Signal Open innovation revives as AI raises the return on external ideas

Summary

AI could unlock up to $560 billion in value from research and development each year. It may also double the speed of R&D in science and software. Against this background, open innovation, which NASA and others recognise as a key way of sourcing ideas from outside an organisation, may expand as firms seek insights both with and beyond AI. Open innovation can speed progress, make crowdsourcing possible and help build communities around a shared problem. It can also support organisations in meeting their corporate social responsibility goals.