The Marketing Science Institute has formed a new Innovation Roundtable to explore common issues and challenges in the world of corporate innovation. The roundtable representatives are from Johnson & Johnson, GE, P&G, Diageo, Eastman Kodak, AT&T, Kraft, Merck, Thompson Healthcare, Praxair, Aetna, and General Mills.
Optimal innovation occurs when there is an equal mix of men and women using a systematic process. I have always believed this through my observation of many innovation exercises. When a predominately male group tries to innovate, results are less impressive. When a predominately female group tries to innovate, results are less impressive. Put them together and the results are amazing.
Forrester Research, Inc. has released a new publication titled "The CMO's Guide to Driving Innovation." Cindy Commander, analyst at Forrester, has outlined best practices for chief marketing officers to drive innovation across the organization. As part of the research, she interviewed senior marketers from BMW, Equifax, GE, IBM, Johnson & Johnson, LeapFrog, and Samsung Electronics America. In addition she spoke with consultants from Innovaro, InnovationLabs, and PRTM. For companies seeking insights about innovation methods and programs, this report is essential.
This chilling conclusion about the fate of artificial intelligence seems to put an end to the idea that we can automate innovation. Since this book was first published in 1972, not much has changed, and the field of artificial intelligence seems to be in decline.
For a machine to innovate, it would need to:
1. Take a product or service and break it into its component parts
2. Take a product or service and identify its attributes (color, weight, etc)
3. Apply a template of innovation to manipulate the product or service and change it into some abstract form
4. Take the abstract form and find a way for humans to benefit from it
I like the odds of a machine being able to do the first two steps. Imagine a computer that had the ability to “Google” a product or service to create a component list. Try it yourself. Search Google for “components of a garage door.” You should be able to find several websites from which a component and attribute list could be developed. There are other resources available to machines to derive lists such as patent filings, engineering specifications, instruction manuals, etc.
Congratulations to the team at Invention Machine for hosting this week’s conference, Power to Innovate, at the Seaport Hotel in Boston. The theme of the conference centered around the Innovation Intelligence EcosystemTM and how companies can boost performance by coordinating information, communities, and innovation activities. Invention Machine’s premier product, Goldfire, is at the center of this ecosystem.
The Marketing Science Institute announced its research priorities for 2010 to 2012. The priorities are based on input from member company trustees and academic thought leaders. Topics are selected based on importance to marketers, need for more research-based knowledge, potential for achieving a more powerful conceptualization of a topic or issue, and the extent to which the topic can benefit from MSI’s capabilities in fostering collaboration between practitioners and academics.
People can improve the quality, originality, and elegance of ideas by extensively forecasting the implication of those ideas during the generation phase. Researchers from The University of Oklahoma studied the effect of forecasting on idea evaluation and implementation planning. In the experiment, 141 undergraduate students were asked to formulate advertising campaigns for a new product. These campaigns were evaluated by a panel of judges. Prior to formulating the campaigns, participants were asked to forecast the implication of their ideas and the forecast the effects of a plan for implementing their best idea.
The Centre for International Business and the International Economy at the University of Pavia is conducting a comprehensive study on how companies leverage innovation as a competitive weapon. It seeks to uncover the different strategic models and managerial practices adopted by the most successful and innovative firms to achieve a competitive advantage.
This month's Academic Focus features Professor John Hauser and the highly-regarded team at MIT. Perhaps no other university in the world stands for innovation as much as this one. MIT is an innovation powerhouse because of the way the faculty looks at innovation through multiple lens and collaborative approaches. MIT is great blend of innovation research, technology research, and commercialization research.