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How can innovation generate global prosperity?

According to Ram Mudambi, innovation is the single most important endeavor of humanity. Everything that we take for granted in a prosperous society, even the ability to feed and clothe ourselves, is the result of ongoing innovation. As part of the Frontline IB video series, in which the Academy of International Business introduces the people behind some of the most widely cited studies, Mudambi discusses the importance that geography plays when facilitating innovation.

Within international business, Mudambi has emphasized the importance of being able to “overcome space,” such as through technologies connecting people, in order to facilitate innovation. This ability to instantaneously link millions of people from different geographies has resulted in an exponential growth of basic innovations throughout the world. 

Mudambi notes that we need to start thinking more about these “wires across space” that connect people in different ways. Such technologies facilitating ongoing innovation will be critical in our ability to overcome challenges faced by humanity.