AI-Driven Innovation: Leveraging Big Data Analytics for Innovation

Aniekan Essien*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapter in a book

2 Citations (Scopus)

Abstract

Technological advancement and data ubiquity have resulted in the rapid and continuous development of data computing and processing tools, hardware, and software, which have impacted all facets of human endeavor. Artificial Intelligence (AI) is increasingly being applied in non-routine tasks that were earlier performed by humans alone. Despite the wave of AI in automation felt in other industries, the innovation sector is yet to feel a widespread adoption of AI in the innovation process. This chapter builds on existing literature to conceptualize the application of innovation analytics - referring to the application of AI-enabled, data-driven insights, algorithms, and visualizations within the innovation process. It is argued that AI has the potential to play a vital role in fostering innovation by driving key aspects within the innovation process. Using a hypothetical example of a tech start-up, we show an example of how infusing AI/big data analytics can serve as key enablers/triggers in the overall innovation process. Further, the chapter explicates the benefits and limitations of using AI in innovation and concludes by providing some implications of applying this technique in the innovation process.

Original languageEnglish
Title of host publicationInnovation Analytics
Subtitle of host publicationTools for Competitive Advantage
PublisherWorld Scientific Publishing Co.
Pages119-137
Number of pages19
ISBN (Electronic)9781786349989
ISBN (Print)9781800610002
DOIs
Publication statusPublished - 1 Jan 2023

Bibliographical note

Publisher Copyright:
© 2023 by The Editors.

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