Global experts explore business impact of data-driven invention
On October 31, 2018, global experts and senior figures in the fields of invention, machine learning technology and intellectual property (IP) will gather in Switzerland for the second annual data-driven invention forum. Hosted by data-driven invention company Iprova at the exclusive Les Bois Chamblard villa in Buchillon, the forum will look to explore the future of invention and the impact a data-driven invention process has on an organisation’s ability to evolve and compete.
The event will feature a series of talks, each exploring a different aspect of the data-driven invention process – from the technology involved to its significance in opening up new business opportunities. Among the speakers will be Sir Hossein Yassaie, tech investor and former CEO of Imagination Technologies; Ruud Peters, Philips’ former Chief IP Officer; Bill Fischer, professor of innovation at IMD, and Martin Jaggi, professor of machine learning at EPFL.
One of the recurring themes throughout the day will be the growing relevance of machine learning as a tool in the development of new products and services. Due to the high speed at which new information becomes available, and its ever–increasing volume, a growing number of businesses are realising the value of using machine learning, natural language processing (NLP) and other technologies to analyse this information for inventive signals – thus augmenting their ability to develop new products faster and more diversely.
Data-driven invention is the term used for the process of inventing new products using research data and insight drawn from various, often distant domains. To do this effectively, inventors must be able to draw from research in areas they are not necessarily experts in, which has traditionally been impossible to do due to the limitations of the human ‘processing power’. Iprova, the company hosting the event, is at the forefront of this new wave of invention, having developed a technology to provide an effective platform for data-driven invention.
“There are more than 2.5 quintillion bytes of data generated every day and this number is only growing. With such a large quantity of information available, it is increasingly difficult for R&D teams to quickly identify opportunities for invention,” explained Julian Nolan, CEO of Iprova.
“As both the amount of information and the level of convergence are increasing at an ever-accelerating pace, it is possible that data-driven invention will become critical for the success of both product and service-based companies in the coming years.”
Iprova’s data-driven approach to invention is currently the most efficient and effective way for companies to gain a competitive advantage from their inventions. During the data-driven invention forum, experts in IP, R&D and technology will be exploring how this approach fits into existing R&D and patenting structures, and how it can impact strategic business decisions.
Representatives from a select group of leading companies from across the globe will also be in attendance, discussing their own approaches to research and development (R&D) using modern invention techniques. It is expected that these discussions will prompt conversations that redefine the approaches businesses take to inventing new products and services.
Insight from the forum will be available following the event. R&D teams and innovative business leaders interested in learning more about invention strategies to improve their competitiveness can contact Iprova on +41 (0) 215 520 790.