Alizee Carli’s Post

Innovation is a process not an end result. The better the process the more value you create for customers and the company. Happy World Creativity and Innovation Day! Here are some good articles innovation articles from McKinsey to get started. #innovation https://lnkd.in/gMf7Qfcn

FIRMS MUST DEPLOY DATA-DRIVEN INNOVATIONS TO APPEAL TO MARKET by Mary Moraa Product development and #innovations are essential for companies to remain competitive, drive revenue growth, reduce costs, manage risks, enhance their reputation, and prepare for the future. Without a commitment to #innovation, companies risk stagnation and obsolescence in an increasingly dynamic and competitive marketplace. However, the success of innovation comes with a price – it requires investment in funds and processes. Read more here>>> https://lnkd.in/d3dbaz8U

Product development and innovations are essential for companies to remain competitive. drive revenue growth, reduce costs, manage risks, enhance their reputation. and prepare for the future. Without a commitment to innovation, companies risk stagnation and obsolescence in an increasingly dynamic and competitive marketplace. However, the success of innovation comes with a practice ­ it requires investment in funds and processes.

For 18 years, Boston Consulting Group (BCG) has been asking senior executives about the importance of innovation, and this year's survey reveals a big gap in readiness. Companies care more about innovation than ever, but many aren't prepared to meet their goals.   In the Middle East, innovation is crucial for growth and sustainability. However, many businesses find it challenging to align their innovation efforts with their overall strategy, which can limit their effectiveness.   A key insight from the report is the low use of new technologies like GenAI, with only 8% of companies using it effectively. This presents a huge opportunity for those who can integrate these technologies into their operations.   Key tips for leaders in the region:   Align Innovation with Strategy: Make sure your innovation projects support your overall business goals. This helps focus efforts, use resources wisely, and achieve better results.   Embrace Emerging Technologies: Assess which technologies align with your business goals and can offer the most significant benefits. Not all emerging technologies will be relevant to your business, so focus on those that can enhance your operations, products, or customer experiences.   Build Strong Systems: Create systems that encourage new ideas and make it easy to test and implement them. This means having the right processes, a supportive culture, and ongoing investment in innovation. These systems help businesses adapt to market changes and stay ahead of the competition.   Read more about our findings and how we can support your innovation journey in the full article: https://lnkd.in/dPc2A8kW   #InnovationSystems @BCGinTheMiddleEast #GenAI

🔄 Innovation Systems Need a Reboot Companies have never prioritized innovation more, yet they've never been less prepared to meet their aspirations. BCG's latest report lays it out: 2022: 75% prioritize innovation, but only 20% are truly ready. 2023: Prioritization rises to 79%, yet readiness drops to 9%. What's happening here? 2024: A whopping 83% prioritize innovation, but readiness plummets to a mere 3%. 🤯 The widening gap between prioritization and readiness signals an urgent need for strategic rethinking. Despite 86% of companies experimenting with GenAI and 70% planning to update their innovation models, only 3% can translate priorities into results, with over half citing unclear strategy as a top challenge. Report: https://lnkd.in/dp49tdrz #innovation #innovationmanagement #GenAI

Excited to share this insightful report from Forrester Research on how GenAI is revolutionizing the innovation lifecycle. Proud to see our Innovation Co-Pilot powered by EY CogniStreamer featured. This is a significant step towards the future of innovation management, aligning perfectly with our roadmap and vision for a semiautonomous innovation process #semiautonomousinnovation #cognistreamer #innovationcopilot #

Through the survey of over 1,000 senior executives, our annual innovation report highlights that nearly all innovators are exploring GenAI. However, there is a gap for organizations between the priority of innovation and the readiness to deliver on their innovation goals. Strategic misalignment is the root cause of this disconnect, as our experts have determined through the findings in this report. If you’re looking to speed up, streamline, and bring a fresh perspective to your organization’s innovation system, explore BCG’s ‘Deploy-Reshape-Invent’ framework that will help you to do just that: https://lnkd.in/gn2qYEw3

The article "Innovation Systems Need a Reboot" by BCG argues that traditional innovation models are failing to keep pace with today's rapidly changing landscape, marked by technological disruption, complex global challenges, and shifting consumer demands. It suggests that companies must move beyond incremental improvements and embrace a more holistic and agile approach to innovation. Key recommendations include integrating diverse talent pools, leveraging advanced technologies like #AI, and fostering cross-industry collaboration to drive meaningful change. The article also highlights the importance of aligning innovation efforts with #sustainability and social impact, emphasizing the need for purpose-driven innovation #ecosystems. By rebooting their innovation systems to focus on adaptability, inclusivity, and purpose, companies can better navigate uncertainty and maintain a competitive edge. The article calls for a transformative shift toward collaborative, inclusive, and sustainable innovation models to address future challenges effectively and drive impactful growth. https://lnkd.in/e87Bw-25 To explore this topic further, you are invited to read my latest article and my related series published on LinkedIn and Forbes Business Council. These articles highlight the need for enterprises to revise their #digitalstrategy to incorporate responsible #innovation #deeptech #ecosystems, and the need to harmonize #deeptech innovation with United Nations 2030 and 2050 agendas. https://lnkd.in/ewZG9ng3

Innovation is a top priority for 83% of companies, yet only 3% are truly 'innovation ready,' according to our partner, Boston Consulting Group (BCG). Companies that align their business and innovation strategies achieve better results, including higher sales from new products. Explore strategies for reshaping and scaling #GenAI for impact here:https://hubs.ly/Q02VMlhM0

"We don't have any issues with innovation," is often claimed, yet only 26% of new products are truly innovative, and just 10% of executives are satisfied with their outcomes. As brands navigate turbulent innovation waters, merely staying afloat isn't enough; we must steer with intent: 𝟏. 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫-𝐂𝐞𝐧𝐭𝐫𝐢𝐜 𝐃𝐞𝐬𝐢𝐠𝐧: Transition from an internal or market-driven focus to co-designing with consumers. This shift is particularly vital in B2B sectors, ensuring solutions not only meet but also anticipate the evolving needs of your customers' customers. 𝟐. 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: Harness practical and affordable technologies, such as generative AI, and tap into your suppliers' capabilities to cost-effectively enhance your own and spark new avenues for innovation. 𝟑. 𝐏𝐮𝐫𝐩𝐨𝐬𝐞𝐟𝐮𝐥 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧: Challenge the status quo by assembling an inclusive task force of diverse expertise. This collaborative approach ensures you navigate innovation from all angles, leading to holistic and impactful strategies. Are you ready to transform your innovation strategies for significant growth? Let’s discuss how we can make it happen. #InnovationLeadership #StrategicInnovation #B2BInnovation #BrandFix