AI's impact on new product development with Dr. Robert Cooper

Innovation Talks

In this week's episode, we dive into the fascinating world of product development and innovation. We explore the evolution of the StageGate methodology, which has been a cornerstone of successful product launches for decades. Our guest, Dr. Robert Cooper, is a renowned innovation thought leader who has spent over 40 years studying the practices and pitfalls of new product projects. With his extensive knowledge and expertise, Dr. Cooper shares valuable insights on how companies can refine and improve their innovation processes to stay ahead in today's rapidly changing business landscape.

Dr. Robert Cooper is one of the most influential innovation thought leaders in the business world today. With a career spanning over four decades, he has dedicated his research to studying the practices and pitfalls of thousands of new product projects across various industries. As a prolific author and recipient of numerous awards, Dr. Cooper's expertise in innovation and product development is highly regarded. He is currently a Professor Emeritus of Marketing and Technology Management at the DeGroote School of Business at McMaster University and a Distinguished Fellow at Penn State Institute. With his wealth of knowledge and experience, Dr. Cooper continues to shape the field of innovation and help companies navigate the ever-changing landscape of product development.

"Artificial intelligence has just overtaken marketing... the other thing that it's taken over is things like pricing, dynamic pricing. Some of you may be familiar with Uber and how they do their pricing. The price goes up when the demand goes up. That's AI-based."

- Dr. Robert Cooper

Today on Innovation Talks:

• StageGate methodology has stood the test of time: Dr. Robert Cooper, the creator of StageGate, highlights that the basic principles of StageGate have remained relevant and effective over the years.
• Lean processes are crucial for efficiency: Many companies struggle with bloated processes and excessive documentation in their product development.
• Agile and StageGate can be combined: Dr. Cooper acknowledges the growing interest in Agile methodologies and their application in product development.
• Portfolio management is crucial for resource allocation: Many companies struggle with managing a large number of projects simultaneously.
• Artificial Intelligence (AI) is transforming product development: AI is playing an increasingly significant role in various stages of product development.

Resources Mentioned:

· StageGate: A methodology for product success introduced by Dr. Robert Cooper in 1986.

· Agile: A project management methodology that can be combined with StageGate for more efficient product development.

· Lean Six Sigma: A set of methodologies used to streamline processes and eliminate waste, which can be applied to the new product development process.

· Digital Twins: Virtual replicas of physical products or processes that can be used for simulation, testing, and optimization.

Resources:

· Dr. Robert Cooper’s Books

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