The latest advances in artificial intelligence, quantum computing, and biotechnology have the potential to lift living standards, boost productivity, and drive more sustainable growth. Yet despite record investment, many solutions are struggling to scale beyond the lab and translate into real-world economic benefits. The full potential of innovation is not being harnessed. Public-private partnerships will be the key to unlocking this potential. 

The next phase of innovation is as much about accelerating the diffusion of emerging technologies as it is about generating new breakthroughs. To accelerate this diffusion, collaboration between government, business, civil society, and academia will be vital to share risks, smooth the path to market, and ensure that technological breakthroughs have a positive impact on societies. Capturing this innovation potential should provide opportunities to strengthen economic resilience both nationally and globally, which is especially important in these times of geoeconomic tension and war.

Different regions, given their diverging strengths and interests, face different challenges. The United States has the considerable advantage of deep capital markets, making it a powerhouse for private investment. In 2025 alone, $339 billion was invested in start-ups in the U.S., about two-thirds of which focus on AI. Yet, too often, that capital is concentrated in a narrow set of technologies: early-stage start-ups and non-AI fields are underfunded and lack the resources to........

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