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Product Spark: Igniting Innovation in the Digital Age
Subject area: Science,Engineering and Technology · Area of research: Digital Age
DOI: https://doi.org/10.64388/IREV7I12-1715241
Abstract
The fast digitalization of products and services has, over the years, transformed the business model, customer relationships, and innovation processes across industries globally. Advances in artificial intelligence (AI), the Internet of Things (IoT), and information and communication technologies (ICT) have all led to Smart Products and digitally enabled services that are constantly transforming the nature of value creation, delivery, and capture. However, most companies still struggle to transform their digital potential into sustainable product innovation, despite these opportunities. This gap between technological capability and innovation output is one of the key issues product leaders and digital strategists face today. Hence, this paper presents the concept of Product Spark, a strategic trigger mechanism, which sparks innovation in digitally transformed settings. Drawing from literature on Smart Products, digital transformation, resistance to innovation, and automation of services, this study develops a conceptual framework to examine how digital readiness, strategic intent, human creativity, and market sensitivity combine to generate breakthrough innovation.
Keywords
Product Spark, Smart Products, Digital Transformation, Resistance to Innovation, IoT, Service Automation, Digital Readiness
How to cite this paper
@article{1715241,
author = {Richard Abiola Ogunsola},
title = {Product Spark: Igniting Innovation in the Digital Age},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {7},
number = {12},
pages = {723-729},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1715241.pdf},
abstract = {The fast digitalization of products and services has, over the years, transformed the business model, customer relationships, and innovation processes across industries globally. Advances in artificial intelligence (AI), the Internet of Things (IoT), and information and communication technologies (ICT) have all led to Smart Products and digitally enabled services that are constantly transforming the nature of value creation, delivery, and capture. However, most companies still struggle to transform their digital potential into sustainable product innovation, despite these opportunities. This gap between technological capability and innovation output is one of the key issues product leaders and digital strategists face today. Hence, this paper presents the concept of Product Spark, a strategic trigger mechanism, which sparks innovation in digitally transformed settings. Drawing from literature on Smart Products, digital transformation, resistance to innovation, and automation of services, this study develops a conceptual framework to examine how digital readiness, strategic intent, human creativity, and market sensitivity combine to generate breakthrough innovation.},
keywords = {Product Spark, Smart Products, Digital Transformation, Resistance to Innovation, IoT, Service Automation, Digital Readiness},
month = {June},
doi = {https://doi.org/10.64388/IREV7I12-1715241}
}