The Digital Economy and the importance of industry and academic collaboration
Pascal Brier
Group Chief Innovation Officer chez Capgemini | Member of the Group Executive Committee
We stand at a great inflection point in our society’s relationship with technology. Digital technologies such as Artificial Intelligence (AI) and real-time data analytics are transforming work, organizations, and the wider economy.
In this context it is imperative that technology businesses work hard to benefit all levels of our society. ?This is why I am so pleased that, earlier this week, Capgemini announced that it is the first corporate affiliate to be working with the Stanford Digital Economy Lab (S-DEL) to understand the impact of the digital economy and its role in creating an inclusive, equal society.
The Lab, run by digital economy expert Erik Brynjolfsson, brings together a group of relevant stakeholders to analyze data, run experiments, develop theories, and provide actionable insights to solve pressing global issues.
As part of this initiative, Capgemini’s Applied Innovation Exchange centers and worldwide technology experts will collaborate with the S-DEL to exchange and implement ideas in real-world scenarios, providing feedback to create a meaningful impact across five research tracks:
The importance of industry and academic collaboration
Partnerships between industry and academia are not new, of course, but they are vital for innovation, and are mutually beneficial.
For academics, conducting research that is practically relevant, scientifically rigorous, and impactful for society is a continuous challenge. Collaboration with industry is critical for academia to create scientific knowledge and obtain industrial data.
In turn, collaboration with academia across multiple fields of research is crucial for organizations to achieve a systemic view of the challenges faced. This greater insight means that any solutions which emerge through collaboration are less likely to create unforeseen negative consequences. ?
It’s no secret that the society we live in today is one rife with misinformation, fake news and mistrust of institutions and experts. Against this backdrop, it’s more important than ever that businesses and academia are coming together in fact-based collaboration.
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Making a difference
We don’t have to look far to see how industry and academic collaboration is already creating meaningful societal change.
The University of Cambridge Institute for Sustainability Leadership (CISL) works with global corporations’ leadership and operational teams to raise awareness and deepen knowledge on diverse topics ranging from biodiversity and climate change to the use of materials and resources.
In the US, Carnegie Mellon University and Argo AI’s collaboration is leading to advancements in autonomous car technology that could reduce autonomous vehicles’ energy consumption and compute requirements.
Similarly, Nanyang Technological University (NTU) and Hyundai Motor Group have recently inked an agreement to run projects focused on the production of electric vehicles and the quality of their batteries.
And, for one we’re all likely familiar with, Oxford University and AstraZeneca’s collaboration led to one of the first Covid-19 vaccines.
Difficult questions
As the 21st century marches on, the questions that society must answer will be some of the toughest we’ve ever been posed. We’ll need to answer them thoroughly, quickly, and ethically.
There’s a lot at stake here. It’s only through the combination of industry’s resources, data and practicality and academia’s inquisitiveness and scientific rigor, that we’ll be able to ensure positive outcomes for all in our society.
I’m excited to see what answers Capgemini and S-DEL uncover.?