Conor Carmody of The Innovation Exchange analyzes how the initiative connects large companies with innovative SMEs to accelerate digital transformation.
Digital transformation is an important consideration for modern companies.
Whether they are car processes, integrating a new technology or improving their digital infrastructure for customer satisfaction or inclusion, there are several ways in which partners seek digital transformation to stay updated.
However, success in digital transformation can sometimes be difficult to achieve. Factors such as resources and having the necessary knowledge required for change can directly affect the result of a digital transformation project.
Fortunately, there are supports designed to help. One of those organizations in Ireland is The Innovation Exchange, an initiative led by Skillnet Ireland.
Innovation exchange leads large companies with digital transformation challenges and connects them with Irish SMEs that have innovative solutions.
“We connect the maximum of Ireland
“Through our network, companies obtain direct access to the main technology suppliers in Ireland, ghosts of powerful collaborations that drive significant digital transformation. These associations offer a lasting impact, corporations advance their innovation objectives, growth of complete reads.”
Make connections
The exchange of innovation facilitates the thesis-innovator connections through a careful process, as Carmody explains to Siliconrepublic.com.
He says that there are six main steps for the initiative process, beginning with a presentation of web seminars where a representative of the corporate entity describes his challenge to a panel of innovation exchange members, all of which are potential providers of solutions.
Any member who thinks that the challenge can resolve and then presents a proposal to the exchange of innovation, then preselected itself and presented to the corporation. The Corporation invites all the proposals selected to present its ideas, which leads to a greater commitment between the parties, which finally results in signing an agreement.
Carmody says that since the beginning of the program in 2022, more than 1,300 companies have committed themselves to the framework.
Some examples of projects provided by the exchange of innovation include an agreement recently signed between Ireland gas and two scales, cation consulting and data conversion. Gas Networks Ireland signed the contracts with the scales to help address the challenges experienced by its clients with hearing impairment.
Another recent example saw Cricket Ireland end a contract with the Sport Sports Technology Supplier: 80, which agrees to implement a new Ireland registration system for players and clubs.
The obstacles
When it comes to the barriers that prevention companies achieve digital transformation objectives, Carmody says that urgency can be a challenge.
“Sometimes, in a hurry, companies do not always see the potential of solution suppliers,” he explains. “Sometimes there is a level of paralysis when trying to define the requirement and needs of the company.
“However, we provide a team to work with the company to understand the urgency, justification, deadlines and the budget of the required technological change.”
Carmody says they are two main areas that companies should consider when thinking about digital transformation.
“First, organizations need to see digital transformation as a strategic commercial objective instead of a technology project,” he says. “To boost success, it requires linking with strategic objectives, leadership support, cultural change and clearly defined successful monitors.”
Second, it advises that companies need to “take small steps” to start.
“Having presented a broad strategic image, it is important to start developing mini projects that allow rapid tests and victories,” he advises. “Often, temptation is trying to solve all problems, but our success shows that the implementation of small pilots allows the organization to feel comfortable with success and generate confidence in the equipment.”
Evaluate and implement
As new and disruptive technologies continue to impact the world of contemporary businesses, Carmody says that business leaders must act decisively to identify, understand and implement emerging technologies. Otherwise, they can risk being left behind, he says.
“The key to success will be to evaluate new technologies and understand the potential impact on the business and then be able to quickly implement solutions,” he says.
“When evaluating these new technologies, companies should be able to evaluate the impact that any new technology will have on the market and then quantify how the market will be affected and how fast the change will occur.”
As expected, artificial intelligence (AI) comes to mind when new and shocking technology is discussed.
“Probably the most pressing problem and the opportunity to approach business is that companies and leaders must prepare today for a world in which AI is everywhere, acting autonomously and integrated into all commercial systems and processes,” he sells.
“This must be an important factor in each commercial strategy discussion today.”
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