Digital Transformation - October 22 2020
Joshua Gans is a Professor of Strategic Management and the Jeffrey S. Skoll Chair of Technical Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto. He is also Chief Economist of the University of Toronto's Creative Destruction Lab. Gans is the author of numerous books on digitization, disruption, artificial intelligence, innovation, and even parenting. His most recent book is The Pandemic Information Gap: The Brutal Economics of COVID-19 set to be published next month. We caught up with Joshua Gans to ask a few questions about the ongoing economic impacts of COVID-19 and how technology and innovation may hold the key to protecting ourselves from future pandemics.
Joshua, in your book Economics in the Age of COVID-19 (MIT Press, 2020), you argue that once the coronavirus is contained, we will need to innovate together to protect ourselves from future pandemics. Can you talk a bit about the correlation between innovation and resiliency?
Innovation is needed in order to find solutions hopefully prior to pandemics actually occurring. This is why I think innovation is a key part of what will drive resiliency and our ability, when future crises occur, to deal with them quickly and economically. What we failed to do this time is any of that. We weren’t sufficiently prepared. And we didn’t engage in the sort of international coordination that was needed to manage this entire crisis. This is because the solutions scale, but up until this point we haven’t taken advantage of that.