A Study On The Impact Of Artificial Intelligence On Innovation Management

Artificial intelligence is a field of science concerned with building computers and machines that can reason, learn, and act in such a way that would normally require human intelligence or that involves data whose scale exceeds what humans can analyze. AI is a broad field that encompasses many different disciplines, including computer science, data analytics and statistics, hardware and software engineering, linguistics, neuroscience, and even philosophy and psychology. On an operational level for business use, AI is a set of technologies that are based primarily on machine learning and deep learning, used for data analytics, predictions and forecasting, object categorization, natural language processing, recommendations, intelligent data retrieval, and more. Innovation management involves the process of managing an organization's innovation procedure, starting at the initial stage of ideation, to its final stage of successful implementation. It encompasses the decisions, activities and practices of devising and implementing an innovation strategy. According to Gartner, innovation management is a business discipline that aims to drive a sustainable innovation process or culture within an organization. Oftentimes, these innovation management initiatives utilize a disruptive method of change to transform business. Innovation management is a combination of the management of innovation processes, and change management. It refers to product, business process, marketing and organizational innovation. Innovation management includes a set of tools that allow managers plus workers or users to cooperate with a common understanding of processes and goals. Innovation management allows the organization to respond to external or internal opportunities, and use its creativity to introduce new ideas, processes or products. It is not relegated to R&D; it involves workers or users at every level in contributing creatively to an organization's product or service development and marketing. The integration of artificial intelligence into innovation management opens a new chapter of efficiency and semantic search capabilities. With AI tools, innovators can process vast amounts of data with incredible speed and accuracy.

Keywords:

Artificial intelligence , failure management , ecosystem , big data , Internet of things