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Home Β» Creating Value With Co-Innovation in AI, Data, and People
AI and Copilots

Creating Value With Co-Innovation in AI, Data, and People

Aaron BackBy Aaron BackSeptember 1, 2022Updated:November 4, 20223 Mins Read
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Acceleration Economy Cloud Wars Expo

In this episode of the Back @ IT podcast, Aaron Back welcomes guest Venkat Ramaswamy, professor at the University of Michigan’s School of Business and a recent main stage speaker at Cloud Wars Expo. They discuss the co-innovation ecosystem and address the changing needs of your customers’ customers.

Highlights

02:40 β€” Ramaswamy details his 20-plus years of experience in co-creation and creating valuable business partnerships.

04:04 β€” The old way of thinking fed rigid infrastructures into industry partners without collaborating for better solutions. The innovation model represents a fundamental shift in how solutions are developed and applied.

05:45 β€” The cloud has helped usher in a new standard of data-driven business decisions.

07:25 β€” Ramaswamy discusses “where value is generated” and how co-creation through cloud tools can pinpoint where partners can create the most value.

09:18 β€” Co-innovation forces companies to adopt alternate perspectives to successfully work alongside partners.

10:54 β€” Aaron addresses how businesses can address a lack of data through synthetic data and staying grounded as new technologies emerge.

12:33 β€” Ramaswamy breaks co-creation down into three key components:

  1. People are always trying to create together, but successful co-creation includes an element of speed and adaptability to changing conditions.
  2. Co-creation needs to be scalable.
  3. Co-creation covers the entire scope of a business’ systems and interactions.

14:27 β€” Among tech companies, co-creation must keep the end user in mind, implying that cloud vendors need to stay in touch with their “customers’ customers.”

16:41 β€” Aaron turns the discussion to co-creation around governance models. New ideas and technologies force companies to rethink or risk becoming stagnant and losing market share to competitors. Even customers must adapt past a “we’ve always done it this way” mentality.

20:39 β€” Ramaswamy addresses common pitfalls that companies find themselves in when transforming their governance models and the importance of starting from an “experience-first” perspective.

22:29 β€” Organizations must understand where and how interactions are happening before unlocking value through those interactions.

23:37 β€” People need democratized access to information, skills, and expertise. Data transparency, two-way communication, and reflexivity are all keys to fostering positive impacts.

26:32 β€” Co-creation isn’t like stacking LEGO blocks that may coexist but never fully mix together; it’s more like paint colors combining to create an intense new product. Ramaswamy discusses “risk-managed value and co-creation.”

28:25 β€” Aaron examines the relationship between CXOs, technologists, and end-users.

30:34 β€” Ramaswamy shares his “absolutely crucial” ingredient for effective co-innovation: visualization. Beyond words and images, helping people visualize new experiences and risks is integral to fostering innovation.


On-demand video from the event is rolling out now, with more than 40 hours of cloud education content β€” featuring 100-plus speakers β€” to be made available in the coming days. All content is free to Acceleration Economy subscribers with an on-demand pass.

CLIck here to get your cloud wars expo on-demand pass noW

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Aaron Back
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Aaron Back (Bearded Analyst), Chief Content Officer for Acceleration Economy, focuses on empowering individuals and organizations with the information they need to make crucial decisions. He surfaces practical insights through podcasts, news desk interviews, analysis reports, and more to equip you with what you need to #competefast in the acceleration economy. | 🎧 Love listening to podcasts wherever you go? Then check out my "Back @ IT" podcast and listen wherever you get your podcasts delivered: https://back-at-it.simplecast.com #wdfa

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