Every company worth the ground it’s occupying yearns to be an innovative place. Many have extensive, well-planned initiatives, and stage motivational confabs and training sessions to achieve just that. Yet, new data shows no one has really upped their innovation game in recent years.
In assessing AI’s long-term potential in super-charging innovation, hope springs eternal for the BCG team, which urges companies to reshape “their innovation systems with gen AI.” The potential benefits of generative AI, which can pull together data and content and deliver logical concepts in a matter of seconds, will be too compelling to ignore.
At the same time, no one should depend on generative AI alone to deliver innovation miracles. “Reshaping your innovation function with gen AI is only a first step, and one that, given technological progress, never really ends,” the report’s co-authors caution. Plus, every industry has its different needs and nuances.
The top innovators identified by BCG are 1.5 times more likely to have implemented generative AI in one or more applications, and five times more likely to be applying the technology at scale.