Is Collaboration the New Innovation?23 November, 2016 / Articles
We’re at the dawn of a golden age of business innovation. There has been a revolution in how companies create value—from business processes, marketing, and governance—and, especially, their approach to innovation.
This has been sparked by technological advances such as the maturing of the cloud, smart mobile devices, big data analytics, and social networking, which have converged to form digital platforms—and a new digital deal economy—for rapid business innovation.
A first wave of disruptive tech-enabled businesses has emerged in the consumer space. Companies like Uber and Airbnb created “the sharing economy,” disrupting and transforming their industries almost overnight. As principles of the sharing economy extend to the enterprise, the emergence of the Internet of Things (IoT) is profoundly altering the corporate landscape.
And this connection of industrial assets with digital networks is happening fast: Gartner predicts that in 2016, 5.5 million new things will be connected every day. By 2020, more than half of all business processes and systems will incorporate some element of IoT.