A greater investment in basic scientific research and better use of talent will help in addressing social challenges, experts gathered at the WEF annual meet said today.
The short-term pressures on science and business today are not conducive to basic research, which can take decades to deliver results, according to them.
Carnegie Mellon University President Subra Suresh said, "we don't have industry supporting basic research to the extent that it used to".
Experts also opined that governments can play a larger role in enabling greater private support for basic sciences.
"The bargain that we have to make as politicians is to say (to businesses): we will lower your barriers, but think about investing in science," Carlos Moedas, Commissioner, Research, Science and Innovation at the European Commission, said.
University of California Professor Elizabeth Blackburn said short-term pressures can stifle scientists' desire to solve complex challenges.
"Let scientists have long leashes," she noted.
Suzanne Fortier, Principal at McGill University, Canada, said that scientific talent is being wasted.
As per the experts, another way to improve the outlook for scientific innovation is to make better use of existing talent. Political, corporate and structural changes in the sciences could improve societies' ability to leverage scientific potential, they added.
