Welcome!

IBM Cloud Authors: Pat Romanski, Srinivasan Sundara Rajan, Elizabeth White, Sematext Blog, Liz McMillan

News Feed Item

Innovation - The key to Canada's Future Prosperity

TORONTO, Feb. 19, 2013 /CNW/ - Moving from talk to action on innovation in Canada was theme of the first day of the Business Innovation Summit 2013: Innovation for the Corporation, hosted by The Conference Board of Canada.

Daniel Muzyka, President and CEO, The Conference Board of Canada told the attendees that the time for innovation is now.

"One of the resonating themes of this Summit, that I agree with wholeheartedly, is we have many prescriptive reports about the nature of the innovation gap and how to close it. The real challenge is to get on with it."

"A focus on cost-cutting and efficiency has helped many Canadian organizations weather the economic turbulence, but this approach will ultimately render them obsolete. Only the constant pursuit of innovation can ensure long term success," he added.

HIGHLIGHTS
  • Relatively few Canadian firms manage their innovation processes, even though those that do generally obtain better results.
  • Internal financing is most important source of financing for Canadian firms.
  • Complacency and aversion to risk are seen as key cultural obstacles to improved innovation.

Canadian firms have only limited formal innovation management systems, said Michael Bloom, Vice-President, Organizational Effectiveness and Learning, The Conference Board of Canada. Yet key findings of the Conference Board's Innovation Metrics for Management 2012 survey indicate that firms that both allocate time for innovation and manage their processes get improved results.

"Spending time is not enough, formal innovation management is needed. This does not suggest that we argue for more control of innovation, but better coordination of innovation activities. It is something that should twig (in organizations), and it has not twigged yet," said Bloom.

Terry Stuart, Chief Innovation Officer of Deloitte, highlighted how Canadian start-up firms are high-growth "gazelles" in the first five years of their existence, but slow down their innovation and become "water buffaloes" by failing to grow beyond a certain size after the first five years.

John Lutz, President of IBM Canada, described the five Vs of "big data" - velocity, volume, variety, veracity and vulnerability. Lutz said Canada is the worldwide hub for IBM because "we believe we can do things in Canada and can be more than the sales arm of a multinational.

"We apply our management system all over the world, and we get fabulous results in Canada," he said. "The Canadian university system is magnificent. But something is missing when you leap across into commercialization."

The leaders of two organizations that are taking action on innovation presented their approaches during a luncheon.

Dr. Suzanne Fortier, President of the Natural Sciences and Engineering Research Council, launched the Interim progress report of the Strategy for Partnerships and Innovation. "NSERC's Strategy for Partnership and Innovation is a blueprint for action to increase Canada's benefits from its investments in research and development."

In his luncheon keynote address, Nitin Kawale, President, Cisco Systems Canada Co., said Canadian organizations need to let go of the old notions of work, and focus on productivity rather than work hours of 9-to-5. He added that organizations need to forego the concept of work-life balance for a different approach of work-life blending.

"People are not the problem. Productivity is not a Canadian worker problem…People are ready, but Canadians organizations are not," said Kawale. "Canadians are extremely productive in their personal lives. If organizations allowed Canadians to be as productive in their professional lives as they are in their personal lives, Canada would be a lot better off."

Amanda Lang, Senior Business Correspondent, CBC News and author of the new book, The Power of Why, called on the attendees to ask hard questions about why Canada should be the "sweet spot" on innovation when compared to other countries. She stated that a culture of complacency and risk aversion may offer some of the answer.

"Our natural-born curiosity got drummed out of us. What got drummed into us was fear of the wrong answer," said Lang.

The Summit continues Wednesday at the Fairmont Royal York. Keynote speakers include:

  • Simon Olivier, Vice-President, Growth, Market Strategy and Business Development, GE Canada;
  • Mike Andrade, Executive Vice-Presidetn, Diversified Markets, Celestica, Inc.;
  • Tom Jenkins, Executive Chairman and Chief Strategy Officer, OpenText Corporation; and
  • Peter Aceto, President and Chief Executive Officer, ING DIRECT Canada.

SOURCE Conference Board of Canada

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.