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17 April 2024

How label companies can start incorporating AI for innovation

The development of AI is progressing at an incredible pace. The AI ecosystem has grown almost explosively in the last 12 months. Generative AI is leading to a paradigm shift in the way we will work in the future. This is not just about how we search for and generate information or create new content in the form of text, images, videos and music. There is a great opportunity for a significant increase in creativity, quality and efficiency in the most areas of our working world! 

Dieter Tschemernjak: “Based on our experience in numerous projects and our own development work, I am convinced that the use of AI is ushering in a new era of innovation and strategy work. The question is not whether creative AI will replace human workers, but how people will adapt in their work and collaborate with AI to create value and innovation.” 

For example, in INNO-VERSE - an AI-based platform for innovation and strategy work - it is possible for label companies to achieve a partnership between humans and AI. The AI-based CoCreator develops visionary concepts and innovative ideas together with employees in areas as e.g. product innovation, sustainability, circular economy, or business model innovation. Research tasks and the creation of specific reports are also supported by this Cocreator. Thanks to the platform architecture, knowledge can be shared within the company and employees can continue working on new solutions internally or with customers and partners. All of this leads to higher creativity, increases quality & speed and boosts efficiency. 

Of course, there are still many challenges to be solved in the field of AI. This includes e.g. topics such as data security and data protection, regulatory issues as well as increasing the quality of AI systems. But as the well-known economist Clayton Christensen, ex-professor at Harvard University and author of "The Innovators Dilemma", wonderfully illustrated with many examples. A disruptive, breakthrough innovation is one that typically starts with lower quality and in a market that is overlooked by incumbents. It is then gradually improved, and the established products or services are displaced. AI is also a disruptive innovation that behaves according to this pattern.

Want to know more? Make sure to register today and attend the #FINAT24 event to hear from Dieter Tschemernjak, Strategy- and innovation expert, Partner in-manas: intelligent management solutions & Entrepreneur, Co-Creator INNO-VERSE “Simplify innovation with AI”.