Re-envisioning Investment Priorities

Research is essentially a process of discovery that generates knowledge as its most basic unit. The cost and efficiency of the process of discovery may in part at least be superseded by use of AI, but discovery is only one small part of the overall process of innovation, and the individuals who can invent and innovate need to be available to fully exploit discoveries for greatest economic and social benefit. The education and training of scientist entrepreneurs, who are expert-generalists, and disruptive entrepreneurs, as different from, and of greater importance than the training of scientists per se, is considered. In contrast to the people element of investment, the accounting for the value of R&D and having appropriate mechanisms in place to reduce the cost to society of failing to invest in innovative opportunity, is also explored.