Recent advances in technology put Internet-of-things (IoT)-innovation on top of the management agenda across industries. It is predicted to increase economic value by $11.1 trillion in 2025 (McKinsey 2015). The Service Science Factory and Noventum collaborated on this article to present a state-of-the art view on the Internet of Things and how to implement this vision within organizations.
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.
Nearly all executives have acknowledged the relevance of digitization and related trends, such as the Internet of Things, connectivity, and industry 4.0. However, the full impact of digitization has usually not been understood in detail. Moreover, most firms struggle to implement digitization initiatives successfully.
Too many notes, Mozart was once told. Too many ideas, we might say today. The culture of innovation is awash with idea generation and its sidekick, fail-fast fail cheap innovation. Worse, we need a culture of transformation not just innovation. Accenture recently reported that 81% of executives they interviewed see platforms as central to their strategy over the next three years.
Pamay Bassey is a multi-talented professional with deep expertise in learning theories derived from artificial intelligence research and practical experience designing and developing highly-rated learning solutions. In this week’s episode of the Innovation Ecosystem Podcast Pamay discusses how she went from employee to entrepreneur to intrepreneur, and how to provide engaging opportunities for employees where they feel like they’re being challenged or learning new things on a regular basis.
Let’s face it, running a business in today’s world is a formidable endeavor: change and disruption have become the new norm. In an effort to keep up, innovation is at the top of every executive’s priority list and new innovation methodologies, training and strategies are available every day. But is all the hype really helpful while Western businesses and policy-makers are working under an outdated paradigm?
The fate of technology is not an undecipherable enigma that only engineers at Google, Amazon, or Samsung can solve. We can make better decisions in the present by developing a smarter understanding of the laws that govern technological evolution, of how it behaves over time, and what lies over the horizon. If we start thinking about these issues today, we can turn our discomfort into action.
In this chapter of The Innovation Formula Langdon Morris examines five forces of change: technology, science, culture, the human population and climate change. The convergence of these five trends largely defines the modern world and the market environment to which we must adapt and respond. Understanding them will set the framework for the choices you will have to make, and the processes you will implement in order to create and implement your own organization’s innovation process.
As innovative brands acknowledge that content is the currency they trade for consumer attention, the big question is how best to leverage this content. To date out-of-home media to shelf talkers have relied on consumers spending a certain degree of time and effort ‘grabbing’ their content. Near Field Communication (NFC) marketing is about to change that as it introduces a disruptive new way of grabbing and sharing content, with a simple tap of technology.
We first discussed 3D printing in 2008, highlighting potential applications, the increasing range of materials being used, and the growing complexity of products which could be printed. That progress continues creating both opportunities and challenges the impacts of which companies need to assess across their product ranges and supply chains.
Citi Chief Innovation Officer Deborah Hopkins believes now is an incredible time for new companies due to the pace of cultural and technological change. As the head of Citi Ventures, Hopkins leads the banking firm’s efforts to invest in companies delivering disruptive technology products. Hopkins shares rules for revolutionary entrepreneurs and describes how Citi’s initiatives are shaped by empathy for customers and a commitment to sharing new ideas.
In their new book The Innovative University Clayton Christensen and Henry Eyring explore why higher education is heading for disruption. As budget deficits and healthcare costs squeeze government support for higher education, enrollments at traditional institutions will steadily shrink. This will force the education sector to major changes and the students will come out winners, as is typical when disruption reshapes an industry. InnovationManagement asked the writers to elaborate on trends in higher education and the way education is delivered to students.
Mobile health apps are set to change the way individuals can look after their health, doctors can diagnose and monitor patients, and medical research can collect data and develop their research. As health apps go from ‘dumb’, i.e. use only aggregated or limited personal data to intelligent using personalised health records and genetic data, a revolution may be underway.
Global companies focused on open innovation can accelerate corporate innovation strategies by partnering with a select set of early stage, disruptive technology providers. The result can accelerate open innovation initiatives to fulfill existing market needs or to access new market opportunities while leveraging intellectual resources from outside your organization.