“The actual path of a raindrop as it goes down the valley is unpredictable, but the general direction is inevitable,” says digital visionary Kevin Kelly — and technology is much the same, driven by patterns that are surprising but inevitable. Over the next 20 years, he says, our penchant for making things smarter and smarter will have a profound impact on nearly everything we do. Kelly explores three trends in AI we need to understand in order to embrace it and steer its development. “The most popular AI product 20 years from now that everyone uses has not been invented yet,” Kelly says. “That means that you’re not late.”
Using personas in your design thinking framework is important, but are the results satisfying and clear? In this article, Product Innovation Manager Alex Igor Sanghikian discusses the Adjacent Possibilities framework for product management. By exclusively focusing on your persona’s one main need and trying hard to fulfill that need with your product, you can build the next feature with a more focused vision.
In this in-depth article Haydn Shaughnessy discusses why traditional ROI decision making is becoming irrelevant and how options planning is a key element of competitiveness. In these uncertain times firms need to recognise and analyse their options thoroughly in order to be ready for inevitable change.
Ron Gutman, founder and CEO of HealthTap, discusses the need to balance broad strategic thinking with a granular-level understanding of the fundamental human experience that a new product seeks to improve or create. As an example, Gutman explains how his digital-health app is just an extension of the archetypal interaction between healer and patient.
The importance of innovation for organizations to remain competitive is widely discussed and well accepted by scholars and practicing managers. However, failures in innovation attempts are quite common and raise many questions. Why do firms with innovative products fail? Does market acceptance of innovations alone guarantee continuous success? Is it innovation strategy that can ensure long-term prosperity? One can argue that it is not only how to innovate that matters, but also where, what and when to innovate that make the difference.
Innovation proves vital for companies across industries, but carries key importance in the technology field. Mainstream perception of the tech industry conjures illustrations of cutting edge, never-before-seen products poised to disrupt and revolutionize daily lives.
Why do so many companies seem to be sitting on the sidelines when it comes to creating connected products and designing services that tie into them? The cost of adding wireless connectivity to a device is plummeting toward $1. Projections about how many Internet of Things (IoT) objects will be part of our lives, at work or at home, range from 12 billion by 2020 (Cisco) to 50 billion (Ericsson and Intel).
Consider the world’s most ingeniously designed products. Whether it’s your smartphone, your favorite racing bike or a nifty robotic lawn mower – they all have a one thing in common: rather than being conceived overnight, they were shaped by a series of consecutive, systematic innovations. But how does such a structured product innovation approach look? This CREAX project illustrates the ins and outs.
What should a roadmap that helps you develop corporate innovation capabilities look like? How do you bring new thoughts and approaches together with current and past initiatives (both successes and failures) and turn this into a single framework? How do you keep pushing and developing your organization to become more flexible and agile without losing out on the current overall efforts and expected results?
August 9, 2016 | By: Tomas Vedsmand, Søren Kielgast & Dr. Robert G. Cooper | In: Strategies
Recent experiences show that Agile project-management methods can be used in the innovation process and has a great potential to reduce development time and increase the success rate of new products. The article briefly outlines how an Agile method, such as Scrum, can be used within a structured innovation process with milestones and decision points, such as Stage-Gate®, and what benefits it provides to both manufacturers and service-providers.
Many companies develop their new products in secret and behind their own closed doors. They then launch their radical new approach with a fanfare of marketing expenditure. They are often disappointed. Paul Sloane looks at how organizations can harness the power of randomized control trials to drive successful innovation.
During a special appearance at Stanford University, Elon Musk discusses the double-edged sword of paying close attention to tiny details. The iconic entrepreneur behind SpaceX, Tesla Motors and Paypal was on stage with DFJ General Partner Steve Jurvetson to kick off STVP Future Fest, a daylong series of events exploring how technology and scientific breakthroughs will shape society.
Even before the term was coined in Wired Magazine in 2006, crowdsourcing was utilized as a way to accomplish goals. The strategy had been used for several hundred years before it was officially given a name, but since being named, crowdsourcing has grown into a huge field, spawning subdivisions of the strategy and being used for a multitude of purposes. Wikipedia is one of the most recognizable and mainstream instances of crowdsourcing, designed to elicit and compile knowledge from the masses. Crowdsourcing has been used in real time to track public transportation and traffic updates with various apps.
Play Bigger Advisors Co-Founder Dave Peterson emphasizes that entrepreneurs must be able to articulate the problem they seek to solve if others are to understand their vision. Successful marketing also persuades people to care about a problem they weren’t aware of before, and your solution for it. “Understanding the problem is the first step,” Peterson says.
The human vocabulary with millions of words is adequate to explain all of our expectations and experiences, even those which are imagined. Why not harness the power of language to discover new products and services? Author Shanta R Yapa shares the Innovation Tautogram technique, which can be used as an individual or a group exercise.