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Let us remind ourselves where those collaborations between different stakeholders deliver real change in radical, innovative solutions. Smart Grid and Energy Management : Utility companies are partnering with technology firms to build smart grids and implement energy management solutions.
For over a thousand years, these institutions have provided society’s most intelligent individuals with the highest standard of education, in an eternal quest to push forward the frontiers of science, research, and technology. The benefit with the highest potential value for any organization is radicalinnovation.
In 2022, 20% of companies surveyed were ‘innovation-ready’, but in 2023, that figure had dropped to 9%, and in 2024, has dropped to a staggering 3%! With increased competition, rapidly changing technology, and evolving customer expectations, organisations must become more agile, collaborative and adaptable.
As technology accelerates and market demands shift, understanding and leveraging innovation have become essential for staying ahead. This urgency is reflected in the Boston Consulting Groups 2024 report, which found that 83% of companies rank innovation among their top three priorities. Asking What is innovation?
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