Business Strategy in the Artificial Intelligence Economy

CHAPTER 6

Artificial Intelligence and Innovation Management: Improving an Innovation Portfolio Through Machine Learning

Carlos Vasquez

Introduction

Innovation is a central issue in contemporary organizations (Dodgson, Gann, and Phillips 2013b; Fagerberg and Verspagen 2009; Salter and Alexi 2013). When managed effectively, innovation can improve both the top and bottom lines of businesses worldwide (Dodgson, Gann, and Salter 2008; Tzeng 2009). However, ineffective management of innovation may lead to an organization becoming uncompetitive or reliant on technologies that, once successful, are now obsolete (Dodgson, Gann, and Phillips 2013a; Christensen 2013; Freeman and Soete 1997). Technology can facilitate effective innovation management; frameworks ...