Weeks Where Decades Happen: Senior Innovation Leaders Share Their Wisdom
Our Privacy Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you acknowledge our privacy policy and consent to the use of cookies.  Our Privacy Policy has been updated! Detailed information on the use of cookies on this site is provided in our cookie policy and our privacy policy. 
TCB Tourch
Loading...
  • logoImage
  •  
    • US
    • EUROPE
    • ASIA
  • 2

    Close
    • Insights
        • Insights
        • Explore by Center
          • Explore by Center
          • CED
            Committee for Economic Development

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications

        • Explore by Content Type
          • Explore by Content Type
          • Reports

          • Upcoming Webcasts

          • On Demand Webcasts

          • Podcasts

          • Charts & Infographics

        • Trending Topics
          • Trending Topics
          • Artificial Intelligence (AI)

          • Navigating Washington

          • Geopolitics

          • US Economic Forecast

          • Sustainability

          • Future of Work

    • Events
        • Events
        • Upcoming Events
          • Upcoming Events
          • People First: Opportunity and Access

          • CHRO Summit: Navigating through a Tsunami of Change

          • Future: People Asia

          • Executive Compensation in a Disruptive World

          • CED Distinguished Leadership Awards Celebration

          • The 2025 IBI/Conference Board Health and Productivity Forum

          • Explore all Upcoming Events

        • Member-Exclusive Programs
          • Member-Exclusive Programs
          • Center Briefings

          • Experts Live

          • Roundtables

          • Working Groups

          • Expert Briefings

    • Data
        • Data
        • Consumer Confidence Index

        • Data Central

        • TCB Benchmarking

        • Employment Trends Index

        • Global Economic Outlook

        • Leading Economic Indicators

        • Help Wanted OnLine

        • Labor Markets

        • Measure of CEO Confidence

        • Human Capital Benchmarking &
          Data Analytics

        • CMO+CCO Meter Dashboard

    • Centers
        • Centers
        • Our Centers
          • Our Centers
          • Committee for Economic Development

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications

        • Center Membership
          • Center Membership
          • What Is a Center?

          • Benefits of Center Membership

          • Join a Center

    • Councils
        • Councils
        • Find a Council
          • Find a Council
          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications

        • Council Membership
          • Council Membership
          • What is a Council?

          • Benefits of Council Membership

          • Apply to a Council

    • Membership
        • Membership
        • Why Become a Member?
          • Why Become a Member?
          • Benefits of Membership

          • Check if Your Organization is a Member

          • Speak to a Membership Associate

        • Types of Membership
          • Types of Membership
          • Council

          • Committee for Economic Development

          • Economy, Strategy & Finance

          • Governance & Sustainability

          • Human Capital

          • Marketing & Communications

          • Insights

        • Already a Member?
          • Already a Member?
          • Sign In to myTCB®

          • Executive Communities

          • Member-Exclusive Programs

    • About Us
        • About Us
        • Who We Are
          • Who We Are
          • About Us

          • In the News

          • Press Releases

          • Our History

          • Support Our Work

          • Locations

          • Contact Us

        • Our Community
          • Our Community
          • Our Leadership

          • Our Experts

          • Trustees

          • Voting Members

          • Global Counsellors

          • Careers

          • This Week @ TCB

    • Careers
    • This Week @ TCB
    • Sign In to myTCB®
      • US
      • EUROPE
      • ASIA
    • Insights
      • Insights
      • Explore by Center
        • Explore by Center
        • CED
          Committee for Economic Development

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

      • Explore by Content Type
        • Explore by Content Type
        • Reports

        • Upcoming Webcasts

        • On Demand Webcasts

        • Podcasts

        • Charts & Infographics

      • Trending Topics
        • Trending Topics
        • Artificial Intelligence (AI)

        • Navigating Washington

        • Geopolitics

        • US Economic Forecast

        • Sustainability

        • Future of Work

    • Events
      • Events
      • Upcoming Events
        • Upcoming Events
        • People First: Opportunity and Access

        • CHRO Summit: Navigating through a Tsunami of Change

        • Future: People Asia

        • Executive Compensation in a Disruptive World

        • CED Distinguished Leadership Awards Celebration

        • The 2025 IBI/Conference Board Health and Productivity Forum

        • Explore all Upcoming Events

      • Member-Exclusive Programs
        • Member-Exclusive Programs
        • Center Briefings

        • Experts Live

        • Roundtables

        • Working Groups

        • Expert Briefings

    • Data
      • Data
      • Consumer Confidence Index

      • Data Central

      • TCB Benchmarking

      • Employment Trends Index

      • Global Economic Outlook

      • Leading Economic Indicators

      • Help Wanted OnLine

      • Labor Markets

      • Measure of CEO Confidence

      • Human Capital Benchmarking & Data Analytics

      • CMO+CCO Meter Dashboard

    • Centers
      • Centers
      • Our Centers
        • Our Centers
        • Committee for Economic Development

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

      • Center Membership
        • Center Membership
        • What is a Center?

