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Economic conditions are "nearly perfect," with only inflation standing in the way of a soft landing, Roger Altman told CNBC.

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𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗶𝘀 𝘁𝗵𝗲 𝗸𝗲𝘆 𝘁𝗼 𝘀𝘂𝗰𝗰𝗲𝘀𝘀! 💫 [Illustration by Pejman Milani] Deloitte conducted an exciting study on ‘The State of Innovation in German Companies’ over the past few months analyzing the maturity of innovation departments in German companies. The study identifies obstacles to innovation and outline strategies for organizations to overcome them. Here are some insights I find very interesting: ✔️ 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗲𝘅𝗰𝗲𝗹𝗹𝗲𝗻𝗰𝗲: Most companies focus on internal processes and structures for innovation, with 72% on process innovation, 63% on digitization, and 51% on organizational innovation. ✔️ 𝗔𝗜 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗲𝗻𝘁𝗲𝗿 𝗼𝗳 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴: Artificial Intelligence one of the main innovation topic, with 45% of initiatives using AI to optimize business processes, although its use remains cautious and experimental. ✔️ 𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀 & 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Technologies like AR/VR, Blockchain, and Quantum Computing receive less focus (18%), while sustainability is a top innovation theme for one in four managers. ✔️ 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲 & 𝗰𝘂𝗹𝘁𝘂𝗿𝗮𝗹 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀: Innovation initiatives face resource shortages, cultural resistance, and lack of risk appetite, hindering progress in many organizations. ✔️ 𝗠𝗲𝗮𝘀𝘂𝗿𝗶𝗻𝗴 𝘀𝘂𝗰𝗰𝗲𝘀𝘀: Only 27% use financial metrics to measure innovation success, with the majority relying on non-financial metrics and qualitative feedback. Innovation is a key driver of long-term business success. It’s crucial to get it right! 💫 What do you need to drive innovation in your organization?

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