of companies and economies? These are questions three economists, Joel Mokyr, Philippe Aghion, and Peter Howitt, have spent their careers exploring - and one that earned them this year’s Nobel Prize in Economic Sciences. Many congratulations to them for shedding light on what keeps economies - and organizations - moving forward. Their work feels especially relevant in a world where technology is transforming industries faster than ever. Simply put: innovation fuels long-term growth by replacing outdated technologies and business models. In my professional life, I have encountered this question many times. As a leader, you ask yourself every day: 👉 Is yesterday’s business model still viable today - and will it survive tomorrow? 👉 Does the innovative strength and culture of a company carry it into the future? 👉 When does innovation have value? In other words, how can we scale innovations so that they benefit as many people as possible? The answer largely lies in adaptability. A company must be able to evolve with changing conditions - in its structures, processes, and mindset. Adaptability is the foundation of innovation. Innovation, in turn, is the prerequisite for long-term relevance. Adaptability means questioning the status quo and having the guts to try new ways of doing things. At Fresenius Group, we have done just that. About three years ago, we launched our #FutureFresenius transformation journey with making the company more focused, simpler, and stronger. Fresenius’ transformation is both operational and cultural. The company is now clearly focused on its mission: to save and improve millions of lives. In the current #FutureFresenius phase - Rejuvenate - we’re raising the bar, driving growth and performance from a stronger foundation to become more innovative and relevant. One of the laureates, Joel Mokyr, identified three prerequisites for sustained growth: 1️⃣ A co-evolution of science and technology - so that people understand why things work. 2️⃣ Mechanical competence - the ability to apply this knowledge. 3️⃣ A society that’s open to change. That last point resonates deeply with me. Whether in societies or in companies, the willingness to change is essential. Mokyr, Aghion, and Howitt remind us that sustained growth depends on continually nurturing the conditions that make innovation possible. The themes of their research are highly relevant in an age fast becoming defined by AI. As Mokyr once put it, science enables a deeper understanding of nature’s laws - and humanity’s ability to discover new phenomena leads to “all kinds of things we never dreamed about before, including artificial intelligence, mRNA, and genetic engineering.” Innovation, adaptability, and curiosity - in science, in business, and in society - remain the ultimate engines of progress.   #CommittedToLife

I’ve been wondering: Will AI be the real innovator of tomorrow? And if so — what role do we as human creatives still play? With all the buzz around Agentic AI, it’s easy to imagine a future where machines dream up ideas, design the solutions, and execute them at speed. But for now, the evidence points to a clear truth: AI still relies on human direction. As Sundar Pichai put it: “The future of AI is not about replacing humans — it’s about augmenting human capabilities.” Databricks CEO Ali Ghodsi echoed this: “Fully automating tasks with AI remains more challenging than many assume… people will continue to play a crucial supervisory role.” AI can analyze patterns, propose alternatives, and scale existing solutions with remarkable speed. But it lacks the capacity to set direction, make creative leaps, or determine what truly matters. Innovation still begins with human judgment. 👉 So what should businesses actually do to prepare for a future where human and AI collaborate on innovation? Design for human-AI collaboration, not just efficiency. Teach teams to collaborate with AI, not just operate it. Let humans lead on strategy and ethics. And lastly: Make innovation a shared effort between people and AI Turns out, the future of innovation is probably hybrid. Are you building for that?

In today’s business landscape, the companies that win are not the ones with the biggest budgets, they are the ones that use their resources with intelligence, discipline, and purpose. The future of value creation no longer depends on how much you have, but on how wisely you deploy it. Across industries, efficiency, innovation, and operational excellence have become the new business currency. It is no longer enough to grow; growth must be sustainable. It is no longer enough to compete; competition must be smart. And it is no longer enough to deliver value; value must be delivered with intention, speed, and consistency. True efficiency begins with a mindset shift. It is about questioning legacy processes, eliminating friction, and asking the hard questions: Is there a smarter way? Can we deliver the same (or better) quality with fewer touchpoints, less waste, and more agility? The leaders who embrace this discipline unlock a strategic advantage that money alone cannot buy. Innovation plays a critical role in this equation. Doing more with less does not mean doing less, it means designing better systems, building better teams, and leveraging technology to enhance decision-making and execution. When efficiency and innovation work together, organizations move faster, operate leaner, and deliver exceptional outcomes without compromising quality. Operational excellence is the backbone of this transformation. It is the invisible engine that turns strategy into impact, ensuring every action is intentional, and every process is aligned with long-term value creation. Companies that master this discipline build resilience… And resilience, in a volatile world, is the ultimate competitive advantage.