        • Benefits of Center Membership

        • Join a Center

    • Councils
      • Councils
      • Find a Council
        • Find a Council
        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

      • Council Membership
        • Council Membership
        • What is a Council?

        • Benefits of Council Membership

        • Apply to a Council

    • Membership
      • Membership
      • Why Become a Member?
        • Why Become a Member?
        • Benefits of Membership

        • Check if Your Organization is a Member

        • Speak to a Membership Associate

      • Types of Membership
        • Types of Membership
        • Council

        • Committee for Economic Development

        • Economy, Strategy & Finance

        • Governance & Sustainability

        • Human Capital

        • Marketing & Communications

        • Insights

      • Already a Member?
        • Already a Member?
        • Sign In to myTCB®

        • Executive Communities

        • Member-Exclusive Programs

    • About Us
      • About Us
      • Who We Are
        • Who We Are
        • About Us

        • In the News

        • Press Releases

        • This Week @ TCB

        • Our History

        • Support Our Work

        • Locations

        • Contact Us

      • Our Community
        • Our Community
        • Our Leadership

        • Our Experts

        • Trustees

        • Voting Members

        • Global Counsellors

        • Careers

        • This Week @ TCB

    • Careers
    • Sign In to myTCB®
    • Download TCB Insights App
  • Insights
    Insights

    Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years.

    Explore All Research

    Economic Indicators

    • Explore by Center
    • CED
      Committee for Economic Development
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    • Explore by Content Type
    • Reports
    • Upcoming Webcasts
    • On Demand Webcasts
    • Podcasts
    • Charts & Infographics
    • Trending Topics
    • Artificial Intelligence (AI)
    • Navigating Washington
    • Geopolitics
    • US Economic Forecast
    • Sustainability
    • Future of Work
  • Events
    Events

    Our in-person and virtual events offer unmatched opportunities for professional development, featuring top experts and practitioners.

    See Everything Happening This Week

    Sponsor a Program

    • Upcoming Events
    • People First: Opportunity and Access

      June 12 - 13, 2025

      CHRO Summit: Navigating through a Tsunami of Change

      June 24, 2025

      Future: People Asia

      September 04 - 05, 2025

    •  
    • Executive Compensation in a Disruptive World

      September 16 - 17, 2025

      CED Distinguished Leadership Awards Celebration

      October 08, 2025

      The 2025 IBI/Conference Board Health and Productivity Forum

      October 16 - 17, 2025

    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
    • Explore by Type
    • Events
    • Webcasts
    • Podcasts
    • Member-Exclusive Programs
    • Center Briefings
    • Experts Live
    • Roundtables
    • Working Groups
    • Expert Briefings
  • Data
    Corporate Disclosure Data

    TCB Benchmarking

    Real-time data & analytical tools to benchmark your governance, compensation, environmental, human capital management (HCM) and social practices against US public companies.

    Economic Data

    All Data

    See current direction and trends across key indicators

    Consumer Confidence Index

    US consumers' thoughts on the economy, jobs, finances and more

    Data Central

    One-stop, member-exclusive portal for the entire suite of indicators

    Labor Markets

    Covering all aspects of labor markets, from monthly development to long-term trends

    Measure of CEO Confidence

    Examines the health of the US economy from the perspective of CEOs

     

    Recession & Growth Trackers

    See the current and future state of 16 economies.

    Global Economic Outlook

    Track the latest short-, medium-, and long-term growth outlooks for 77 economies

    Leading Economic Indicators

    Track the state of the business cycle for 12 global economies across Asia and Europe

    Help Wanted OnLine

    Track the status of job markets across the US through online job listings

    Other Featured Data

    Human Capital Analytics Tools

    Tools to understand human capital management and corporate performance

    CMO+CCO Meter Dashboard

    Tracks the impact, resources, and satisfaction of CMOs and CCOs

  • Centers
    Centers

    Centers offer access to world-class experts, research, events, and senior executive communities.

    Our Centers
    • Committee for Economic Development
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    Center Membership
    • What Is a Center?
    • Benefits of Center Membership
    • Join a Center
  • Councils
    Councils

    Councils are invitation-only, peer-led communities of senior executives that come together to exchange knowledge, accelerate career development, and advance their function.

    Find a Council
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    Council Membership
    • What Is a Council?
    • Benefits of Council Membership
    • Apply to a Council
  • Membership
    Membership

    Membership in The Conference Board arms your team with an arsenal of knowledge, networks, and expertise that's unmatched in scope and depth.

