With this paper, we suggest CI as being a sustainable innovation technique, with its autonomous ecosystem, during the turbulent digital age. CI can assist corporations carry out productive strategies for benefit development with agility even from the unprecedented time of the current pandemic.The notion and apply of innovation have developed through background, going through unique phases or stages. Just about every successive innovation phase relies about the amassed understanding and Mastering of earlier phases, Therefore accelerating the speed and also the scope of innovation in The brand new phase. By way of example, although it took 15 years once the Spanish Flu pandemic (1918–1920) to find the virus (in 1933), it took only number of weeks to find the COVID-19 virus.
The important thing phases of innovation evolution are: (one) Closed innovation (internal R&D centered, strictly secured because the source of competitive advantage), (2) Collaborative innovation (collaboration with associate corporations to build entire world-course world wide worth chains in the form of strategic alliances, joint ventures, technological innovation licensing agreements, and market partnerships), (3) Open innovation (seeking new resources of innovation Thoughts by leveraging collective intelligence and open resources), (four) Co-innovation (partnership of businesses, which share same standard targets, engages in co-development of worth with Each and every bringing its globe-class core capabilities to the value chain), and (five) Convergence innovation (bundling or fusing seemingly unrelated objects, Thoughts, or experiences, from all kinds of external sources like corporations and people from distinctive industries and countries that share aspirational aims of stakeholders (Freeman, 2004) and for the greater very good (Baldwin, 2016, Hunt, 2017, Lee and Lim, 2018, Lee and Olson, 2010). CI incorporates a quantum electricity which originates from the ability to integrate the strengths of different innovation factors: incrementally (horizontally) and greatly (vertically), as revealed in Fig. one.
While in the hypercompetitive world business surroundings, a corporation’s sustainability depends upon its agility, adaptability, and resilience (Teece, 2014, Von Briel et al., 2019). The first purpose of CI would be to assist this kind of organizational competitiveness. Fig. two displays The main element aspects of CI as well as the self-handling innovation ecosystem, which happens to be structured similar to a spider Website with several layers, the place Each and every layer performs certain functions (similar to an instrument portion in an orchestra) and all levels connect, coordinate, and operate collectively in harmony to produce a strong, quantum innovation outcome. The ecosystem framework is composed as follows:
Layer 1 will be the direct Speak to issue with the industry forces, Epilocal. like consumers, competitors, sector disorders (e.g., financial, cultural, political, and environmental problems), and technological developments. This layer is composed of a web of AI-enabled smart sensors that could pulse the ailments and actions within the marketplace. The collected information by sensors are transmitted in true-time for large details analytics. The suitable facts extracted by the information analytics technique is forwarded towards the autonomous decision-generating program, that’s supported by equipment Understanding, IoT, and various digital systems, invokes instantaneous implementation of demanded actions. The upper-buy collaboration or decision-producing troubles are forwarded to Layer two and above.