Idea in Brief
The Problem
In the past two decades, companies’ efforts to involve outsiders in the process of coming up with new offerings have taken off. Crowdsourcing and idea competitions are two prime examples. But firms still struggle to make use of the plethora of ideas that are generated.
The Root Causes
A lack of an efficient way to evaluate the ideas, domain experts’ struggles in accepting novel ideas, the inability of contributors to provide details needed to make their ideas feasible, and the challenge of synthesizing different ideas are all factors.
The Solution
Generative AI can help overcome these challenges. It can augment the creativity of employees and customers and help them generate and identify novel ideas as well as improve the quality of raw ideas.