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Innovation is key to everything we do. It helps businesses improve quality, efficiency, and reduce costs, which makes our lives better. Innovation can also boost profits and allow companies to outshine their competition. In today’s hyper-competitive world, a product or brand that neglects innovation is bound to lose importance and fade away to insignificance.
Here are six examples that demonstrate why innovation is so much better than relying on traditional strategies.
The assembly line is the automated automobile production system invented by Henry Ford at the start of the twentieth century. This resulted in the fast, bulk production of cars, helping to meet the increasing demands of the time. Until then, every car had to be manufactured using processes that involved a lot of manual steps and consumed a lot of time. The assembly line is one of the innovations in history that powered the industrial revolution by igniting a mass production of cars, and transportation has changed the face of the world since then.
A parking guidance system is another excellent example of how innovation is far better than the traditional way of parking. A parking structure equipped with a guidance system works with a set of sensors, indicators, Variable Message Signs (VMS), and an associated communication network for real-time data updates. A driver knows the number of parking slots empty within a parking structure in advance and where these empty slots are. This reduces parking stress, saves time and fuel, and lowers emissions, contributing to a green environment.
The BioMind concept is based on Artificial Intelligence (AI) and is a diagnostic system that is highly helpful in neurosurgery, which is perhaps the most complicated form of surgery. It can diagnose brain tumors, detect hematoma cases in people, and even defeat eminent physicians in China in diagnosing brain tumors. Biomind had a success rate of 87% in diagnosis, while doctors only had 66%.
Furthermore, the technology took just 15 minutes to diagnose while doctors took 30 minutes. An incorrect diagnosis can lead to the wrong surgery or medication, which shows how valuable innovation is versus traditional ways of doing things.
The steam engine, an invention in the eighteenth century, is an innovation that gave new direction and added vigor to the transportation of goods across long distances. Until then, transportation was fueled mostly on the muscle power of humans and animals. The steam engine made trains and ships possible and powered many machines in factories, greatly boosting industrial production. Such innovation continues to be the foundation stone that led to a generation of further innovation.
Quirky put themselves forward as the innovation of innovations. Humans have understood the value of innovation. However, many ideas lay dormant and never become a reality. That’s due to a lack of funds or know-how to develop them. Our lives greatly improve through innovation. So we simply can’t afford to let new concepts go to waste without seeing the light of day.
Hence, the community of Quirky welcomes ideas and concepts people have in their minds, being an effective crowdsourcing platform for innovation. Useful and innovative concepts are developed into products and solutions on this platform, and the owner of the original idea will get royalties from the sale of the new product. The innovative concept of Quirky is helping the world to innovate and develop faster.
IoT or the Internet of Things is one of the latest innovations and emerging technologies that integrate many other innovations for higher purposes. It’s the network of multiple devices connecting over the internet, allowing them to communicate with each other. It is technology that has ignited a host of new possibilities. IoT is the foundation of smart homes, whereby devices in a home interconnect. These devices use AI voices, and you can easily operate them by speaking in your preferred language.
Professionals are also applying it in smart cities, healthcare, consumer applications, transportation, driverless vehicles, robotics, agriculture, industries, and any field conceivable that uses electronic or electromechanical devices and the internet.
The above examples show that innovation increases profits and boosts quality and productivity in the business world. It also saves lives, which makes it invaluable and indispensable in today’s world. Though in the past the pace of innovation was sluggish.
Today innovation happens almost every moment in numerous fields, big and small. It’s obvious that invention has no limits. The whole world has become more and more advanced due to the emergence of a range of innovations. And as the world advances, it paves the way for even more innovation. The cycle goes on to make people’s lives better and better!
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