Enabling rapid innovation in digital transformation

The majority of modern enterprises are well underway in transforming their business to make it more digital native. We talked about this extensively in the first two chapters of this book. Customers continuously demand new features, and they want these features to be delivered almost instantly. To control this process, enterprises need to develop an innovation strategy catering for rapid innovation. An innovation strategy can be depicted as a pyramid, where AI-driven innovation is at the very peak of this pyramid.

This can be seen in the following diagram:

Figure 9.2 – Pyramid of AI-enabled innovation

Enterprises do not get to the top of the pyramid in one go; they usually start at the bottom, where innovation is driven by cost savings. From there, they need to develop the next steps, resulting in rapid innovation using AI and ML.

The first steps typically involve ways to find a budget, which...