This was very interesting! Thanks for sharing! It was nice to read a deep dive into a part of IDEO’s business strategy after reading a case about the company which was more high level. IDEA hinges on being a creative workplace with rapid innovation and I like that they are looking outside the walls of their own offices for inspiration to bring new ideas to life. Outside of the community manager role, I am very interested if this program is managed by one team at the company or if the submissions permeate through to all teams which then get filtered out. Similar to PLM, I am also curious to know how much of the ~16K ideas actually made it to the next stage of the product development process.
Great article! I loved reading about how OI is changing the future of the food/bev industry. Your suggestions on how Mondelez should leverage OI moving forward were very insightful and creative. I would be curious to see if open innovation could actually stifle innovation of new snacks and flavors. For example, Trader Joe’s has a number of odd and quirky flavor combinations that have become a cult favorite but were developed by food scientists. If companies rely more on OI and less on experts, is there a risk that there will be *less* innovation in flavor?
Thanks for sharing this! I did not know that GE was using additive manufacturing in their product set. I was especially intrigued how much has actually moved to additive manufacturing, as well as the cost and weight savings. I would be curious to understand your thoughts on how this changes the barriers of entry to the marketplace. It seems that additive manufacturing could actually lower capital investments to get into the space and perhaps encourage more competition.
Great post! I really enjoyed reading about additive manufacturing in the auto industry. I love the angle of how this technology isn’t just advancing the business for the consumer but it’s also bettering the lived of the people working in manufacturing facilities.
I understand from your article that growth in this area is limited to the current capabilities of 3D printers. Do you think that technology will evolve faster in the future? If it does, will we reach a point where more auto manufacturers can build custom cars, offsetting the costs by pricing at a premium?
Thank you so much for sharing this. I had not heard of EDITED before this post and am really inspired by their product! I believe edited can revolutionize the retail industry similar to how social media management programs revolutionized how brands interact with consumers, what data they can collect, etc.
You bring up a very interesting point about whether these algorithms should be replacing humans. I am a strong believe in automation however I don’t think that EDITED will eliminate an entire data analytics department. I believe that there will be less people needed to run SQL queries, pull data, analyze it, and send off to co-workers. This product will allow less people to be in that position and will open up more roles to help action the data and insights that are being brought forward. In short, I believe this will shift labor resources, not completely replace them!
Interesting post! I am shocked that Netflix saved over $1B just through personalized content to lower churn rates. As a customer who has used Netflix, Prime Video, and Hulu, I can easily say that Netflix does the best job at surfacing titles that I want to watch. I am curious how Hulu would be affected by these algorithms. My hypothesis is that Hulu’s canceled subscriptions are driven by commercials on a paid product (and un-willingness to pay on the premium subscription with no commercials). The second thing I’m curious about is how much of that savings is actually attributed to the model vs. having better original content or more selection on their platform.