Deloitte Measures Innovation Excellence

Deloitte's collaboration with Fast Company on its "Survey of Innovation Excellence," polling more than 200 named to the media brand's list of the world's most innovative companies, shows that half (54%) will increase their investments in innovation in 2024. As economic shadows lengthen and marketplace landscapes rapidly change, this insight is one of many throughout the survey that reveals an unwavering commitment to advance innovation.

Building agility to power experimentation

The companies committed to investing in innovation this year plan to make substantial outlays, the survey found, generally ranging from 3% to 15% of revenue. Those prioritizing innovation are using different strategies to foster a culture of dynamic ideation and effective experimentation.

Some of the more significant approaches include:

In-house R&D (75%)

Expanding AI capabilities (44%)

Conducting hackathons and pitch contests (48%)

Recruiting new talent (57%)

Read more here … https://www.outlookseries.com/A0768/Infrastructure/3505_Deloitte_Measures_Innovation_Excellence.htm

Donna Goodwin - Quantexa weighs in with her thoughts.