Success Stories

How AI and Algorithms revolutionize
Innovation Management

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Can you imagine artificial intelligence developing your next product autonomously? Do you want AI to take over creative processes in the innovation process? Do you have relevant data and the know-how to use it? Is AI-supported innovation for you everyday symphony or music of the future? You can find out how 163 managers answer these and other questions and what implications they have in our recently published AI study.

Artificial Intelligence as a Revolution of Innovation

In a time of increasing digitalization, artificial intelligence and robots become relevant for innovation; there are already many individual tasks that can be improved, accelerated or even partially autonomous by robots through the use of AI. So the theory.

The biggest hurdles are still a lack of understanding and knowledge. AI is still amazing for many people; a black box in which you don’t know exactly what is happening.

Participant of our AI study

But the gap between imagination and actual use is enormous: only a few people actually use artificial intelligence to innovate. The current high costs and the still often lacking resources and capabilities within a company are brake blocks. However, experiments in the AI innovation context can easily be tested. Our AI study shows that managers and experts expect to see a huge boost in autonomous innovation over the next 10-15 years and that the topic will have to find its place on every map of innovation managers, AI experts and management as fertile new territory.

The study shows that AI offers the possibility of simplifying certain innovation tasks along the innovation process, making them more efficient and enriching them with additional information. New algorithms and ever-increasing amounts of data allow better analysis, more accurate forecasting and decision-making with less risk. AI has the potential to significantly improve innovation management and strengthen or even replace human innovation teams with machines and robots.

The results of the study in six theses:

  1. AI is becoming more and more present in the field of innovation and reveals great potential, but still meets a low level of knowledge and experience.
  2. The practical use of AI for analytical innovation tasks is obvious for everyone, the potential for more creative tasks is reserved for AI-experienced companies
  3. The benefit of AI is primarily seen in the increase of efficiency and less in the development of new business fields or the creation of new innovations, especially by companies that are still inexperienced with AI
  4. In the near future, AI will only support people, but not make decisions. Autonomous AI remains a future scenario for the time being
  5. The organisational framework conditions are viewed positively by the majority and encourage the use of AI. However, the resources made available are scarce
  6. There are different views on how to implement AI for innovation and little agreement, orientation or guidance on how to do it

The results of our study show that AI not only has the potential to produce radically new innovations, but also to rethink innovation management. AI heralds a new era of innovation. In the future, new innovation formats will be supported through AI and machine learning, making them more efficient and better. Whether you experience this era as a creator or a participant is a matter of choice. The fact that you experience it becomes a decisive competitive factor.