Examples of Technological Innovation with Potential Impact on Business

Examples of Technological Innovation with Potential Impact on Business

Innovation is vital for business growth. Developing a product innovation and technology strategy is essential for success. Technological innovations like AI, 5G internet, Blockchain, Edge computing, and the connected industrial workforce have made a significant impact in the business world. AI has automated work, processed natural language, and provided analytics. 5G internet provides faster connections and improved device capacity. Blockchain has enhanced electronic currencies, increased efficiency and trust, and solved problems. Edge computing provides better asset management, production monitoring, and traffic control. The connected industrial workforce improves workforce efficiency and competitiveness by enabling machines to do things humans cannot, like learning and pattern discovery.

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More Innovation Resources:

How leaders can build a more creative & innovative culture Dr Ken Hudson

Leaders must build a creative and innovative culture by fostering idea receptivity, experimentation, risk-taking, enjoyment of the process, focus on results, and operating at the edge of chaos.

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Innovate on Purpose: 3 innovation types: evolution, preventative and creative

Innovation should focus on short-term goals to be relevant to executives and managers. Three categories of innovation include constant evolution, preventative, and creative.

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Individual Creativity vs. Organizational Creativity (Updated)

Organizational and individual creativity are different but connected. To improve organizational creativity, companies must focus on the right people, environment, and idea management processes.

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