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FEI: Front End of Innovation

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June 10-12, 2024
Omni Boston Hotel at the SeaportBoston
June 10-12, 2024
Omni Boston Hotel at the Seaport,
Boston

20th Anniversary Interview Series

What Is Innovation?

Seth Adler w/Prapti Jha

Nowadays, the term "innovation" is frequently used. AI, blockchain, and other buzzwords that are said to be driving innovation are frequently mentioned. However, are these truly innovations, or are they merely inventions that we are mistaking for innovations? Prapti Jha, discusses design-led innovation, how it is changing and how companies are adapting.

“My work focuses on how design-led innovation can be applied to the public health sector, public policy, and other areas to improve the well-being of people, the environment, and organizations. And when I think about innovation, I don't just think about new technologies or products. Instead, I see a shift from product-based innovation to service-based innovation,” says Jha. 

This shift means that even companies that have traditionally focused on designing innovative products are now thinking about how they can provide services that enhance the customer experience or create new business models. It's a change that has been enabled by new technologies, but it's not just about the technology itself. It's also about how people collaborate across borders and time zones, and how they create a culture that encourages curiosity and celebrates failure as a learning opportunity.

See Prapti at FEI. Register Now.

When talking about this shift, Jha says, “I'm not just talking about the public health sector or the tech industry. This is a shift that is happening across many industries, and it's transforming the way we think about innovation.” We're moving away from the idea that innovation is something that happens in a physical innovation space, where people gather to brainstorm and come up with new ideas. Instead, we're seeing innovation as something that can happen anywhere, at any time, as long as people are open to new ideas and willing to collaborate.

The rise of digital technologies is one of the primary factors driving this shift. New challenges, as well as new opportunities for innovation, have been brought about by AI, blockchain, and other technologies. For instance, how would we gauge the progress of advancement undertakings, and how ROI will be measured for these projects? These are questions that professionals are wrestling with, and they require better approaches for pondering development.

Another driver of this shift is the growing recognition that innovation is not just about technology or products. It's also about creating new services and experiences that enhance the customer experience and create new business models. For example, ride-sharing services like Uber and Lyft have transformed the way we think about transportation. They're not just about providing a ride from point A to point B; they're also about creating a new service that enhances the customer experience and creates new opportunities for drivers and other stakeholders.

See Prapti at FEI. Register Now.

But perhaps the most important driver of this shift is the recognition that innovation is not just about technology or products or services. It's also about culture. Creating a culture that encourages collaboration, curiosity, and risk-taking is essential for innovation to thrive. This means creating spaces where people can come together to share ideas and learn from each other, celebrating failure as a learning opportunity, and recognizing that innovation is a long-term process that requires persistence and patience.

Innovation is always changing, and it doesn't just involve new products or technologies. Recognizing that innovation is a long-term process that necessitates perseverance and patience, as well as creating a culture that encourages collaboration, curiosity, and risk-taking are at the heart of this. Embracing this shift will be essential for staying competitive and driving growth in the years to come, regardless of whether you work in the public health sector, the technology industry, or any other industry at all.

See Prapti at FEI. Register Now.