How to Build a Holistic, Smarter Approach to Product Innovation
Consumer goods companies are facing new opportunities and challenges in product innovation as they look to stand out at the shelf, resonate with consumers, and keep up with quickly shifting packaging and design trends. With growing demands for smarter, more personalized products, companies must find ways to innovate faster, streamline operations, and remain competitive in a crowded market.
Srinath Jonnalagadda, vice president of industry strategy for design and manufacturing at Autodesk, shares valuable insights into how businesses can harness advanced technologies such as AI, cloud, and automation to build more connected product development processes. Learn how removing non-value-added tasks to focus on a holistic approach to innovation can help businesses stay ahead.
CGT: What are some of today’s biggest opportunities surrounding product innovation within consumer goods?
Srinath Jonnalagadda: The consumer goods industry is evolving rapidly, and we're seeing some exciting opportunities for product innovation. The demand for smart, connected, and personalized products is stronger than ever.
We believe the biggest opportunities lie in helping companies bring new products to market faster, removing non-value-added tasks from design and manufacturing processes, and enhancing collaboration between design, manufacturing, and suppliers. By focusing on these areas, companies can streamline their workflows, foster innovation, and ultimately gain a competitive edge in the marketplace.
CGT: What are some of the biggest challenges companies face in seizing these opportunities?
Jonnalagadda: Increased competition. The market is more crowded than ever, so standing out is crucial. On top of that, fragmented and disrupted global supply chains make it tough to deliver products efficiently. The fast-changing consumer environment means companies need to be agile and quickly adapt to new trends and preferences. Plus, siloed data, workflows, applications, and decision-making processes can really hold back innovation and efficiency. Overcoming these challenges requires a holistic approach to streamline operations and enhance collaboration across all departments.
CGT: Where do you see the role of emerging technologies helping them to achieve their goals?
Jonnalagadda: Cloud technologies, automation, and AI are game-changers, enabling more efficient and connected product development processes. By bringing everyone together on a unified platform, companies can innovate faster and make the transition from design to manufacturing and operation much smoother.
At Autodesk, we’re excited about Fusion, our industry cloud for manufacturing, which exemplifies this approach by integrating various stages of product development into one comprehensive platform.
AI and automation are crucial here, helping to eliminate non-value-added tasks so teams can focus more on creativity and innovation. For instance, AI-powered tools like our Project Bernini and Generative Design are fantastic for sparking inspiration during the conceptual design phase. Additionally, AI-powered drawing automation and AutoConstrain for sketch geometry enhance precision and efficiency, cutting down on manual effort and reducing errors.
By leveraging these emerging technologies, companies can streamline their workflows, speed up time-to-market, and ultimately achieve their goals more effectively.
CGT: What’s one piece of advice you would give to senior leaders who want to invest more heavily in AI?
Jonnalagadda: Start with people, not technology. Don't get caught up in the grand promises of AI and buzzwords; instead, focus on where AI can deliver real value to your business.
Choosing the right strategic partner can greatly simplify the process. They can help develop a solid, executable plan that aligns with your company's objectives. Remember, investing in AI is a holistic change that involves both technology and people.
