Becoming Better by Design: Building an Ecosystem for Innovation
Innovation is an outcome of ingenuity and passion. Just as the iPod and iTunes disrupted the music industry back in 2001, true entrepreneurs are on the lookout for next idea that can break barriers and reconfigure industries. However, the idea of innovation does not always need to create the next Google or Apple—it can also be that subtle achievement that makes a big impact and helps users pay bills faster, or ensure seamless asset maintenance for streamlined operations, or even optimize the amount of fertilizers used in an agricultural plot.
An example was set in the UK by Hampshire County’s approach to road repair and maintenance in 2016. The intense rainfall in the region would result in flooding, and the prevention of excessive water logging became a top priority for the highway works team. The team now uses sensors on roadside gullies to relay information on factors that impact flooding on the road, and this has led to a significant spike in road user experience.
Innovation provides organizations the edge to penetrate markets faster, break industry molds, and create deeper engagements in the markets they serve. It helps to develop original concepts while giving a proactive and positive ecosystem to take risks and accomplish goals.
Leading with Disruption
Companies that nurture an innovative culture grow easily even though the processes may not be simple. An overview of innovative strategies applied in past few years brings forth some pioneering business models and functions across different sectors.
One of these is the concept of mixed reality that had helped enhance the learning experience for students by blending the real and virtual worlds. By integrating digital data with user’s environment in real time, Microsoft’s HoloLens was leveraged to help medical students study the eye structure in 3D models. It enabled students to holistically examine the eyeball, ocular adnexa, and the visual pathway helping learners to observe parts of the eye at the cellular level.
The idea of predictive maintenance in manufacturing and transport industries is also a result of innovative applications. By using predictive data analytics and innovative techniques based on analysis of historical and real-time data help to detect impending faults before they occur; organizations have been able to improve quality, functionality, and longevity of assets, and reduce unplanned downtime and maintenance costs.
Agriculture, a sector that has traditionally remained less influenced by innovation has also started embracing new technologies for growth. Unmanned aerial vehicles (UAVs) or drones have opened up new possibilities in the domain. They are being used to collect aerial imagery to assess and optimize farming practices. These devices are flexible, improve operational ease, and involve lower costs than satellite imagery. UAVs can also be flown well below the clouds to gather high-resolution images and drive greater value.
With the right innovative technologies, organizations can save their time and money while getting a competitive edge in their domains. There are ample examples to prove that development and use of novel strategies bring substantial efficiencies. A way to experience this is to surround yourself with people who have creative ideas different than yours. You can have diverse concepts that can be pooled to achieve a distinct approach from what has conventionally been practiced—and that is what they call motivation. It’s time to get innovative!
In keeping with the spirit of innovation, Cyient has initiated the New Business Accelerator (NBA) Program which places significant focus on developing and nurturing new technologies and business models to accelerate our growth. Write to us to know more and be part of the NBA.
By Konark Bhasin | November 18th, 2017