A survey of decision makers finds the importance of innovating will "increase significantly" over the next three years.
Apple is an apt example of how innovation has fueled the enterprise and kept consumers interested. As the company introduces new products, Apple isn't just sending blasts of press releases, but creating show-length high-quality presentations viewed not just by the media, but by consumers as well. Innovation and how critical it is to the enterprise is the focus of a new Kaspersky report, "Empowering Innovations."
Kaspersky, with the assistance of independent researcher Savanta, reviewed the new processes, tech and tools of business worldwide and focused on those responsible for innovation-related decisions, whether external, affecting clients and end products, or internal, affecting employees and work processes.
Businesses know the value of ever evolving innovation. Kaspersky found 88% of organizations encourage innovation throughout their company, and from everyone in the workforce, including employees at every level and on every team.
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Respondents were primarily in agreement (74%) that innovation's importance will "increase significantly" over the next three years, and an even higher percentage, 82%, believe that dedicated innovation roles are critical for the enterprise's future success.
But not every innovation is a success and the report cites two key hindrances: Insufficient planning (95% said innovations failed pre-launch) and the lack of involvement of the CISO (chief information security officer) in the process (nearly half surveyed view the CISO as a "protector of innovation").
For many in the enterprise, it has been a double-edged sword, powered by what the report calls "wholesale digitalization." The transformation has certainly prepped for the adoption of new ideas, but there is wide concern that it also has complicated a company's IT infrastructure by revealing new threats.
The most promising, exciting innovative ideas are tempered by the potential of threats to corporate data security. Of the 300 respondents, 30% cited the introduction of IoT devices as making the company vulnerable to the risk of attacks, 26% pointed the finger at AI (artificial intelligence), and 25% laid blame to blockchain technology claiming it amplified threats.
And it's because of cybersecurity concerns that 68% of respondents said their organizations opted out of innovation, while 64% decided not to proceed because of "ethical concerns."
However, the report prominently quotes a UK-based industry leader: "You innovate or you die." And innovation's heroes are the decision makers, 96% say their "board" plays a direct role in innovation, and nearly as many (91%) say that role will grow in the next three years.
Apple, Tesla and Google have proved to be influential—respondents to the report said perception is equally important as the execution of innovation; 21% said "being perceived" as innovators was one of the top three of implementation of those innovations. Wanting the gold-standard of the perception of success spans industries, and a cynical 78% said businesses claim to be innovative without delivering.
Innovation is seen as the future of the enterprise, and it definitely correlates to a company's success, so much so that 58% of respondents said their businesses have "a dedicated innovation team," with 49% saying this has been the case for less than five years, 42% citing five to 10 years, and 9% more than 10 years.
In addition to being critical for future success, innovations are believed to be most successful when devised by a team, rather than individuals; "innovators" are recognized as a "type" of person, but the general consensus is that anyone can be an innovator; 89% agreed innovators should be able to "think outside the box;" 69% said innovators are typically more "naturally gifted;" 67% said innovators are "a new breed" in the workplace, and 51% agreed that you can't teach people to be innovative. You get it or you don't.
Digital transformation spurred innovation, and respondents said that 38% report to the head of IT, and 34% report to the board level, confirming that success is a combination of careful planning by the tech department with the support of those at the board level.
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