Businesses must adapt “Open Innovation” to increase efficiency: Prof. Solomon Darwin

Hyderabad, 15 December 2022: Modern businesses need to embrace “open innovation” for success, which means sourcing ideas and solutions from a wide range of people and organisations outside their own organisation to boost productivity and bring innovation, said Prof. Solomon Darwin, at an innovation forum – Knowledge Exchange Sessions Series (KNEX) 2.0, organised by Experian GIC, Hyderabad, a part of Experian’s global network of development centres.

“Many global leaders in industry are embracing ‘open innovation’ as a progressive business strategy. It has enormous potential across all industries, not just in technology. Businesses must skilfully combine the principles of open innovation, adapting both internal and external ideas to enhance efficiency, resulting in progress for their organisations and the industry as a whole,” said Prof. Darwin, who is also an international speaker on open innovation and open business models. He is also an experienced leader in corporate management academia.

Other eminent speakers included Yashraj Bhardwaj, co-founder of Petonic Infotech & Ideax Solutions Advisor – Berkeley, Niti Aayog and Sreenivasa Uppuluri, an entrepreneur and start-up incubator, who delved into various aspects of the implementation of open innovation by companies, and provided insights on corporate innovation, artificial intelligence, and machine learning.

KNEX is an initiative by Experian to promote knowledge sharing through informative speaker sessions on various topics covering technology trends, Experian projects and programmes, business models, and more. KNEX is organised monthly, where subject matter experts are invited to share their ideas and learnings about popular and in-demand topics and the latest technological tools.

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