this technology and coming up with new ideas, new processes, and use cases—faster than the corporations are because they are catalysts in innovation and play a very important role in moving the ball forward. In the past, innovation was done in a room for ten years, 15 years down the line and then there was innovation that was done for short-term goals—immediate products. These functions must come together. That is the biggest parting thought. It’s not the 2020, 2019, or 2018 timeframe. The short-term and long-term goals must come together. We must rethink how we do innovation.
But the environment has settled a bit. We are seeing companies hiring people again. The reassessment has been done to some extent. We are not in a frenzy anymore. We are moving towards a calmer environment, but still the markets have not changed. We are not in 2021 again or the brief period of 2021 and 2022 because COVID also had its after-effects. Things will get better, but not as fast as we thought they would. Investments are going to go towards AI development. VENDORS AS INNOVATION CATALYSTS Vendors play a very important role in two things. One factor is helping corporates move along when corporates get stuck in innovating and moving forward. The other way is that they are catalysts between big corporations, and they help in collaboration. That is only possible when vendors are one step ahead of the corporates in the game. They must be fast in understanding
Harsh Wardhan Innovation Program Lead, Google
FEI 2024 & Key Innovation Perspectives
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