Chris Tidrick’s Post

"Innovation" is today's dynamic market is the buzz word and given we are in a Digital era, this cannot exclude AI . I have come across large organisations investing resources to set up Innovation Hubs/ Labs and yet most of them fall short on delivering impact in the business growth. For example a Healthcare set up getting starry eyed to implement a AI -Telemedicine tool without a Data & Digitisation Strategy, or a Pathology Service Lab investing time and efforts of its talent in evaluation a AI solution while still being on glass slide process. Pursuing disruptive ideas without a sight on medium term and long term strategy can very quickly drain organisation's resources with no meaningful outcomes. Embedding Strategy into Innovation process helps prioritise, allocate resources , building teams and and scale up . A great read on 5 step approach to link strategy process to innovation process to leverage strengths and deliver meaningful growth. #innovation #strategy #digitisation

- There is a growing need for a fundamental overhaul of innovation systems to adapt to rapid technological advancements and evolving market demands. - Successful innovation strategies must integrate agility, collaboration, and a robust digital infrastructure to foster continuous innovation. - Can organizations effectively balance the need for structured innovation processes with the agility required to respond quickly to emerging opportunities and competitive threats? #AI #Innovation #Product

Economic uncertainties require companies to reevaluate their priorities. Innovation remains key – yet, how it is done will significantly change until 2030. Our new study demonstrates: AI will become a central driver. It will not only alter what we develop, but also how we innovate. AI will identify new business opportunities, accelerate processes and automate routine tasks. Read more about these changes and how companies secure their innovation capabilities:  https://shorturl.at/sQ5id Many thanks to all co-authors and contributors including Kai Engel, Martin Ruppert, Manuel Seuffert, Hannah Leighton, Clemens-Maria Pfefferkorn, Evan Gutoff, Neal Hansch, Oana-Maria Pop, Elena Siegel #innovation #innovationmanagement #researchanddevelopment #rdimanagement #kearney #imp3rove

Process optimization will not solve your problems if it is not complemented by a good strategy and a bold investment in innovation. Here are some insights for you from the Boston Consulting Group (BCG): - 83% of companies consider innovation as one of their three priorities, but only 3% are ready to turn their priorities into results. - A close connection to business strategy focuses investment in innovation, and also ensures a better outcome of innovation. - The application of generative AI can be a powerful tool to help organizations transform their innovation potential and all this works perfectly with the help of three phases of the innovation cycle: strategy development, creation and scaling. Read more about rebooting the innovation system for your business at this link: https://lnkd.in/dDFWU9eE =none&utm_geo=global&linkId=477048222 #BCG #genai #processoptimization #businessstrategy #investment #innovation

Innovation is the lifeblood of progress and the driving force behind the advancement of sustainable development goals. In a business context, it’s the ability to conceive, develop, deliver, and scale new products, services, processes, and business models. Innovation can create value, enhance productivity, and foster competitiveness. The potential of innovation fuels hope. But all too often, that hope is dashed by ineffective execution. What does it take to really spur innovation? “Efforts to focus an organization’s culture on innovation must be both systematic and intentional,” say McKinsey’s Matt Banholzer, Andy West, and coauthors. This World Creativity and Innovation Day, check out our insights to learn how top innovators outperform peers, drive innovation with generative AI, and create a culture that accounts for the human side of innovation… https://lnkd.in/gPe_NV-F https://lnkd.in/gXWqjQN2

In today's rapidly evolving business landscape, the secret sauce to staying ahead isn’t just profound knowledge; it's the courage to innovate. Organizations that foster a culture of innovation are setting themselves apart, often leading their industries into new frontiers. Technological advancements like AI and automation aren't just tools—they are catalysts that can transform challenges into opportunities, if embraced strategically. As businesses, the decision isn’t just about adopting technology but integrating it into the core of our strategic vision. The real question is, are we willing to venture into the unknown to discover new possibilities? Let's be brave and redefine what's possible together. #Innovation #BusinessGrowth #Technology I’d love to hear your take on how innovation is shaping your industry. Share your thoughts below!

GenAI has huge potential to transform the innovation process (duh), but how? Well, here's a list of use cases that you can try out in your projects. Courtesy of BCG.

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 #

While BCG continues its great contribution to innovation with the 18th version of its Most Innovative Companies report, I have a serious issue with one of their recommendations. From time to time, big consulting companies continue to overhype some emerging themes. This time it is Gen AI. This report would mislead organizations to believe that if they aren't having a Gen AI project, they aren't innovative! Nothing can be farther from truth. Gen AI is an important innovation enabler. But innovation is about solving problems that are unsolved and/or being inefficiently being solved by existing solutions. Is Gen AI the only solution? NO not at all. Earlier the big firms kept pushing other tools, digital transformation, Industry 4.0, etc. Where have they gone? Would love to have your views Magnus Penker Eoin Flavin Anirban Ganguly Allan Fors Peter Glasheen Peter Schumacher Janus Juul Rasmussen Poul Skadhede #innovation #GenAI