14. AI and Open Data - SAIROP case Flashcards
Are digital innovation projects mostly within R&D or NPD?
Since NPD is mostly about incremental improvements in existing tech/products, whereas R&D means that you start from scratch or combine new things, digital innovations are mostly in R&D.
According to the master thesis, what criteria are important for digital innovation projects to succeed?
The two most important things are market and company. It is less important with tech and environment. For example if you enter a diminishing market, it does not matter fit he tech is great.
And when it comes to soft factors within the company, what is most important for dig inno to succeed? (3)
- Good teamwork
- Good employees
- Project partner
So it’s mostly about social factors.
Are reasons for failure vs success most clear?
Reasons for success are more clear than why dig inno projects fail.
Early signs of failure differ across company sizes, which are the signs in startup, SME and LE?
Startup: market validation and PoC (proof of concept) - important to test the market and get a hint from the market what they think, ex by participating in contests.
SME: Often soft factors like motivation and enthusiasm. The project team might be lacking this or they work too much.
LE: often team and company spirit. Employee and teams-related things. Communication is core.
Which type of firm focus on which type of goals?
LEs focus more on direct monetary goals (returns) or none (no goals) at all. Startups and SMEs often use innovation projects to save costs indirectly (not the goal per se).
Monetary goals are very time dependent. The important thing is to NOT have moving targets and there must be clearly defined gaols and requirements and understanding of needs.
3 challenges with digital innovation projects?
- Marketing and education: must spread the idea early and use good marketing.
- Finding good people: really hard to find the right group of people.
- Easy copyability: develop something that cannot be replicated easy by competitors is really hard.
Is there a sector/industry where digital innovation projects succeed more often than in others?
No, there is no such tendency.
What is the advantages of finding an ideal partner? (4)
- Chance for success is much higher
- Work is easier and faster
- Less bureaucracy/admin
- Other/future businesses could be created
Wha is the difference between industry partners and research partnerships?
Industry partnerships:
- existing long-term
- expertise difference
- size difference
- concern with tech giants
Research:
- applied vs basic (university)
- education background of existing project staff, complement it.
5 reasons why digital innovation projects are one of the most difficult ones:
- Fast changing markets and difficult to manage the projects
- Convergence and generatively is curse and blessing
- Tech giant have necessary knowhow and resources to do everything
- Hard to defend (IP rights are hard to receive and costly)
- Education and tech understanding is hard