Nowadays, the words “innovation” and “creativity” get thrown around a lot in the business and academic world. But the road to making successful innovations is filled with challenges, opportunities taken or missed, and plenty strikes of luck. Often, people invent machines to face a recurrent problem. These inventions, in turn, spawn other inventions and innovation. These types of inventions have the most impact on society. Here’s looking at three inventions that have changed our lives forever.
Have you ever wondered where great ideas come from? If your company has ever stalled for the lack of innovation, then you’ve probably thought about it from time to time. Innovative ideas can come from nothing, or from a long process of brainstorming and debate, but it always seems like some industries are consistently coming out with the best new products and processes, while others lag far behind. This isn’t your imagination; some industries are moving much more quickly than others. But which industries are the most innovative, and what sets them apart?
These days, when migrants arrive at a refugee camp, one of the first things they ask for is access to WiFi and electricity to recharge their cell phones. Their smartphone is as basic a resource for survival as food and water. This is a vivid reminder of the fact that we are fully immersed in a digital world.
Today we have the capabilities – and the increasing customer expectation – to have everything immediately available, easy to use or handle, but still totally tailored to each of us individually. We live in an age where personal tailoring on industrial scale is becoming the norm, not the exception. Michael Bednar-Brandt, Director Digital Transformation EMEA at Oracle, discusses the move from products to service models and how it has naturally started to impact business models.
Visions and consequently major innovations are molded by the technical and human revolutions that industries live in. In a time when just one big industrial revolution existed, every company simply had to follow the common path (see production automation in the 60′s-70′s). The 20th century car industry was a good example. Then Internet technology came onto the scene (more complex and diverse than the web from the early 2000′s) and the thread for innovation is no longer so straight forward.
Paul Brody is a Global Innovation Leader in BlockChain Technology and a Solution Leader in the Industrial Internet of Things at EY. Paul has spent more than 15 years in the electronics industry and has done extensive research for his clients on technology strategy. Paul understands that technology is deeply rooted in strategy, but it gets complex as new technologies and disruptions arise in our modern world. For example, the moment self-driving cars are perfected, it will cause a huge disruption in our economy, so how can we navigate through it?
September 15, 2016: In recent weeks we continue to see big name brands tap into the creativity of the crowd for product and service design ideas. In the arts, Beatles fans and Indian citizens contributed footage for new documentaries. Health agencies are using the wisdom of the crowd to find solutions to drug-resistant bacteria and new online platforms help catalog our galaxy. Law enforcement is improving traffic and street safety via crowdsourcing apps; in Oslo a new app is designed and used by children. In an interesting turn of events, crowdsourcing has converted into a system of checks and balances between law enforcement and society. After recent stories of police misconduct in the US, its citizens are now providing data from inside the courthouses to monitor unjust hearings.
Automotive industry insiders admit to seeing potential new market entrants from Silicon Valley as a “competitive threat”, and say the only way to stay ahead of the game is through partnerships and collaborations between both the traditional auto players and other IP owners. These views, and many more, were expressed at IAM’s recent event on IP in the auto industry, which Auto Harvest co-hosted with World Trademark Review at the start of this month.
What is top of mind in the world of product management? What does the product manager seek? How might the practice of collaborative innovation help the product manager achieve their goals? The innovation architect Doug Collins shares his perspective on these questions based on his recent participation in a product management summit.
In cities all over the world an ugly war is being fought by “traditional” taxi companies against a new form of competition from Uber and other ride-sharing services. This article points out three things traditional taxi companies have in common with businesses of the past.
Booz&Co wrote in their article “The Social Life of Brands” on Strategy+Business that the value of a brand is linked with the relationships it has with its customers, creating and retaining them. For marketing, its fundamental task is managing these relationships. In a recent research by Gallup the results were striking, a 240 percent boost in performance was achieved when both employees and customers were enaged. This is exactly, in a highly technological driven business environment, digital innovation is the catalyst that improves engagement and provide means to manage relationships better, faster and in a cheaper way though digital.
In my previous article ‘Establishing the Foundations for a Balanced Innovation Portfolio’ I discussed the important role played by key innovation foundations in the success of a systemized collaborative innovation program. Even though you’re in a less than perfect position, the important step is to recognize the relative strength (or weakness) of each foundation, then put actions in place to improve each one. In this article I’m sharing the experiences of PSA Peugeot Citroën on their first ever collaborative innovation campaign.
Driverless cars are getting closer to reality. The technology exists today and has been successfully tested on roads. Governments are discussing legislation to allow driverless cars on roads in many countries. Two US states, Nevada and California, have passed legislation to allow driverless vehicles. Much of the discussion is about the technology and the benefits it can provide: better traffic flow, more cars on the road, and safer driving with fewer accidents. But what about the non-technology issues: the economic, social and legal issues surrounding this technology?
Since 2009, Local Motors, an Arizona-based automaker, has encouraged its customers to build their own vehicles based on winning designs from competitions launched on the company’s website. It is one of the oldest and arguably more successful examples of crowdsourcing.
A brand new study by German innovation expert Ili Consulting shows that the advantages of open innovation have been understood and adopted by managers of German car manufacturers and their suppliers.