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"To innovate, we need to listen to society’s dreams"

 

Marc GIGET, Founder and President of the European Institute for Creative Strategies and Innovation

 

Know how to listen to customers

There's no shortage of technologies, what's lacking is integrating them to create useful services. You need to observe how people live and put yourself in their place. Contrary to what many people believe, companies actually do not know that much about their customers. One current trend, open innovation, is often directed upstream – with universities or partners – but too rarely brings users into the loop.

 

Users can innovate with you

In the past half-century, customers have become vastly more knowledgeable. They sometimes know more about products than the people who designed them! In healthcare, pharmaceutical companies innovate with patient associations. At Boeing, the 787 Dreamliner was co-designed with 140,000 passengers who expressed very precise expectations. Airlines have ordered huge numbers of this aircraft because it takes into account the expectations of the end customers.

 

Big Data changes insurance

Big data makes it easier to compare products, and this can hurt companies that aren't competitive. Also, insurance is based on a statistical analysis of risks, and big data can generate incredibly precise statistics, which calls into question the concept of risk sharing. When the measurement of risk changes, the entire insurance industry needs to pay close attention.

 

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