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10 trends shaping innovation in the digital age

8 months 1 week ago

Many of the most successful innovations of the recent years were developed by a new generation of data-driven tech firms which, competing for the markets of the future, manage to beat even the 20th century powerhouses. The European Political Strategy Centre focuses in its new book, 10 trends shaping innovation in the digital age, on how the digital age has influenced the content of the innovation toolbox.

One of the defining characteristics of the digital age is the tremendous speed with which innovation is advancing.

In the post-war industrial age, innovation typically took place in incremental steps: Dedicated research teams, typically in long-established companies, would develop new products and services in a comparatively leisurely fashion - at least if one considers today's frenetic pace of innovation. The innovation itself

often consisted of an improvement or enhancement to an existing product or service.

Today, while incremental innovation is still valid, disruptive innovation - a phenomenon first described in the 1990s - has become the new norm of success. New players are entering existing markets more easily and gaining rapid dominance, challenging incumbents thanks to genuinely different innovative products or services.

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