Disruptive Innovation and Its Impact on Canada

This document is an economic viewpoint report that discusses the concept of disruptive innovation and its implications for Canada. It outlines how disruptive technologies can fundamentally alter market landscapes by introducing new products, services, and production processes. The report highlights five key disruptive innovations showcased at the 2023 Collision Conference, including generative AI, clean technology, 5G, the Internet of Things, and blockchain-related technologies. These innovations are positioned to address significant societal challenges such as climate change and healthcare accessibility. The authors detail the potential benefits of disruptive innovation, including increased productivity, job creation, and enhanced international trade. However, they also identify barriers to its adoption, such as resistance to change, insufficient resources, and regulatory hurdles. The report emphasizes the importance of supporting innovation to improve Canadians' standard of living and outlines the role of government funding in fostering advancements in technology.