Leading firms use more AI and are more successful at it!
Over the past months, we have reported on the Product Development and Management Association (PDMA) Best Practices Survey (BPS). This key resource provides insights for successful innovation and new product development improvement, and we continue to release core findings.
The BPS analysis identifies firms as "Leading" if they are among the best third in their industry, have the highest ratings on NPD performance, and are most successful at commercializing their new products.
The role of emerging technologies is growing ever more important. For innovation purposes, implementation of new technologies may offer great support in improving the innovation process and offering new insights. The PDMA BPS has researched the use of additive manufacturing, simulation tools, augmented and virtual reality, and artificial intelligence (AI).
Our analysis of 650 firms worldwide highlights that,
simulation tools are the most used technology and AI is the least used technology: 55 percent use simulation tools in the development process and just over 20 percent use AI;
the Leading firms are more likely to implement and use all of these technologies.
While using AI-based technologies is considered a successful practice for all firms in the survey, the Leading firms are significantly more successful at deploying AI at all stages of the NPD process.
We further find that,
25 percent of the firms sell stand-alone AI products and 36 percent have AI embedded in the products;
the Leading firms more often sell stand-alone AI products and more often offer products with embedded AI.
In sum, the Leading firms both adopt more technologies to improve the NPD process and also embed technology more often into their products.
Stay tuned for more take-aways from the survey or an upcoming webinar in this newsletter. If you want to know more about the survey and results you can contact the research team at eewald@pdma.org.
2021 Outstanding Corporate Innovator Award Finalists
Following a rigorous review process with nominations from around the globe, we have announced the 2021 Outstanding Corporate Innovator (OCI) Award finalists. Each finalist was chosen because of demonstrated sustained and quantifiable innovation success linked to disciplined practices and processes. The winner will be selected based upon the findings from extensive virtual site visits with all finalists. Read more here.
PDMA International Board
Call for Nominations
Are you ready for the next step in your professional journey?
The call for nominations for the 2022 PDMA Board of Directors is now open. Are you or a fellow PDMA member seeking a rewarding leadership role in this growing profession? Submit a nomination today. Per the PDMA bylaws, all individual members in good standing are eligible for nomination except PDMA Student Members. Self-nominations are accepted and encouraged.
The members of the PDMA Board of Directors are the stewards of the Association and are responsible for reflecting the views and interests of all our members. The Board also provides leadership, a shared vision, and a sense of mission for the association and is responsible for the fiscal health of the PDMA.
An ideal candidate for the board will display the following characteristics and attributes:
Proven performance – a solid track record of contributing to the success of programs, events, or projects.
Commitment – a demonstrated commitment to the organization and its mission and goals.
Time to serve – participating fully in association activities and meetings including monthly video board meetings for 1-2 hours and time in between Board meetings for project work and possibly service on a committee.
Understanding of teamwork – well-developed interpersonal and communication skills are essential to effective teamwork.
Sound judgment and integrity – the ability to make tough decisions.
Communication and "teaching" skills – an enthusiastic willingness to serve as a mentor and teacher to future leaders.
Ability to subordinate special interests – able to put the greater good ahead of one’s own personal or constituent interests.
Strategic thinkers – intuitive and interpretive skills; the ability to see the big picture.
Please note that the deadline for nominations is September 7, 2021. Board terms start January 1, 2022.
For questions regarding the nominations process or submissions, please contact Executive Director Eric Ewald at PDMA Headquarters at (651) 290-6280 or via email at: eewald@pdma.org.
Inside The Box Innovation from idea Generation to Product Launch powered by PDMA
September 7-9, 2021 9:00 – 11:30 AM (Eastern Time/GMT -5:00)
While we often think of creativity as an inherent trait, anyone—whether they're an artist or an actuary—can learn how to be more creative.
In this course, explore the different ways to learn creativity, and discover how to be more creative both on an individual basis and in a team setting.
Instructor Drew Boyd shares a set of behaviors and techniques that can help you generate novel ideas or solutions to problems. He helps you understand the barriers to creativity, shares how to facilitate effective group sessions for a better creative output, explains how to select the best ideas, and more. Innovators must expect resistance to their ideas and have a systematic way to overcome it. Drew will discuss resistance to ideas in detail and identify specific ways to work at overcoming resistance. And last but not least, for many companies, product launching is a core competency that must be maintained and strengthened.
This seminar outlines a comprehensive, step-by-step approach to achieving great product launch outcomes.
Exclusive 20% team discount available for two or more employees who register from the same company!* * To qualify for the 20% team discount, at least two employees from your company must register for this workshop by filling out our PDF registration form. Each individual attendee must fill out this form.
Check out kHUB PDMA's Online Content Resource
PDMA’s kHUB is an evolving collaborative tool that facilitates the creation and exchange of product management and development knowledge and best practices. kHUB is quite honestly the “hub”, that provides the basis for individual professional development and for organizational innovation, leading to a competitive edge. The seven kHUB content editors regularly find or write articles and blogs for posting and discussion.They also each regularly write a short Viewpoint Blog related to the BoK chapter they’re responsible to curate.
Last Chance to Enter! Global Student Innovation Challenge Submissions Accepted through August 30
University innovation teams will show off their understanding of product development and compete for prize monies. Student teams enrolled full time in a University program who develop an original concept for a product/service/software are welcome to develop a submission detailing the unique value proposition, evidence of demand, and mockup or embodiment of product. Designs for products, services or software of any type are welcome.
CAROLINAS Seeing the Elephant in the Room: A Fresh Look at the Power of Taking a Deep Dive on Revealing the Customer Journey
August 24, 2021 12–1 p.m. (EDT/GMT -5:00) Learn more and register
PITTSBURGH
2021 Fall Body of Knowledge Training
August 24, – October 12, 2021
CHICAGO The Best of Both Worlds: Making Agile Stage-Gate Work in Your Organization September 15, 2021 12 – 1:15 p.m. (CDT/GMT -6:00) Learn more and register
ST. LOUIS
How to Leverage Design Thinking to Create Better Products September 21, 2021 6:30–8 p.m. (CDT/GMT -6:00) Learn more and register
ST. LOUIS
The Five Immutable Truths About Great Product Managers December 14, 2021 4:30–6 p.m. (CDT/GMT -6:00) Learn more and register
JPIM Is Free with PDMA Membership. Access Your Journal Today!
The JPIM July 2021 issue is now available! Access the latest issue here.
Members, log in and access JPIM articles here. Non-members may access abstracts. Hard copy subscriptions for members can be purchased here.
Don't forget to download the JPIM app!
JPIM app for iOS and Android devices is available from the App Store or Google Play to read all of the issues and articles awaiting publication under "Early View". Search for Journal of Product Innovation Management.
Get NPD Professional Certification
The PDMA congratulates a community member who earned their NPD Professional Certification in July 2021!
Olga Dolan
Welcome, New Members!
PDMA is growing! Meet and connect with our new members by signing into the PDMA community on our website.
PDMA welcomed these new members in July 2021. We look forward to working with you! Professional Members
Ramesh Arunashalam
Charleen Chritton
Eric Enos
Ismail Khalil
Achyut Khire
Serge Manga
Angelo Mariano
Georgia Ntina
Andrey Slastenov
Noah Slippy
Chao Xia
Abdullah Allam
Joe Bachana
Elizabeth Crockwell
Meredith Dowless
Cecilia Meijer
Ekaterina Sabelnikova
Prashant Chouhan
Paul Epplett
Brian Meliska
Mike Roberts
