When it comes to collaborations with external entities, various options are in trend. A popular approach is to employ an ER&D firm to solve a certain challenge. One such challenge was to develop a remotely operated welding machine that could operate in the narrowest of pipelines under the sea. With the help of engineering R&D, the pipeline manufacturer realized an automated welding robot with a reengineered power source, delivering peak efficiency of up to 90% with consistent weld quality5.
The use of cloud-based platforms for R&D has also gained prominence. Such collaborative platforms bring together experts to discuss scientific challenges. One such platform was used successfully by medical researchers from Finland to develop algorithms to accurately predict prostate cancer survival rates6.
Then, there are accelerators like the wearable technology research provider, which enables companies build innovative use cases. Through one such collaboration, a textile firm was able to launch a smart t-shirt that takes electrocardiogram readings, detects heart rate abnormalities, and monitors physical activity information of the person wearing it.
Another approach is to collaborate with suppliers. Such a collaboration helped a UK-based automotive major to develop adjustable fenders for its premium models through its partnership with a US-based aerospace supplier7.
Along with these, some organizations use multiple collaborations to further accelerate innovation. Another automaker used this ‘research hub’ approach to develop an innovative AI-enabled entertainment system, a gyro-screwdriver with single-handed operation, and manufacturing robots that hang from electric pylons8.
As organizations continue to seek the best practices to resolve business pain points, a favorable approach is to seamlessly integrate innovation into the organization processes. In this scenario, an Innovation Lab with a dedicated innovation framework is emerging as a solution that cuts through bureaucratic threads and focuses on business continuity that can combat even unpredictable situations like an outbreak.