Embracing Digital Disruption

By • on February 9, 2019

The Auto Components website noted that open innovation as a concept is not new, but it is rarely prevalent in the automotive industry. With open innovation, problems and challenges of certain kind get opened up to an army of experts from across the globe resulting in multiple solution options that the firm posing the challenge can pursue. Such variety and speed cannot be achieved by relying only on internal resources. It is time to cross the self-imposed corporate boundaries and adopt open innovation. Despite the apparent benefits, established firms are conservative when it comes to concepts like open innovation. By joining hands with industry bodies firms can create industry level open innovation and collaboration platforms focused on the automotive industry.

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