A holistic debate on digital innovation is unfolding.
INDID gives voice to the innovative side of the senior technology leaders and the organizations they work for. It’s indeed delightful to get an opportunity to weave multiple perspectives together and create a complete discourse on innovation. We started the journey with a hazy picture of innovation as a multi-faceted construct, and as we make progress, this picture is becoming clearer.
Putting together perspectives of 14 thought leaders has been quite an exercise but worth every bit of it. Many sides of innovation have emerged. Three dimensions – Ds, As and Es of innovation have been captured.
A big thank you to them for their participation and support. We believe the discourse will only get stronger as we continue this exercise in the weeks to come.
Businesses are harnessing digital technologies to both innovate and help individuals innovate.
Innovation in 3s
3 essentials of innovation – drive of motivated individuals, defining context and value determination by organizational goals (Ds).
3 distinct and broader objectives of innovation – efficiency, customer experience and conducive environment (Es).
3 digital technologies for innovation – automation, data analytics and artificial intelligence (As).
Our analysts believe 3 Ds are basic to any innovation. Belonging to the bigger realm of the organizational being, it’s essential to have motivated individuals with a drive to innovate, sharing a common dream. An idea is innovative or not is defined by the context which it is embedded in, the same idea may be innovative for one and not innovative for another context. Similarly the value of innovation is determined by the superordinate goals of the organization. E.g. if cost leadership is a strategic goal, any innovative idea that helps enhance efficiency on a sustained basis will be valuable. We expect to witness more discussion around these elements over time that will help us operationalize them in concrete terms.
Then there are 3 Es as objectives. Efficiency is seen as strategic. Gone are the days when it was considered as an operational construct, not the cup of tea for the elite strategists. Today, being ruthlessly efficient is a war cry, a strong strategic intent from the highest levels of an organization. Creating new experiences for the customers, often a result of innovative interfaces, continuous behavioural analysis and use of bots, is another side of innovation. How customers’ lives can be made easier throughout the life cycle is the prime focus of automation, analytics and bots. It often requires continuous innovation as customers’ demand does not remain static, it constantly increases. A conducive environment for individuals and teams to innovate is the third but an equally important strand identified. Freeing people from day to day operational hassles, giving them the data and insights that they need and granting them the power to act faster helps people to devote their energies and mental bandwidth to better things. It helps them innovate.
And finally there are three As that are fundamental technologies for innovation. Digital innovation is made possible by relentless automation, focus on data for analytics, and use of artificial intelligence to build autonomy. The 3 As of digital innovation have relevance across business levels and domains. E.g. they are relevant for finance as well as IT management.
The fourteen thought leading pieces by the senior industry leaders bring forth one or more of the Ds, Es and As of innovation. We hope you will enjoy reading their perspectives.
INDID eBook – November, Issue 1
If you have a story or a perspective to share, we would love to hear and include that in the discourse.