Leveraging AI To Spot Opportunities In Foresight & Innovation
AI is changing the way businesses view innovation management. Companies can use AI-powered innovation management platforms to collect and analyze data on relevant trends, research, patents, competitors, and startups. When combined with a thought framework of the Known Unknowns, AI can help businesses discover new windows of opportunities in product and service development. However, AI algorithms are still unable to assess the importance of trends, leaving the analysis and decision making up to innovation managers and strategists. Despite this, software-enabled solutions can streamline processes and release time for specialists to focus on critical and actionable tasks. With AI, companies can detect new trends faster than the competition and explore opportunities before others can.