101. Technology and Innovation Solutions Must Lead the Way to COVID-19 Recovery
- Author:
- Committee for Economic Development of the Conference Board
- Publication Date:
- 05-2020
- Content Type:
- Policy Brief
- Institution:
- The Conference Board
- Abstract:
- The COVID-19 pandemic is disrupting the US and world economy with unprecedented speed and scope, drastically altering the daily experiences of millions of Americans. As private and public leaders in the US race to suppress the outbreak and begin reopening the economy, educators, employers, and service providers are seeking new or different ways of doing business to preserve learning, productivity, and well-being. Aided by US capitalism’s long history of boundary-pushing advancements in science and technology, the US response—ranging from tracking the virus’s spread to shifting commerce to virtual tools and platforms—will draw on rapid adoption, adaptation, or improvement of technologies as well as faster-paced innovation. Under pressure of the public health crisis, many organizations will accelerate technologies in their daily practice, advancing the timeline for cutting-edge business and social services. America is in a strong position to innovate to address this and future pandemics. However, it must also address the spotlight COVID-19 has shone on critical shortcomings with US technology, its accessibility, the regulations governing its application and use, and the privacy and public health trade-offs for policy makers and private sector leaders. As this report explains, policy makers and business leaders must address these critical shortcomings with new approaches including: Funding states and localities so all Americans have access to broadband during lockdowns to access services and distance learning; a “digital divide” that was problematic before the crisis is crucial during social and economic restrictions when even some basic services are provided only remotely; Changing regulations—some temporarily, others permanently—to support innovation and experimentation to address the immediate and potential future public health crises, including relaxing restrictions to speed vaccine development, expanding telemedicine, and improving monitoring and tracking of the outbreak; Removing unnecessary roadblocks to faster and more effective adoption of digital tools to improve remote work, medicine, and learning capabilities while protecting data privacy; and Replacing outdated public-sector IT systems to increase flexibility and reliability in providing relief and serving families and businesses. After this crisis, technological innovation will remain critical to the nation’s economic strength—ensuring that the US remains globally competitive and achieves prosperity. The US must use this moment as a turning point, not only to address the immediate crisis but to bolster its technology and innovation edge to compete globally and respond to unforeseen challenges and crises in the long term.
- Topic:
- Science and Technology, Business, Innovation, COVID-19, and Digital Policy
- Political Geography:
- North America and United States of America