    • Why Become a Member?
    • Benefits of Membership
    • Check if Your Organization is a Member
    • Speak to a Membership Associate
    • Types of Membership
    • Council
    • Committee for Economic Development
    • Economy, Strategy & Finance
    • Governance & Sustainability
    • Human Capital
    • Marketing & Communications
    • Insights
    • Already a Member?
    • Sign in to myTCB®
    • Executive Communities
    • Member-Exclusive Programs
  • About Us
    About Us

    The Conference Board is the global, nonprofit think tank and business membership organization that delivers Trusted Insights for What's Ahead®. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future.

    Learn more about Membership

    • Who We Are
    • About Us
    • In the News
    • Press Releases
    • Our History
    • Support Our Work
    • Locations
    • Contact Us
    • Our Community
    • Our Leadership
    • Our Experts
    • Trustees
    • Voting Members
    • Careers
    • This Week @ TCB
Check if You're a Member
Create Account
Forgot Your Password?

Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's Ahead ® including webcasts, publications, data and analysis, plus discounts to conferences and events.

Economy, Strategy & Finance Briefs

Timely insights from the Economy, Strategy & Finance Center

  • Email
  • Linkedin
  • Facebook
  • Twitter
  • Copy Link

Weeks Where Decades Happen: Senior Innovation Leaders Share Their Wisdom

August 20, 2020

The following insights are from the summer Advisory Board meeting of The Conference Board Innovation & Digital Transformation Institute. The Advisory Board comprises senior innovation leaders from Salesforce, LEGO, 3M, Cargill, Accenture, and other leading global companies. Highlights from their candid discussion shine a light on current problems and opportunities in these critical functions.

Our current health and economic crises only accelerate the vital need for more innovation and faster digital transformation. 

Below, members of the Innovation & Digital Transformation Insitute Advisory Board explore the multiple levels of challenges and opportunities face in these unprecdented times.

 

Image

At the strategy level, innovate ambidextrously

 

Innovation Leaders need to become yet more ambidextrous. That means achieving the optimal balance of “perform and transform” to survive through the crisis and to thrive as they emerge from it. The innovation chief needs to guide both short-term profitability behind increased efficiency and transformative innovation by focusing on creating, developing, and commercializing ideas into new revenues in the long run. The default “perform” activities are critical, and the crisis has prompted ample creativity as companies have moved their businesses online (restaurants reinventing themselves as takeout shops) or created new products the market suddenly needed (face shields, sanitizers). 

But this is not enough. The post-crisis world will be very different. Hence, the “transform” side needs to be dialed up to generate new growth opportunities. In particular for those industries facing fork-in-the-road moments—oil and gas, travel, entertainment—this crisis will likely either be a launch pad or a tar pit. How to make it a launch pad? Understand the fundamental forces that will drive the future, project your strategy into that future, and visualize your new reality.  From that vision your next innovation portfolio should flow and your priorities be determined. Do this correctly, and you will not only survive but leave competitors that remain in denial in the dust.

 

At the leadership level, persevere

 

This is a time for patience, resilience, and humanity. A suggested role model for this period in business: Antarctica explorer Ernest Shackleton, who put people first, encouraged collaboration, and, amid a terrible disaster, brought home survivors. And look ahead, not behind you. As Shackleton said, “Optimism is true moral courage.”

 

At the mindset level, grow

 

 Leaders need to instill the confidence that we can do things we thought were impossible. And that fact is obvious now, the primary example being the ascendancy and success of remote workers. Before remote work became a necessity, it was seen by many as too unconnected or impersonal. Yet connecting and collaborating virtually is now a way of life.

 

At the metrics level, adapt

 

Businesses must look carefully at the appropriate metrics for our current way of working and innovating. Conventional result metrics have limited use, are lagging indicators, and can be misleading. There is a need to adopt both operational and performance metrics and to develop agile innovation accounting.

 

At the culture level, humanize

 

Humans must always come first. This is easier said than done, but now, more than ever, it is your people whose talent, fortitude, and engagement will find the answers to your challenges and assumptions. Set the stage by enabling curiosity, inclusion, and learning.

 

At the digital level, proceed with caution

 

“The crisis has done more for digital adoption than all CEOs and CIOs together in the last 10 years,” said one of the innovation leaders at our meeting. Companies are now emphasizing digital connections not only on the customer side—loyalty and engagement—but also in the back office—supply chain and HR systems. 

But there is an exception to this enhanced digital transformation: the disappointing performance of artificial intelligence (AI). AI, a possible solution to many pandemic problems, has fallen flat. Why? Many AI systems were “trained” on data generated by assumptions the pandemic has wiped out. Additionally, AI’s presumed power is failing in key areas. While AI has worked well with chat bots and robotic process automation, it is deficient in such key fields as pattern detection, pricing, optimization of labor, and workflow models. In fact, in some cases companies are returning to simpler spreadsheets to address these issues!

