Successful Navigation Through Digital Transformation Using an Innovation Radar

Abstract

In times of rapid technological development and disruptive digital transformation, it is imperative for companies to keep an eye on a constantly growing and changing environment of potential competitors, partners, suppliers, etc. The radar tool and methodology offers an intuitive and simple foresight mechanism for an entire organization to enable transparency and discourse about industry change at any corporate level. At the same time this approach needs to be well integrated within the company’s innovation and partner management processes to enable end-to-end value from identification and deduction to strategic actions. Using artificial intelligence (AI) as an exemplary trend category to dive deeper into the details of a trend radar, we outline major success factors as well as benefits for companies adopting this approach.