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Saloni Goyal
Saloni Goyal

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Innovation Velocity

"A formal technology skill development strategy fuels innovation velocity—how quickly you can build new skills that translate into Wall Street metrics.” - Tony Saldanha

Innovation Velocity Ratio

This simple measure of an organization’s innovation capacity is determined by how many employees consistently experience meaningful opportunities to innovate versus those who find these opportunities lacking, absent, or even threatening.

This ratio has a clear impact on an organization’s innovation capacity.

IVR

The competitive advantage today doesn’t belong to the company that’s learning the fastest; it belongs to the company that’s aligning and applying new skills in a strategic way.

Bottom line: A skill development strategy is non-negotiable in 2020—if you want to make it out of the fourth industrial revolution alive, that is.

According to International Data Corp’s FutureScape 2019 report, two million jobs in artifical intelligence (AI), the Internet of Things, cybersecurity and blockchain will remain unfilled by 2023 due to a lack of human talent.

In a recent study by Cognizant’s Center for the Future of Work (CFoW), only 27% of business executives claim their employees have the skills to work or interact with top emerging technologies, such as AI, bigdata/analytics, IoT, mobiletechnology, openAPIs and cybersecurity.

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