By Scott Amyx
Your boss tells you to create the next multimillion-dollar blockbuster product. After all, you are the expert. Yet, no matter how much your team tries to think outside of the box, your innovation iterations can’t seem to break through the legacy product. Sure it has better bells and whistles, but at the end of the day, it’s still the same widget with a new name.
Touting Innovation Isn’t Innovation
Some companies resort to “fake it until you make it” through innovation by association. Innovation becomes a marketing budget line item. They sponsor splashy events and hackathons and invite startups to award ceremonies for PR photo ops. Others run company accelerators but struggle to create an innovation pipeline that isn’t crushed by the parent organization’s bureaucracy and political roadblocks.
A few, such as Amazon’s Lab126, manage to innovate successfully. They check all the boxes: autonomy, multi-year budget, unwavering commitment from CXOs and the innovative culture to fail with discipline. But if your company isn’t ready for an organizational design overhaul, how can you think outside of the box to get substantive wins?
The Symbiosis Of Human-Machine Innovation
According to a recent study, companies can systematically achieve better innovation outcomes by utilizing a combination of crowdsourcing and artificial intelligenc (AI) computation to create serendipity. Great ideas don’t have to occur once in a blue moon; they can happen consistently. The researchers assert that great ideas are inspired from other domains, which is referred to as analogical innovation.
To read the full article, visit Forbes: https://www.forbes.com/sites/forbesnycouncil/2019/04/25/how-to-set-your-company-up-for-consistent-innovation/
About Scott Amyx
Managing Partner at Amyx Ventures, Top Global Innovation Keynote Speaker, TEDx, Forbes, Singularity U., SXSW, IBM Futurist, Tribeca Fellow
