From Samsung and Hewlett Packard to Lego and even NASA, larger companies are taking a leaf out of small firms’ books by embracing the power of human-driven innovation. Rather than traditional R&D, they have started to recognise the potential of more inclusive operating models.
The potential applications of Artificial Intelligence (AI) have been a hot talking point for businesses in recent years, particularly when it comes to the subject of digital transformation. While it is true that AI will radically alter how organisations work, experts believe that it can’t act alone: research shows that a new kind of collaborative intelligence, where humans and machines work together, is the future of innovation.
There is a reason why companies like Google, Ford, Fidelity and Marriott all have their own innovation labs. Not only do they allow room for people to experiment, explore new ways of thinking and hold the promise of creating breakthrough products and services, but they also have plenty of PR value. But do they really deliver, or are they just flashy programmes that fall short of their promise?
As part of their mission to drive progress towards the Sustainable Development Goals (SDGs), the UK’s DFID and Unilever have launched an open call for social enterprises to share their ideas, harnessing the power of open innovation through the TRANSFORM initiative.
Venture-builder Pedro da Cunha shares his secret for creating profitable startups that create value: the power of collective intelligence.
The brightest minds and biggest disruptors have always led innovation and changed the shape of business. But over the years, both studies and real-life examples have shown that the “power of many” can be much more forceful. In many ways, collective intelligence is the future of organisations everywhere.
What’s the secret behind innovation within a company? According to Linda Hill, professor at the Harvard Business School and co-author of “Collective Genius”, it is “unleashing the power of the many”.
Human experience and end-user insights are the most valuable tools for business innovation, according to the Innovation Benchmark Report conducted by PwC, which surveyed more than 1,200 companies in 44 countries.
With the population aging fast, the public budget, pension schemes and healthcare systems are under growing stress. Politicians look for economic growth to alleviate these problems. Yet, as the active labour force shrinks, so does GDP. Can innovation come to the rescue by boosting productivity?