New technologies as tools supporting innovation management

Abstract

Purpose: The objective of this article is to examine the application of emerging technologies as tools for enhancing innovation management in organizational settings. The article seeks to provide insights into how these technologies contribute to the generation of ideas, collaboration, scalability, and accessibility in the context of innovation management. Furthermore, the authors analyse the current state of open innovation and the mutually beneficial relationship between artificial intelligence and open innovation platforms. The article concludes by discussing strategies for effectively utilizing new technologies, with a particular emphasis on crossfunctional collaboration and making data-driven decisions to achieve successful innovation. Design/methodology/approach: The research utilizes rigorous methodologies, including a review of existing literature and the use of visual representation techniques. Findings: This research investigates the influence of emerging technologies, such as artificial intelligence, big data analytics, and blockchain, on the management of innovation. The results suggest that these technologies facilitate the use of data to inform decision-making, streamline the processes involved in managing ideas, and foster collaboration across different functions within an organization. Analysis of the current state of open innovation in the European Union indicates favourable developments as well as certain obstacles in research and development expenditures. Originality/value: The originality of the paper lies in its comprehensive exploration of the synergies between emerging technologies and innovation management strategies. The study contributes novel insights by examining the state of open innovation in the European Union. The paper's value lies in its applicability to organizations seeking to leverage technology for innovation, offering insights to navigate the evolving landscape of innovation in a digital era. [ABSTRACT FROM AUTHOR]