Boosting Competitiveness in an Age of Disruption & Discontinuity

Insights from the GFCC panel at the 11th Delphi Economic Forum in Greece

The world is entering a period of intensified disruption and discontinuity, driven by the convergence of emerging technologies, the urgent push to accelerate the energy transition, rising global energy demand, and intensifying strategic competition between the United States, Europe, and China.

On April 24, the GFCC convened a distinguished group of global leaders from academia, industry, finance, and policymaking at the 11th Delphi Economic Forum in Greece.

GFCC President and Founder, Deborah L. Wince-Smith, moderated the panel Navigating the Frontiers of Innovation in an Age of Disruption and Discontinuity, featuring Christos Megalou, CEO of Piraeus Bank and GFCC Distinguished Fellow, and Simos Anastasopoulos, CEO of Compete Greece, from Greece; Fadlo Khuri, President of the American University of Beirut, from Lebanon; Bettany Hughes, Visiting Research Fellow at King’s College London and Fellow of the Society of Antiquaries of London, from the United Kingdom; and Chad Evans, Executive Vice President, COO, and Board Secretary of the Council on Competitiveness and Board Treasurer of the GFCC, from the United States.

Together, they examined ongoing technological and geopolitical challenges and explored strategies for advancing place-making innovation, competitiveness, and prosperity in the age of AI.

Below are three key takeaways from the discussion:

1) Competitiveness must be reimagined through purpose-driven place-making

Societies must rethink competitiveness beyond traditional economic metrics centered only on productivity, efficiency, or technology. Long-term prosperity increasingly depends on intentional strategies that integrate innovation, talent, infrastructure, culture, and purpose.

The world’s most resilient civilizations historically succeeded not only because of technological advancement, but because they continuously reflected on the why behind their economic and social planning. But contemporary societies are increasingly losing the capacity of having meaningful human dialogue and long-term thinking over political and economic discourses.

 For years, the Council on Competitiveness has pushed forward a new vision for competitiveness, reframing it as an interconnected system powered by imagination, insight, ingenuity, invention, and impact.

A key concept powering competitiveness discussions today is the idea of “place-making innovation” —an intentional and strategic approach to economic development. Rather than attempting to replicate models such as Silicon Valley, communities are increasingly identifying their unique assets and building tailored innovation ecosystems around them.

Speakers emphasized that successful place-making requires “curated densification” — a thoughtful approach in which regions focus strategically on areas where they can realistically compete and cooperate.

On these lines, the future of competitiveness will depend less on copying existing models and more on empowering communities to redefine their economic identity based on their own strengths and capabilities.

2) Universities are increasingly being called upon to build the ecosystems of the future

Across multiple regions globally, panelists observed a consistent pattern: places with active, engaged universities are significantly better positioned to generate economic impact, attract talent, and build dynamic innovation ecosystems.

Speakers emphasized that talent development and retention have become central drivers of competitiveness. Institutions such as the American University of Beirut and universities across Greece are implementing long-term strategies designed to retain highly skilled individuals and reduce talent drain, recognizing that human capital is now one of the most critical foundations of sustainable economic growth.

But universities cannot operate in isolation. Strong innovation ecosystems require deeper cross-sector collaboration to create effective clusters capable of accelerating enterprise growth, scaling innovation, and translating research into socio-economic value.

The GFCC has a flagship initiative on Leadership in Place-Making Innovation , which empowers universities to act as engines of economic growth and explore their role as builders of vibrant ecosystems through entrepreneurship, community engagement, and sustainable development.

Another major theme was the challenge of transforming scientific excellence into economic outcomes in places like Greece. The country was highlighted as an example of nation with world-class researchers and strong academic output that still holds low patent generation and commercialization performance.

Closing the gap between research and market application converting knowledge into patents, startups, industries, and measurable societal impact is essential to improve competitiveness in Greece and globally.

3) Strategic dependencies and competition with china are accelerating a new global race

A third major theme focused on the accelerating global competition surrounding technological leadership, industrial capacity, and strategic dependencies — particularly in relation to China. Within just five years, China’s share of global biotech deal value increased from approximately 5% to 48%, dramatically reshaping the global innovation landscape.

At the same time, the discussion revealed the extent of global supply-chain dependencies. In the United States, approximately 80% of pharmaceutical companies rely on Chinese inputs for their products, creating significant vulnerabilities and raising concerns about resilience, security, and long-term competitiveness.

Panelists also pointed to China’s rapidly expanding investments in research and development. In 2024, China surpassed the United States in total R&D spending, reaching approximately $1.03 trillion several years earlier than many analysts had anticipated, a major wake-up call that is fundamentally transforming the global competitive environment.

The broader implication, participants argued, is that nations and regions must now rethink industrial strategy, supply-chain resilience, talent development, and innovation policy within a far more contested and rapidly evolving geopolitical landscape.

Discussions also reinforced the importance of global collaboration and shared learning. International networks such as the GFCC were recognized as critical platforms for helping regions exchange best practices, accelerate institutional learning, and identify innovation-driven pathways for economic transformation.