Open Innovation to Meet the Challenges of the Labor Market
Open innovation is a new framework to solve problems in a high-yield and low-cost manner. It is increasingly used by business, governments, and other organizations seeking solutions. Open innovation relies on external input – that is, feedback from outside the organization. This type of innovation can take the form of crowdsourcing, prize competitions, challenges, and more. These organizations collect ideas via brainstorming sessions to push scalability and growth.
Open innovation can be applied to solve difficult problems. NASA frequently uses open innovation to crowdsource ideas from the general public. As they write, “the idea is to create the most innovative, efficient, and optimal solutions for specific, real-world challenges being faced by NASA researchers.”
Beyond space and earth science, open innovation can also be applied to other sectors. We’ve previously discussed the applications of open innovation to improve healthcare. Another area that open innovation can be applied is the labor market.
COVID-19 has upended the economy, shifting the way we do work, and shutting down many sectors entirely. The labor force changes observed during the COVID-19 pandemic will likely persist in some form, as people continue to opt for remote work and upgrade skill sets – for example, to keep up with trends in automation and an increased reliance on computers and technology.
In this document, you’ll read about the ways you can apply open innovation to solve problems in the labor market. The problems solved by open innovation include helping people get back to work, improving skillsets and creating internship and apprenticeship opportunities, and others.
Learn more about open innovation and its promise to transform the labor market by downloading our White Paper below.
