In our monthly innovation updates, we provide you with an overview of the most relevant insights, best practices & tools from the innovation cosmos.
For the first time, Gartner has published a Hype Cycle specifically around innovation management techniques. According to Gartner: "Innovation management techniques are always evolving and maturing year over year. Executive leaders should study this Hype Cycle to understand the trends in techniques and approaches that can help maximize the value and impact of their innovation programs across the organization."
Widely recognized as the leading authority on technology maturity, this Gartner Hype Cycle provides executives with a graphical representation of the maturity, adoption, and societal application of technologies and techniques. This methodology is most commonly used to project the evolution of a technology or application and guide its use in the context of specific business objectives.
This Gartner Hype Cycle covers the techniques around:
The ITONICS end-to-end innovation management platform addresses most of the techniques evaluated in the Hype Cycle and is seen as a relevant vendor by Gartner’s analysts.
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Download the Gartner Hype Cycle for Innovation Management Techniques, 2021, today and gain more insights into these exciting areas or find promising innovation techniques for your business.
Communication is an essential factor on the way to achieving your innovation goals. Insufficient communication has the potential to sabotage your ability to innovate. A recent article in IM Weekly highlights four communication landmines you should avoid.
When communication is not structured properly, it can cause dysfunction, disengagement, and a lack of ownership and creativity within a team or organization. You should be aware of the following landmines to avoid communication sabotage:
The Purpose Landmine
The Inclusivity Landmine
The Expectation Landmine
The Leadership Landmine
In order to drive innovation projects successfully, you need to consider (and avoid) all of the four landmines mentioned above and ensure effective communication.
Also see this article: How To Communicate Strategic Innovation Activities
This technology incorporates a multi-target drug design approach by combining the knowledge of complex disease networks and the chemical and physical characteristics of existing drugs and biological receptors. Computational methods are used to create interactions between molecules and targets to predict binding affinities. The accessibility of supercomputers, parallel processing, and advanced software has propelled the technology forward. Leading pharmaceutical companies and research groups are employing it to utilize more extensive information in modeling innovative drug candidates against various diseases.
CADD can speed up the discovery and preclinical stages by a factor of 15. And given the current fail rate of 9 in 10 drugs after clinical trials, it can also increase the accuracy of predictions on the efficacy and safety of drugs, resulting in massive savings. Still, the future of CADD is even more promising as scientists apply other technologies to enhance and automate existing CADD methods.
Medical research charity LifeArc is developing a full suite of VR-driven drug discovery tools to transform the way diseases are identified and treated. With its immersive and collaborative tools, the UK-based organization aims to give researchers a way to explore the inside of a protein, its shape, and its features. This extended reality experience will enable a better understanding of complex disease mechanisms for accelerating drug discovery.
Additionally, quantum computing (QC) could overcome several of the current scaling challenges to CADD. QC enables researchers to screen massive computational libraries of compound and target interactions in parallel, thereby increasing the chances and speed of identifying the best drug candidates.
Forecast to surpass $7.9 billion by 2028 (at a CAGR of 15%), the global market for CADD services holds great promise for the future of the healthcare & pharmaceutical industry.
To discover more game-changing technologies and inspirations for your industry, explore the full ITONICS Technology Radar or check out our industry-specific tech reports (more to come!).
Last month, Wunderman Thompson Intelligence published their annual forecast of 100 trends to watch in the coming year. "The Future 100: Trends and Change to Watch in 2022" report offers a snapshot of the most compelling trends across 10 sectors to keep on the radar. These are some highlights from the report:
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