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How Is AI Affecting Innovation Management?

Christian Terwiesch, Valery Yakubovich and Eric Bradlow

Knowledge@Wharton, 2023

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In this episode of the Knowledge at Wharton podcast, host Eric Bradlow interviews innovation management experts Christian Terwiesch and Valery Yakubovich. Their discussion offers valuable insights into AI’s present strengths and weaknesses in the realm of innovation management and how it is reshaping business strategy and people’s career paths. Learn how businesses are using AI to address customer pain points and streamline their operations, and uncover the challenges and opportunities the rapidly evolving technological landscape presents for companies and individual workers.

Summary

Recent AI developments are changing how industries are pursuing innovation across three primary dimensions.

First, AI now aids in the initial stages of innovation, such as idea generation and venture launching, by making processes like market research and prototyping more efficient and less expensive. Second, in larger organizations, AI plays a crucial role in managing and fueling the idea pipeline, enhancing the continuous flow of innovation. Third, AI assists managers in strategic planning by helping to envision future scenarios and potential disruptions to the status quo that people might not consider otherwise.

AI has transformed the idea-generation process but is still weak when evaluating opportunities.

AI excels at generating a wide variety of ideas, including “polarizing” innovations – a feat most people would not have believed possible just a couple of years ago...

About the Speakers

Host Eric Bradlow is the Vice Dean of Analytics at Wharton, guest Christian Terwiesch is the Andrew M. Heller Professor at the Wharton School, and Valery Yakubovich is the executive director of the Mack Institute for Innovation Management.

How Is AI Affecting Innovation Management?

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Summary

Recent AI developments are changing how industries are pursuing innovation across three primary dimensions.

AI has transformed the idea-generation process but is still weak when evaluating opportunities.

About the Speakers

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