We often see lists of innovations that will define the next 10 years, but this list will stick to five years. For, the innovation cycle has been abbreviated considerably. What seemed innovative a decade ago is almost irrelevant today, and today's market-movers weren't even a twinkle in their inventors' eyes in 2003. Don't believe me? Here are a few things that didn't exist in January 2003 or weren't accessible to most global consumers: broadband, Facebook, HD TV, satellite radio, smartphones and YouTube.
Here are five ways that could change how we innovate in the next five years, ie, alter the process of insight-inspiration-design-development-implementation.
MOOCs:Innovations are built on the bedrock of knowledge. MOOCs, or massive open online courses, allow free access to training from top universities and will increase our ability to innovate. Imagine a smart Indian youngster learning about digital signal processing from Paolo Prandoni of the illustrious Ecole Polytechnique de Lausanne, Switzerland, and engaging in a post-class online discussion with astudent inGermany. With the local knowledge these youngsters bring, imagine the human signal-processing products they could develop. This scenario isn't a pipe-dream. Coursera runs that course, and there are 2.7 millions users worldwide already. And three Asians lead the big MOOC players: Coursera, edX and Khan Academy — Andrew Ng, Anant Agarwal and Salman Khan.
Super sensors: Sensors that detect human signals will help inventors understand consumer needs. Imagine an app that tests one's IQ based on the speed with which answers are given and also analyses one's positive or negative energy. Using face-recognition, pulse- and temperature-detection technology, the smartphone app takes note of your state of mind: whether you're interested or nervous when you see a question and directs you to tougher or easier questions. Wouldn't it be great to know if you are a natural genius or one who gets stressed as questions get tougher? Imagine what this technology can do on the shopping aisle, as you look at veggies. If you don't look keen, imagine a sign popping up to give you discounts and recipes so that you'll buy the carrots? Consumer-grade ECG/EEGs are already here. All we need is acompany that has the vision to put the systems together and into play.
3D printer:This will help inventors in rapid prototyping and let consumers access products just in time. 3D printers use an increasing number of materials, from plastic to stem cells, and allow developers to take concepts to prototype instantly. Soon, we will have users at home, "printing" out new shoes and clothes. Unfortunately, right now, the only product that is used for 3D printing is gun parts. Suppose innovators realise that the people using their app stumble time and again on the same phone keys. They can build an advanced keyboard and put it out on the app store. The app can be downloaded by users worldwide who then print the product. This one is a few years out, I admit, since the printers don't yet print circuits and plastics at the same time. But it's coming.
Wisdom of the community: Sites like Quirky.com evaluate, select and fund innovation production, based on the wisdom of the community. Thousands of people have submitted their ideas to be evaluated by Quirky, and participants can vote for the ones with the most potential.
Cloud computing: It is redefining the "company". End-users access cloudbased applications through a web browser or a mobile app while user data is stored on servers at a remote location. So, individuals or small organisations can now have professional management, financial systems and customer relations management that were hitherto the realm of large enterprises. In this new world, young innovators remain in their milieu, meet online, design a concept, make a prototype and produce a product. No supply chain managementissues, no billing conflicts. These innovations already exist or are just around the corner. They could democratise the process of innovation.