Social innovation emerged as a key focus for companies seeking to create tangible societal impact while driving business growth. The Schwab Foundation’s Rise Ahead Pledge expanded to 24 companies committed to addressing a $1.1 trillion funding gap in social innovation globally. These companies leveraged AI, partnerships with social enterprises, and new funding models to tackle pressing social challenges including healthcare access, education equity, and economic empowerment. Medtronic Labs accelerated technology-driven healthcare solutions for underserved communities, while IBM expanded its “AI for Social Good” program partnering with governments and NGOs. This growing corporate commitment signals a reshaping of traditional business roles towards deeper integration of social purpose as a strategic driver, reinforcing that social innovation is essential to sustainable business success.
For detailed analysis: https://weforum.org/stories/2024/09/social-innovation-companies-impact-brand