At the same time, some companies are learning to acquire and label data faster and building more resilient systems. Hyper scalers such as Google and Amazon are developing tools to help data scientists. AI Ops and Dev Ops are maturing quickly but are hindered by a shortage of data scientists.

Of course, focus must continue to be given to the ongoing challenges of data security and privacy that are fundamental for leveraging the digital potential while protecting the company and its customers.

 

At the cloud level, keep it real

 

Many functions like R&D can greatly expand their capabilities by using the cloud. But organizations need to ensure this is done strategically. The cloud’s benefits should not be viewed merely as a cost savings, but rather as an investment in stronger innovation output.

The cloud allows non-programmers to program software. Data can be bought and sold on the cloud. Partners can meet and work together, and companies can translate insights into new products. But this requires training the whole company to think like a cloud company, with corresponding speed and an agile mindset. This integration is key to getting good return on digital transformation investments: avoiding the extra work of fixing earlier siloed attempts.

 

On the cultural and behavioral level, know that you are crucial

 

Behavioral scientists have a tremendous responsibility to guide society through the crisis. Do what’s right. Stimulate and observe connections. Watch out for groupthink. Manage diversity and inclusion by leveraging proper data representation and by responsible nudging. The world needs your help.

 

On the talent level, seize the moment

 

The recession may provide a silver lining to companies looking to entice the scarce, high-end tech experts and outstanding students who would otherwise join startups or top tech companies. With venture funding down, everyone has a chance at this talent—provided they are visionary enough to know how to unleash and enable it to drive innovation.

Download Brief
Great News!

You already have an account with The Conference Board.

Please try to login in with your email or click here if you have forgotten your password.

  • Download
  • Download Brief

Authors

John  Metselaar

John Metselaar

Council Director, Asia and Europe Innovation Leadership Councils

Read BioJohn Metselaar

Rita Shor

Rita Shor

Co-leader of the Innovation and Digital Transformation Institute, Program Director for the Product & Service Development Council, and Co- Program Director for the Innovation Leadership Council

Read BioRita Shor

More From This Series

Brief

An Unexpected Competitive Advantage For Businesses? Tackling Data Privacy Practices Head On

March 29, 2021

Brief

Trust is the Tie that Binds Intangibles to Tangible Value: an interview with Barbara Brooks Kimmel

February 12, 2020

Brief

Making Intangibles Tangible: Not Including Intangible Assets in Financial Statements Can Lead to Consequences

October 22, 2019

Brief

Making Intangibles Tangible: Who is to Blame When Brands are Written Down?

September 11, 2019

Brief

If Innovation is Everything, It’s Nothing: How to Strategically Measure What Matters

September 10, 2019

Brief

What's Really Going on with American Consumers?

July 22, 2019

View Less View More

Conference Board Sample Web Chat
chatbot-Icon TCB Logo
chatbot-Icon
Navigating Washington - Sign up to receive the latest business insights related to executive orders, new laws, and changing regulations.
ABOUT US
  • Who We Are
  • Annual Report
  • Our History
  • Our Experts
  • Our Leadership
  • In the News
  • Press Releases
MEMBERSHIP
  • Become a Member
  • Sign In to myTCB®
  • Access Experts
  • Member-Only Events
  • Data & Benchmarking
  • Manage Account
EXPLORE
  • Centers
  • Councils
  • Latest Research
  • Events
  • Webcasts
  • Podcasts
  • This Week @ TCB
CONTACT US
  • Americas
    +1 212 759 0900
    customer.service@tcb.org
  • Europe/Africa/Middle East
    +32 2 675 5405
    brussels@tcb.org
  • Asia
    Hong Kong | +852 2804 1000
    Singapore | +65 8298 3403
    service.ap@tcb.org
CAREERS
  • See Open Positions
Terms Of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2025 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.
Terms of Use | Privacy Policy | Event Code of Conduct | Trademarks
© 2025 The Conference Board Inc. All rights reserved. The Conference Board and torch logo are registered trademarks of The Conference Board.
The use of all data from The Conference Board data and materials is subject to the Terms of Use. Reprint requests are reviewed individually and may be subject to additional fees.The Conference Board reserves the right to deny any request.

Thank you for signing up. You will now receive CEO Insights for What's Ahead every Wednesday morning. You can unsubscribe at any time or manage your preferences to receive more content from The Conference Board.

Announcing The Conference Board AI Virtual Conference Series

Explore the Impact of AI on Your Business

Members receive complimentary registration - Learn more >>