Innovation is a core component of virtually all business growth strategies, and digital business transformation is on the agenda of most of companies. At the same time, technology innovation is progressing at a relentless pace, manifested in technologies such as cloud computing, big data analytics, the Internet of Things, mobile apps, and social media. IT’s ability to translate this technology innovation into business innovation opportunities is rapidly becoming a core attribute of world-class IT performance. This is a complex, multifaceted issue involving business partnering capability maturity, technology innovation competency, innovation process integration, and the maturity and business savvy of technology talent, along with enterprise innovation culture.
Exponential improvement in core digital technologies is fuelling exponential innovation. The cost-performance of three core digital technology building blocks—computing power, storage, and bandwidth—has been improving at an exponential rate for many years. As the rate of improvement accelerates, we are experiencing rapid advances in the innovations built on top of these core “exponential” technologies. The current pace of technological advance is unprecedented in history and shows no signs of stabilizing as other historical technological innovations, such as electricity, eventually did.
Business Innovation Tour