RESEARCH REPORT Innovation Leader

How AI is Influencing Corporate Innovation Priorities in 2024

Explore the Latest Trends and Gain Key Insights into How AI is Reshaping Corporate Innovation Strategies.

Discover how the growing emphasis on AI in leading companies is reshaping corporate innovation practices.

Throughout 2023, Innovation Leader, in partnership with HYPE Innovation, conducted extensive surveys and developed a 'risk assessment' specifically for corporate innovation teams. This report compiles the most valuable insights from that data, enriched with perspectives from seven interviews conducted in January 2024. These discussions with leading corporate innovators reveal how their approaches to innovation management are evolving, how they are integrating new AI tools, and offer practical advice for others in the innovation management field.

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In our survey of corporate innovation teams, we uncovered several compelling trends:

61% of corporate innovation groups are guided by a high-visibility leader with a broad focus.
40% have a clear mission and established corporate innovation KPIs; however, 45% set high-level goals without detailed metrics.
Only 22% report being 'seamlessly integrated and actively collaborating' on corporate innovation across different parts of the organization.
Importantly, more than 60% of respondents observed an increase in both budget and human resources devoted to AI initiatives within their companies in 2023.
And much more...

What You'll Learn...

Page 5 – Peer Insights: PGIM
Explore unique corporate innovation strategies.
Page 6 – Structure, Senior Leader Support, and Outcomes
How leadership and structure foster corporate innovation.
Page 11 – Peer Insights: DoorDash
Insights into DoorDash's approach to corporate innovative practices.
Page 16 – Peer Insights: DFW International Airport
Case study on corporate innovation at a major transportation hub.
Page 17 – Connections to the Rest of the Organization
Integrating corporate innovation across departments.
Page 23 – Peer Insights: Amazon Lab126
Innovations in AI and technology at Amazon's R&D arm.
Page 24 – Exploring and Funding AI
Detailed analysis of AI investments and their impact on corporate innovation.
Page 31 – Peer Insights: The Doctors Company
Corporate innovation insights from the healthcare sector.
Page 32 – Thought Leadership

Leading ideas shaping the future of corporate innovation.
Page 38 – Innovation Incentives
Incentive structures that drive innovative thinking.
Page 42 – Peer Insights: Avery Dennison
Lessons from Avery Dennison's corporate innovation efforts.
Page 43 – Q4 2023: Looking Ahead to 2024
Predictions and strategies for advancing corporate innovation and AI utilization in 2024.