Explore these pioneering innovation insights
Deloitte’s collaboration with Fast Company on its first Survey of Innovation Excellence reveals a dynamic shift in the innovation landscape. Discover how industry leaders are embracing the convergence of technology and business to reshape organizational paradigms to fit a future where innovation is not an option, but a necessity. The survey results offer a deep dive into strategies that transcend convention to set the pace in this new era of innovation.
Key survey findings to consider on your transformation journey
- Even amid economic uncertainty, innovation investment is thriving with forward-thinking leaders despite continued challenges with talent demand and resource management. By elevating the role of innovation at every organizational level, including awareness and accountability with executive management, organizations can unlock the ability to capitalize on market opportunity.
- Innovation often flourishes in broad ecosystems fueled by open collaboration, yet navigating traditional organizational silos and underlying intellectual property (IP) considerations remain complex challenges. Building external relationships to respect ownership while leveraging the potential of collective ideation could become essential to drive differentiation in the marketplace.
- Industry convergence can amplify the impact of emerging technology adoption, as the intersectionality of different sectors brings about a fusion of ideas and applications. This synergy not only accelerates technological advances but also opens up a spectrum of innovative possibilities, helping organizations to capitalize on uncharted business territories.
- Although many organizations rely on financial measures to gauge the success of innovation efforts, striking a balance between monetary and non-monetary measures could be crucial to connect prospective economic impact with other benefits, like customer engagement. This dual-measurement approach reveals a more comprehensive view of innovation on organizational growth and market position guiding more informed strategic decisions among those surveyed.
In this new era of convergence, standing still is a fast way to move backward. By actively nurturing ecosystems fueled by the cross-pollination of different ideas and experiences amongst a vast external network, including a variety of public and private industry relationships, leaders can foster continuous evolution through open innovation that’s essential to gaining sustained, competitive advantage.
– Deborah Golden, Deloitte US Chief Innovation Officer
In today’s rapidly evolving marketplace, innovation transcends ideas or isolated initiatives — it requires a fundamental shift in organizational paradigms. This journey of transformation requires a deep and unwavering commitment. Together with our clients, we are reimagining the boundaries of what’s possible. By embedding innovation within organizational culture, we are fostering creativity and empowering teams to experiment with new ideas and approaches.
– Jason Girzadas, Deloitte US Chief Executive Officer
In the pursuit of rapid success, it’s important to recognize that excessive structure can hinder the very innovation and speed organizations strive to achieve. Allowing for an environment that supports ideation, rapid development and failure, can be just as important as managing innovation spend as a portfolio to allow teams agency to be their best.
– Ranjit Bawa, Deloitte US Chief Strategy and Technology Officer
Innovation unbound at SXSW and beyond!
Space has long represented an infinite canvas of boundless promise for all humanity—to explore, to advance, and to aspire. Deloitte, in collaboration with Matthew Niederhauser and Marc Da Costa, the artists behind Light in the Head, unveiled at SXSW 2024 an unprecedented immersive experience, Beyond the Horizon—where imagination is only the beginning, beyond which lies the infinite expanse of human potential.
Our capability utilizes cutting—edge Generative AI and Extended Reality technologies, leveraging the advancements in space exploration poised to revolutionize commercial industries—from sustainability to supply chains. We are at the forefront of navigating complex challenges with unparalleled innovation. By crafting compelling narratives, Beyond the Horizon not only illuminates the possibilities and benefits of applied innovation with real-world applications, but also inspires action and adoption, making them accessible to diverse audiences and driving transformation.
Deloitte is innovating with purpose—for progress.
Stay tuned for upcoming showcases of our next applied innovative use cases. There is more on the horizon, where the future of technology becomes today's reality.
For media inquiries, please contact Faith Shea at fashea@deloitte.com.