{"id":12462,"date":"2022-02-11T17:57:18","date_gmt":"2022-02-11T17:57:18","guid":{"rendered":"https:\/\/www.frost.com\/events\/product-innovation-development\/?p=12462"},"modified":"2022-02-14T19:11:29","modified_gmt":"2022-02-14T19:11:29","slug":"key-take-aways-from-14th-pds","status":"publish","type":"post","link":"https:\/\/www.frost.com\/events\/innovation\/key-take-aways-from-14th-pds\/","title":{"rendered":"Key Insights and Ideas from the 14th Annual New Product Innovation & Development: A Frost & Sullivan Executive MindXchange"},"content":{"rendered":"
\"PatriciaBy Patricia Jacoby
\nContent Specialist, Marketing
\nFrost & Sullivan
\n<\/em><\/div>\n

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“Has ten years of innovation taken place in the past nine or ten months?\u201d <\/em><\/h2>\n

Top executives in product development, innovation and engineering gathered recently in Orlando, Florida for the 14th Annual New Product Innovation & Development: A Frost & Sullivan Executive MindXchange<\/a>. The event, themed Being Dynamic in a Post-Pandemic World,<\/strong> was punctuated by the participants\u2019 excitement in exchanging ideas and insights in person, in real time!<\/p>\n

As one thought leader stated, the event was focused on people \u2013 other participants, customers and employees \u2013 as well as technology and the importance of designing digital solutions and processes in the organization. Participants particularly enjoyed the small group format of Collaboration Zone Roundtables like Accelerating Innovation by Thinking (and Executing) Like a Startup,<\/strong> as they facilitated the sharing of new approaches to common challenges. Overall, the event fostered relationship-building, and gave everyone the chance to examine the popular belief that, \u201cTen years of innovation has taken place in the past nine or ten months.\u201d <\/p>\n

Sustainability and innovation<\/strong><\/h3>\n

Sustainability and collaboration were on the minds of many of the leaders in attendance. These topics and others were addressed by Dr. Sean Simpson, Founder and Chief Scientific Officer, LanzaTech, in the opening headliner session, 2022 and Beyond: The Third Wave- Accelerating Product Innovation<\/strong>. Stating that \u201cdisruption is the new normal,\u201d Dr. Simpson told participants that getting used to change would be necessary for survival. Emphasizing the imperative to address the current climate crisis, he discussed how to reduce the growing amount of carbon dioxide in the atmosphere and outlined his organization\u2019s process for converting it into a sustainable, recyclable resource. He also shared how companies like L\u2019Oreal, Unilever and Coty are starting to use recycled carbon in their product creation and packaging \u2013 a win-win for businesses and the environment. As one participant said, \u201cSimpson\u2019s presentation speaks to every industry and we all must ask, \u2018What are we doing to help the earth?\u2019\u201d <\/p>\n

Digital execution: lessons learned<\/strong><\/h3>\n

Christine Hawkins, Director, Digital and Customer Process Transformation, HP, led another headliner session, Executing on Digital Product Innovation<\/strong>. Noting that \u201cdense city populations will drive new business models,\u201d she reminded participants that technologies will need to change and evolve with the market and that the shift to digital processes and products will continue. Hawkins shared both successful and not-so-successful digital product development initiatives at her organization and briefly summarized some of their learnings with the following roadmap for change:<\/p>\n

Roadmap for change to enable digital products to grow:<\/strong><\/p>\n