The Chief Innovation Officer’s Roundtable was held at Fujitsu Headquarters in conjunction with the launch of their Open Innovation Gateway, which coincidentally, overlaps with Fujitsu’s monumental 80th anniversary. In the spirit of Open Innovation, Fujitsu’s Open Innovation Gateway is “a platform to connect and grow ideas based on the collaboration of internal and external partners” (PR Newswire). The reception gained momentum when Professor Henry Chesbrough, father of Open Innovation, delivered an inspiring speech about Open Innovation. Steve Blank, a Silicon Valley serial-entrepreneur, spoke about the value of the Open Innovation Gateway. Over 70 Silicon Valley executives, including the Japanese ambassador attended the ceremony. The remarkable launch of Fujitsu’s Open Innovation Gateway preceded the Chief Innovation Officer’s Roundtable with Chief Guest Speaker Manjula Talreja, Vice President of Consulting Services at Cisco.
Digital Disruption: Innovation as a Service
“Are you ready to redefine Service Innovation?” Manjula Talreja asked roundtable guests (view attendee list here), jumpstarting the Chief Innovation Officer’s Roundtable event hosted at Fujitsu’s headquarters on June 23. An expert in cloud business and market models, Manjula plays a pivotal role in capturing value in today’s cloud market through Service Innovation.
As in Open Innovation, Service Innovation requires a system where all ideas, failures and successes, are both acknowledged and rewarded so that innovative ideas are not lost and creativity is nurtured. Mark Hatch, Chief Executive Officer and Co-Founder at TechShop observed that legal and current rules in the west give more innovative leverage to emerging economies: “If you want to drive innovation, then go manufacture something in China or South Africa. It’s cheaper and faster and you bring back the stuff that works.” Roundtable host, Professor Solomon Darwin, agreed, remarking that biotech industries in India, which have less governmental red tape than developed countries, produce cheaper medicine, faster, than highly regulated countries such as the US and Germany.
“In the era of digital disruption, consumers are expecting fast pace changes with everything as a service. Companies need to increase Innovation focus on services versus exclusively on products” – Manjula Talreja, Vice President Cisco Consulting Service
The convergence of digital disruptions creates a valuable network connecting people, process, data, and things; this network is known to Cisco as the Internet of Everything (IoE). With technology usage and innovation exponentially increasing over time, IoE has the opportunity to capture the $19 trillion value at stake. IoE connects people by leveraging data into more useful information for intelligent decision making — all through the simple access of physical devices connected to the Internet and each other (Cisco). To stay alive, companies must rapidly accelerate and capture the power of Service Innovation, potentially growing global corporate profits by an estimated 21% by 2022 (Cisco).
Innovation Happens During a Disaster Zone
Desiree Matel-Anderson, Chief Executive Officer at Global Disaster Innovation Group and former Chief Innovation Officer at Federal Emergency Management Agency (FEMA), describes the power of disaster in surging innovation: “Service Innovation is becoming more synced up where we are taking different technology and packaging it into one step so we can do it much faster.” Last year, during a large mudslide in Washington State, her team at the FEMA flew drones, created a 3D scan from the data, and printed 3D topography maps from the scans, which were used by FEMA’s Search & Rescue Team. Gathering this open information and combining different technologies together, an innovative team from Los Angeles simplified the process by creating a drone that prints 3D maps while it flies. Not only does Service Innovation save costs, it saves lives.
Today, Open Innovation is growing exponentially in expanding markets due to lack of regulation. Thus, speed to market and expansion through innovation are more important than ever for companies to survive in both developed and developing economies. As Manjula puts it, Service Innovation is simplification, personalization, and culture – make the process simple, market to individuals, break out of silos, and you too can tap into the $19 trillion value opportunity.
Watch Professor Henry Chesbrough talk about Open Innovation at Fujitsu’s Open Innovation Gateway: http://openinnovationgateway.com/
By: Cindy Ma