The article also highlights the need for companies to address biosecurity and biosafety issues as biotech spreads across industries. It suggests the need for chief biotech officers to implement biotech solutions and for educational institutions to adapt their curricula to meet the increasing demand for skilled biotech workers. The author concludes that organizations developing biotech strategies and onboarding the right skills will have an early advantage in the growing bioeconomy market.
Key takeaways:
- Biotechnology is quickly becoming a major methodology for delivering non-biotech products and services, with the current global value of the bioeconomy at $4 trillion and projected to grow to $30 trillion.
- Biotech is impacting a growing list of industries, including climate tech, AI, fashion, food and agriculture, and personal care, with potential for energy-efficient and sustainable solutions.
- Companies will need to embrace biotechnology and hire chief biotech officers (CBOs) to navigate its adoption, similar to how they embraced automation, software, cloud computing and AI.
- Biotech strategies need to address biosecurity issues and biosafety from the outset, and educational institutions need to adapt their curricula to meet the increasing global demand for skilled biotech workers.