Cross industry learning, the transfer of technologies across industry boundaries, can revolutionize technology landscapes. We will illustrate the advantages of cross industry learning with a case study.
The revolution in self-driving vehicles has advanced faster than insurance companies can react to it. These cars introduce unique factors that must be integrated into the models that are used to set insurance premiums. At this time, coverage for self-driving cars is set using the same formulas as for traditional cars. Not long ago, there was a fatality involving the Tesla Model S. This occurred while the vehicle’s Autopilot mode was active. The case brought new attention to the risks of using self-driving cars on the road, and insurance companies noticed.
This year’s Management Innovator Award was won by a team of experimenters for their unconventional approach to organizational governance. The Budapest-based Society of Management Innovators announced the results of the international competition on December 16th, 2016.
The IoT (or “Internet Of Things”) is becoming a more popular topic of conversation these days. Many have already realized this with regard to individual use (say, through fitness trackers) or “smart homes.” But the IoT can also have a huge effect on the workplace – here’s how.
Judging by experience, most top managers and innovators feel that they are in a maelstrom of change. For some, the rate of change and the magnitude of the consequences induced are so high that they feel a kind of ‘Present Shock’ – a term coined by Douglas Rushkoff, building upon Alvin Toffler’s concept of Future Shock, to describe the psychological impact that occurs when too much is happening simultaneously.
In early September 85 smart people gathered for two days at the Pfizer conference center in New York City to talk about their practical experience in identifying, engaging, driving value from and (at times) failing with the most innovative employees in their respective businesses. The 2016 Corporate Intrapreneur Summit was 100% on point in targeting key areas of interest around how intrapreneurs in a corporate setting.
Design Thinking Leaders discover innovative ideas by working through challenging, and often chaotic, situations where disruptive opportunities are typically hidden. These creativity-minded professionals embrace the consumer’s perspective and balance that with the brand’s needs and aspirations. The result? Simple, yet radical solutions that seem so obvious in hindsight.
In 1946, Soviet inventor and science fiction writer Genrich Altshuller developed a methodology called TRIZ. It became known as “the theory of inventive problem-solving” and was based on a simple premise: across different disciplines and applications, the same challenges occur again and again. Unfortunately, people keep solving nearly identical problems from scratch. The main lesson from TRIZ is this: if you understand how your innovation challenge is similar to someone else’s, you can reapply solutions that already exist, instead of reinventing the wheel time and again.
The financial landscape is changing and the crowd is uniquely suited to help banks and other financial institutions solve some of the challenges they face. In this article, we look at five tech trends and how they’re changing how financial institutions interact with their customers.
Innovation that Matters examines and ranks 25 cities’ readiness to capitalize on the inevitable shift to a digital economy. It carves out critical trends every U.S. city leader can learn from and offers recommendations local leaders can adopt to strengthen their region’s digital competitiveness.
I love a good quality innovation conference. There are plenty of crappy innovation events out there, but I have to say that this year’s Front End of Innovation conference in Boston (#FEI16, @FEI_innovation), provided a boat load of inspiration and occasional moments of delight. So I wanted to outline some of the key themes that I saw coming out of this year’s event.
The Internet has forever changed how we work with innovation. Author Marta Domínguez spent the last five years observing the causes and effects of the digital wave and has gathered a list of 22 impacts on the world and your business.
The future is hard to predict and a lot of “experts” regularly get it wrong. However, there are some facts so important and trends so inevitable that leaders would be ill-advised to ignore and not try to anticipate. Here are three of many future megatrends that will not necessarily determine what will happen, but will most likely have a big impact on everybody’s business in the coming years to decades.
What will the product of the future be like – and how will it be different than today’s products? Generally, all products will become part virtual, part physical. They will be connected, reconfigurable and – hopefully – smart. Also, the business model for their manufacturers will be dramatically different.
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.