By 2018, 70 percent of utilities are predicted to launch major digital transformations in response to the challenges faced in their current business model. For utilities, vendors, and regulators, the challenge is not just to examine and optimize existing processes, but also finding entirely new ways of conducting business in a digital grid across a vast number of areas and functions.
Becoming an entrepreneur does not always mean starting a multi-million peso company, sometimes it could be as simple as starting a home business. Rey Runtgen del Rosario, president of Philippine Innovation Entrepreneurship Mission Inc., believes that local communities can work together to establish small household entrepreneurship projects.
Most businesses wouldn’t survive without driving demand for their products or services, either through marketing and advertising or through involving users so deeply in the design of the product that word of mouth spurs adoption. The same is true for social innovators. However, unlike many business leaders, it is easy for social innovators to overlook making an intentional effort to drive demand because the need for their innovation is so great. But even the most needed innovation does not sell itself.
Fear can be a debilitating, even crippling, emotion. When fear creeps into the workplace, whether it’s fear of making a mistake, fear of being fired or fear of conflict, it leads to decreased productivity and a lack of innovation.
At this rate, just about every man-made surface there is could be covered in solar panels in the future. Yesterday, Tourouvre-au-Perche, a small town in northern France, opened what is likely the first road paved in solar panels in the world, the Guardian reported. The road is roughly 1 km (0.6 miles) long, with one lane covered entirely in a patchwork of small solar cells that look rather like bathroom tiles, or a very dirty version of the road in the Wizard of Oz.
SINGAPORE: Companies across all sectors need to continue innovating and transforming, in order to sustain Singapore's economic growth and competitive advantage in the global market, said Minister for Manpower Lim Swee Say.
Speaking at the second Singapore National Employers Federation (SNEF) BeyondSG50 CEO and Employers Forum on Thursday (Feb 16), Mr Lim said: "With a workforce that is growing slower, we face a greater risk of running out of growth capacity, if we are not able to break our manpower bottleneck with pervasive innovation."
These leaders are changing our world for the better. We find out how they get the job done.
There are a handful of business leaders and industry figures in Britain who are changing the world. From Cindy Gallop to Lauren Armes and Sally Gunnell, these smart people seem to get an incredible amount done, in an impossibly short space of time.
Sure, we might find it easy to focus on new mobile apps, fancy consumer gadgets and new vehicles, but some of the coolest disruptions and innovations of late have occurred behind the scenes, in industries a bit less sexy.
My personal favorite at the moment is tracking technologies. Here are three cool ones we can expect to be the driving force of major changes in our lives
Nearly two-thirds of companies with well-established advanced analytics strategies report operating margins and revenues of 15% or more, according to a report developed by Forbes Insights, in collaboration with EY. The report, Data & Advanced Analytics: High Stakes, High Rewards, revealed that among those organizations who have an analytics strategy that is well-established and central to the overall business strategy, rated their competitive ability in data and analytics as market-leading. Of these organizations, 66% achieved revenue growth of 15% or more, while 63% reported that operating margins had increased 15% or more in 2016. In addition, 60% of these companies said they also improved their risk profiles.
I didn’t get around to covering it when I first received a sample, but 72U (the creative residency from 72andSunny) built a pretty neat compass device it calls LOCU. Every 60 seconds, it checks your environment measuring temperature, sound, and light so you can foster the optimal conditions for being creative.
During this year’s Super Bowl, Ford aired a commercial showing how it’s working on new ways to solve transportation problems. Many companies are engaged in similar efforts as they strive to remain one step ahead of market-changing startups like Uber, WhatsApp, Slack, and Snap. And when internal research and development efforts aren’t enough, companies turn to innovation programs, which can take many forms, depending on the area of focus.
You’re working on a new venture and you know you’ve got to create a plan to execute it. So you look at past projects, gather and analyze relevant market data, make predictions about how much revenue you’ll be able to generate, decide what resources you’ll need, and set milestones to reach your targets. Right? Not so fast. That process might work for conventional or ongoing business lines, but new ventures, which are less predictable, require a different set of planning and control tools. That’s where the discovery-driven planning (DDP) process comes in.
In a business environment defined by rapidly accelerating change, the speed of harvesting and implementing ideas for new products, services or business models will become the key to growth, differentiation and competitive advantage for your business.
Only five years ago, the autonomous vehicle future seemed like a distant vision. This year at CES, the “frenzy” over autonomous vehicles stole the show with dozens of live demos, partnerships, and product announcements. In fact, 13 of the world’s 14 largest automakers have announced plans to bring autonomous vehicles to market, and 12 of the world’s 14 largest technology companies have announced plans to build technologies to support and operate autonomous vehicles.
The upcoming federal budget has been dubbed the innovation budget in some Ottawa circles, but the founder of the Centre for International Governance Innovation says it doesn't mean much if the Canadian government won't heed calls to implement an intellectual property strategy.
As far as collaborations can allow for faster strategy execution and significantly contribute to product development and innovation, each party involved in a partnership has their own vision of how to achieve set goals. Often, this difference in views can lead to disagreements and disputes, where strategic deals may break, or worse, lead to legal proceedings.
The market for artificial intelligence (AI) technologies is flourishing. Beyond the hype and the heightened media attention, the numerous startups and the internet giants racing to acquire them, there is a significant increase in investment and adoption by enterprises. A Narrative Science survey found last year that 38% of enterprises are already using AI, growing to 62% by 2018. Forrester Research predicted a greater than 300% increase in investment in artificial intelligence in 2017 compared with 2016. IDC estimated that the AI market will grow from $8 billion in 2016 to more than $47 billion in 2020.
Facial recognition technology is something that most of us take for granted. We've casually noticed that our smartphones now organize photos by people, or that Facebook somehow always knows the right friends to tag. But until recently, most people haven't realized that this technology is less of a "cool trick" and will actually significantly shape the way we do business in the next five to ten years.
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