Host Ian Bergman engages in an insightful conversation with Jeffrey Diwakar, a seasoned innovator and leader in the corporate world. Their discussion centers around the importance of corporate innovation, the role of emerging technologies, and the future of the industry.
Jeffrey is a Technology Strategy Leader at Cummins, a global leader in power solutions, with a passion for innovation and driving technological advancements in the automotive industry. With his extensive expertise in emerging technologies, such as augmented reality and AI, he brings a wealth of knowledge to the table.
These are some of the main takeaways from our conversation with Jeffrey:
Cultivating a Growth Mindset:
A growth mindset is essential for driving corporate innovation. It involves embracing challenges, seeking continuous learning opportunities, and being open to new ideas and perspectives. Jeffrey emphasizes the significance of maintaining a growth mindset throughout his career, allowing him to constantly evolve and pursue innovative solutions. By fostering a growth mindset within organizations, leaders can inspire their teams to explore new possibilities and push the boundaries of what's possible.
Leveraging Emerging Technologies:
Emerging technologies, such as augmented reality (AR) and artificial intelligence (AI), have the potential to revolutionize industries. Jeffrey highlights the practical applications of AR in maintenance and marketing, enabling technicians to troubleshoot issues more efficiently and providing immersive experiences for customers. The advancements in AI have also paved the way for predictive maintenance, helping businesses identify and address problems before they occur. Embracing these technologies can enhance operational efficiency, improve customer experiences, and drive innovation within organizations.
Conviction and Customer Feedback:
Innovation requires conviction and a deep understanding of customer needs. Jeffrey emphasizes the importance of building conviction for innovative ideas and leveraging customer feedback to validate and refine them. By actively engaging with customers, organizations can gain valuable insights that drive the development of products and services aligned with their needs. This customer-centric approach ensures that innovation is not driven solely by internal assumptions but is grounded in the reality of the market.
Overcoming Resistance to Change:
Implementing innovation within large organizations often encounters resistance to change. Jeffrey highlights the need for strong leadership and effective communication to overcome these challenges. Leaders must create a supportive environment where employees feel empowered to embrace innovation and take calculated risks. By fostering a culture that values experimentation, learning, and collaboration, organizations can overcome resistance and foster a culture of innovation.
Pursuing Stretch Opportunities:
To drive personal and professional growth, individuals should actively seek stretch opportunities within their organizations. Jeffrey shares his experience of reaching out to leaders and expressing interest in roles outside his immediate domain. By taking on these stretch opportunities, individuals can expand their skill sets, gain diverse experiences, and position themselves for future career advancements. It's crucial to step out of comfort zones and embrace new challenges to unlock personal and professional growth.
Jeffrey Diwakar provides valuable insights into corporate innovation and the strategies to drive it. By cultivating a growth mindset, leveraging emerging technologies, embracing customer feedback, overcoming resistance to change, and pursuing stretch opportunities, individuals and organizations can thrive in the ever-changing landscape of innovation. Let's embrace these lessons and forge a path of continuous growth and transformation in our own careers and organizations.
Timestamps
(00:00:00) Introduction to the podcast and guest, Jeffrey Diwakar
(00:02:16) Importance of innovation and growth mindset in corporate environments
(00:05:45) The role of leadership in fostering an innovative culture
(00:10:29) Overcoming challenges and resistance to change in corporate settings
(00:15:02) Leveraging emerging technologies for business transformation
(00:21:40) The role of conviction and customer feedback in driving innovation
(00:25:46) The significance of talking to customers and avoiding the ivory tower mentality
(00:29:07) Navigating the high-risk, high-reward nature of innovation
(00:31:26) Exploring the practical applications of augmented reality in maintenance and marketing
(00:36:05) AI's impact on Cummins and the future of predictive maintenance
(00:40:47) Jeffrey's proudest moments and advice for aspiring innovators
(00:45:03) Looking ahead: Jeffrey's focus on innovation and the changing industry landscape