BW Businessworld

Why Innovation Is A Must-have For Businesses To Succeed

The panel discussion revolved around insights on innovation, changing customer expectations, and the need for businesses to transform

Photo Credit : Bivas Banerjee, Bivas Banerjee, Bivas Banerjee,

Necessity is the mother of invention but not necessarily that of innovation. Because innovation does not always arise from an existing need but often it creates a new need which eventually becomes the new normal. For example, when Apple innovated the iPod, it wasn’t really filling a need as we already had a mobile music player in the market – the Sony Walkman. But that was in 1979 and probably the last major innovation from Sony. The iPod was a significant improvement over the Walkman and that’s innovation.

In that context, panelists at the Salesforce Predictions 2017 event in association with BW Businessworld discussed on the topic “Why innovation is a must-have for businesses to succeed”. The event held in Bengaluru on January 10 saw a gathering of about 100 attendees from across industry verticals.

The panelists included Arun Balasubramanian, Area Vice President, Salesforce; Tushar Bansal, Associate Director, Product at Simplilearn; and P. Sivaramakrishnan, Senior Manager – IT, Titan Company. The panel discussion was moderated by Ayushman Baruah, Associate Editor, BW Businessworld.

The discussions revolved around the definition of innovation, trends in technology, and how businesses are keeping pace with the changing customer expectations.

Balasubramanian shared his views on how innovation is inherent to Salesforce highlighting that it has been ranked the second most innovative company in the world by Forbes in 2016. He talked about Salesforce Einstein, which integrates artificial intelligence into its CRM capabilities and delivers predictions and recommendations based on context.

Bansal of Simplilearn, an edutech company, said that education as an industry is ripe for disruption in India. “The traditional methods of learning and career progression have been too rigid and time consuming for today’s individuals who seek instant gratification. In 2017, hyper-personalisation and adaptive learning through blended learning methods for every individual will be largely driven by technologies like Artificial Intelligence.”

He said that Simplilearn is leading the way in enabling professionals acquire skills in digital technologies and helping them bridge the skill gap and explore newer domains. “At Simplilearn, every employee contributes to the innovation and plays a key role in impacting lives of professionals, their families and society at large.”

Sivaramakrishnan of Titan said that innovation is not about technology and products alone. “We need to innovate in every action we do in the value chain such as business model, process, sales, marketing, and services. At Titan, we believe in challenging the status quo and we call ourselves as a restless company (in a positive sense). It’s important to emotionally connect everyone in the organisation with the theme while you seek innovative ideas,” he added.

Top themes and market attention on: