Our recent survey of 150 companies and 300+ solution providers revealed five key lessons on “innovating in the digital age”
- Digital technologies (such as AI, advanced analytics, self-learning systems and IoT) are expected to partly or even completely transform the way innovation gets done, according to 93% of all surveyed companies
- The most important technologies can be grouped into three families, depending on what they bring to innovators
- those that boost intelligence, for instance about customer needs;
- technologies that bring better and faster foresight, e.g. concerning product performance;
- digital solutions that improve and accelerate collaboration, communication and learning
- Almost all participating companies expect to fully digitalize their innovation engine or even their entire company; and that this will go hand in hand with the digitalization of their products, services and business models
- Important barriers are the shortage of “digital thinkers” and capabilities; and because of this relative ignorance many industrial companies still miss a clear view on concrete business benefits and ultimately a strategy for change
- There is no such thing as a “best practice” that can simply be followed but successful companies tend to follow a threefold approach:
- Design solutions for broad user adoption for established digital solutions;
- Run controlled piloting programs for cutting edge digital technology applications;
- Monitor and experiment with potentially disruptive ones