INNOVATE WITH PURPOSE
For Gail Martino, the key to innovation lies in balancing cost and execution to outpace market competition.
Gail Martino, Former NA Lead, Strategy, Agile Transformation, Unilever
In 2024, I see large corporate’s emphasis is on growth, competitiveness, and operational efficiency as they navigate the complexities of today’s market landscape. This strategy hinges on prioritizing innovation “Big Bets” and bolstering these initiatives with solid competitive positioning. At the same time, they are committed to maintaining operational efficiency and stringent cost controls. This dual focus ensures that innovations are launched at the most opportune times, are cost- efficient, and are primed to meet market demands. To navigate this terrain successfully, I see companies adopting a multifaceted strategy that includes leveraging state-of-the-art technology, cultivating a culture of continuous improvement, and implementing agile methodologies. This approach positions them to react quickly to market shifts, seize new opportunities as they arise, and sustain competitive advantage.
The goal extends beyond achieving immediate gains. They are laying the groundwork for long-term, sustainable growth. IMPROVING INNOVATION WITH AI In 2024, artificial intelligence (AI) will extend far beyond the realm of IT, becoming a foundational element of strategic leadership across all business sectors. As we venture into this uncharted territory, it’s crucial for leaders to recognize AI’s transformative potential and integrate it into their strategic planning to remain competitive. This involves not only understanding the unique opportunities AI presents but also navigating the varied risk landscapes inherent in its application. AI’s impact on innovation cannot be overstated. It offers capabilities for enhancing efficiency, driving growth, and fostering novel solutions. However, this comes with the need for a nuanced approach to managing risks, particularly in areas concerning confidentiality and intellectual property.
The journey towards AI integration demands a proactive stance on strategy formulation and risk
FEI 2024 & Key Innovation Perspectives
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