Every company wants to gain a competitive advantage. And I think most companies believe the right technology can be a game-changer. In fact, I am not alone in that opinion. Most companies with large R&D budgets are investing heavily in technology and artificial intelligence-based solutions.

Chances are, if you talk to five different leaders and ask them “What is innovation?” you’ll probably end up with five different answers. The ironic part? Innovation is an extremely popular buzzword and yet business leaders don’t always agree on the definition. Often you hear phrases like “creating new products.”  Sometimes you get a cheeky answer like “the process of innovating.”  After a couple of answers like that, you head over to Merriam-Webster.com for the definitive answer. Well, their definition is a little broader: a new idea, method, or device.