Today's innovation challenges and trends with Chris Townsend

In this week’s episode, we tackle the complexities of innovation in a rapidly shifting global landscape. Understanding how today's economic indicators are impacted by innovation and state competition is no small feat, and we delve into these intricate dynamics. Along with insights into the latest innovation trends, challenges, and strategies, we unveil findings from the annual Innovation Agenda, a comprehensive examination of corporate innovation practices around the globe.

Chris is the Chief Marketing Officer at Wellspring, the leading provider of R&D and innovation software and services for corporate, academic, and government clients. Chris has worked for nearly twenty years in the innovation management space, first as a thought leader at Forrester Research and then as a senior executive at solution providers in both North America and Europe. Chris holds an undergraduate degree in biology from Harvard University. More recently, he has cultivated an interest in dad jokes.

"The definition of innovation has evolved—it's about the evolution of a company's value creation engine driven by science and technological advancements."

- Chris Townsend

Today on Innovation Talks:

• The annual Innovation Agenda is a key resource for understanding corporate innovation trends.
• While some companies establish chief innovation officers and special units, these roles often lack permanence.
• Global integration and cultural adoption of innovation metrics are rising to the CEO level.
• Long-term, transformative innovation is garnering significant strategic investment focus.
• Economic uncertainty is causing a cautious approach toward significant new innovation investments.
• AI is a prominent topic of interest, yet corporate strategies in this area remain underdeveloped.
• There is an increasing need for companies to define and assess disruptions accurately for effective strategizing.
• The maturation of innovation as a business discipline is evidenced by companies centralizing and coordinating innovation efforts more thoughtfully.

 Connect with Chris Townsend:

• LinkedIn
• townsend@wellspring.com

 Resources Mentioned:

• The Innovation Agenda: An annual study offering insights into corporate innovation trends and strategies.
• 2021 and 2022 Survey Themes: Focused on COVID recovery, economic uncertainty, and the role of AI in innovation.

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