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Charting the future of innovation management 

Innovation management is a critical area of research that seeks to understand how new ideas and technologies can be effectively developed and implemented to benefit organizations and society. The field is currently evolving significantly, in the light of important drivers of change, such as sustainability, artificial intelligence, or the emergence of a more fluid society. As the world faces these unprecedented challenges, innovation management research must evolve to provide insights and solutions that address these pressing issues. 

To explore the future of innovation management, leading scholars in the field gathered for the JPIM Innovation Summit. This event, held over three days in January 2023, brought together experts from various disciplines to identify key research directions. The summit aimed to create a comprehensive roadmap for innovation management research over the next 5–7 years, focusing on societal impact, technological advancements, and new business models. 

Exploring emerging research paths 

The article provides a structured framework for future studies, focusing on five key areas: liquid innovation, AI in innovation, business model innovation, public value innovation, and responsible innovation. 

"One of the challenges we faced was the sheer breadth and complexity of the topics we wanted to cover. It was crucial to ensure that the research agenda we proposed was both comprehensive and actionable, providing clear guidance for future studies," said Roberto Verganti. 

Key research findings 

• Liquid Innovation: the first big change ahead of us is that the real nature of innovation is mutating: products are continuously changing, even after they are released to the market (often incomplete), in a continuous flow of change, where users become key actors of innovation, exploring multiple simultaneous uses (think for example to the diffusion of digital twins, or to the multiplication of online identities of the same person) 

• The impact of AI on innovation: The study identifies AI as a transformative force in innovation management, with potential applications ranging from automated support to fully autonomous innovation leadership. 

• Business model innovation as a key driver: Business model innovation is highlighted as a prevalent form of innovation that can significantly alter industries and create new value propositions, driven more by market factors than technological capabilities. 

• Public value innovation for societal benefit: The research emphasizes the importance of innovation that delivers public value, focusing on sustainable solutions and processes that address societal challenges and improve quality of life. 

The future of innovation management research 

As innovation becomes increasingly complex and intertwined with global challenges, the study calls for a collaborative and interdisciplinary approach to research that considers the broader societal and environmental implications. "The potential for innovation to create positive societal impact is immense, but it requires a concerted effort from researchers, practitioners, and policymakers. Our research highlights the need for a collaborative approach that prioritizes meaningfulness for a complex range of stakholders, moving beyond the past focus on userism, In expanding the breadth of competences, an infusion of humanities, art and sensemaking frameworks can help us better understand how to handle innovation in a world where humans, ecologies and technologies are closely entangled" remarked Roberto Verganti. 

Meet the researchers 

This research was co-authored by Roberto Verganti, The Josefsson Family chair in Art and Innovation from the House of Innovation at the Stockholm School of Economics.