Why We Need Innovation in 2020
Innovation Ideas

Why We Need Innovation in 2020

Sahil Thakkar

Innovation is a sign of the times. We need to evolve with the times as well and keep moving forward into new eras. From the industrial revolution to the AI revolution, innovation always has been and always will be the one constant that drives sea change in our world and makes it better and more advanced every day.

As 2020 comes to a close, let’s reflect on why it’s the year of innovation and the three key reasons that make it so crucial this year.

1. CONTENT

You must have heard it a million times – content is king. No year has proved this more than 2020. With Amazon, Netflix, and YouTube having their biggest years yet due to everyone being at home, not to mention advances in new ways to consume content such as AR and VR, content is being consumed at a never-before-seen rate. And yet, it is still not being consumed faster than it can be made. It’s being pumped out even faster!

2. TECHNOLOGY

Another thing you must have heard a million times – technology is the future. How true! Technology has always been propelled by human ingenuity and it in turn pushes our innovative instincts even further. From the first private space company launch at NASA headquarters to the advent of drones being used more than ever before in everything from hospitals to food deliveries, technology has continued to wow us as always in 2020 and we know this trend will never stop!

3. HEALTH

It goes without saying that despite everything else that happened, the cornerstone of 2020 in one word was health. Our health, the health of our loved ones, and the health of people all over the world. Just as the first headlines started coming out from Wuhan, we all went on red alert and we haven’t really come out from it ever since. But if there’s one thing that will prove to be our savior, it’s innovation. From companies ceasing production to produce masks and sanitizers instead to new vaccines just being announced from Pfizer and Oxford that are 90-95% effective, it is clear we are finally seeing the light at the end of the tunnel, and it is innovation that brought us here!

Even more than just innovation, 2020 is also the year of innovation on innovation. With open innovation, structured innovation, and advances in how to innovate such as robust innovation management systems, we have truly begun the era of innovation, and it’s going to be a big one!