First of all, you have to assess the situation and act in such a way that the other baby is not in danger. It all depends on the length of the pregnancy and whether or not the twins share the placenta.
Generally, it is not advisable to induce labor unless it is strictly necessary. If it is still too early to give birth, it is best to continue with the pregnancy so that the living baby has more time and can develop well. When the time comes, both babies will be born at the same time.