Open innovation is a term coined by Henry Chesbrough in his 2003 book, “ Open Innovation: The new imperative for creating and profiting from technology ”. Open innovation assumes that valuable ideas can come from inside or out of the company and can go to the market...
For centuries, science has been the pursuit of amateur, self-funded and self-motivated scientists: Sir Isaac Newton, Benjamin Franklin, Charles Darwin and Thomas Edison – to name just a few. However, in the first half of the 20th century, science became dominated by...
The banking industry has always been perceived as a bedrock of economic stability, but it is experiencing disruption at an increasing pace. A sea change in finance is being driven by technology, which is both expanding service capabilities and reshaping client...
Crowdsourcing is a new term, possibly coined in 2005 by Jeff Howe and Mark Robinson to describe how businesses were using the internet to outsource work to the crowd. In reality, crowdsourcing has been around for thousands of years. In fact, our democratic system of...
Sometimes I work with freelancers. No, that’s not true. I turn to freelancers almost every day: I ride Lyft and order food from Uber-Eats. When I go on a vacation I use Airbnb; when I shop I visit Etsy.com. Sometimes I ask for creative and marketing assistance...
Many giant companies have something in common: they are constantly engaged in crowdsourcing activities with their customers. Whether for ideation, research and development, testing or marketing, obtaining ideas or services from a large group of people can solve...
How do you scan an area of 305,000 sq km (118,000 sq mi)? This was the challenge for several countries in 2014, trying to solve the mystery of the lost Malaysia Airlines Flight 370. Tremendous effort and resources were put into finding the airplane’s remains,...
Crowdsourcing is a great way to generate novel ideas and has been adopted by corporations and governments around the world. But crowdsourcing has the potential to change the world – to solve some of humanity’s most pressing challenges by tapping into ideas generated...
Crowdsourcing has been around for a very long time. Although the term was coined in 2005 by Jeff Howe and Mark Robinson, editors at Wired, and though it is referred to as a form of Internet-based activities, there are many examples of projects which in retrospect can...