FEATURE : INNOVATION
Technology is not innovation . So what is innovation ?
• Just chasing trends in the technology space will not guarantee business success .
• While jumping on the latest technology is a hobby for some , fixation on the new and novel can be counterproductive and lead to a cycle of short-lived fads .
• True innovation is not about adopting technology for its own sake ; it is about leveraging it strategically to create meaningful change .
• What is interesting , given our modern fascination with technology , is that none of the ten types of innovation are technologies .
• The key here is to view technology through a capability lens : what capabilities does the technology bring to the fore ?
• Adopting a tool to keep up with your competitors or simply because you see everyone else doing it , will not necessarily add value to your users .
• The real value lies in solving a problem for them in a way that makes a positive difference .
• It might be shiny , it might be sparkly , it might be interesting . But it is not a catalyst for innovation in your business today .
• If you are purpose-led , your purpose should also drive your innovation and help you figure out what problems to tackle next .
• True innovation is not about the technology by itself , but rather how it can be leveraged to create meaningful change .
• Businesses should focus on identifying their innovation ambition and exploring how technology can help them achieve that goal .
important to consider what customer problems you are trying to solve by implementing one of these .
Adopting a tool to keep up with your competitors or simply because you see everyone else doing it will not necessarily add value to your users ; the real value lies in solving a problem for them in a way that makes a positive difference .
So , if a small business is interacting with their customers in their email application , or conducting business in WhatsApp , or sending a text message for example , they can use any of those outside applications to complete tasks such as generating an invoice or editing a quote . In this instance , the technology is a true catalyst for us in combining Process , Channel and Customer Engagement innovation .
If we look to the future , what capabilities could be unlocked by advances in other emerging technologies , like robotics or quantum computing ? What problems are we staring into that affect businesses day-to-day around forecasting , simulation , and prediction , for example , that capabilities unlocked by more widely available quantum computing could in theory help solve ?
James Bergin , EGM Technology Research and Advocacy , Xero
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