Innovation management is a mature field in which corporate tech innovation leaders have a large toolkit to help them do their job. Still, in practice, innovation management remains a challenge for many companies, as too many innovation teams struggle to integrate and use these tools well. Digital tools to address these challenges can greatly improve the speed and effectiveness of innovation. Our survey of 38 corporate innovation leaders highlights several major areas where digital tools are used including idea generation, concept evaluation, tech research, project management, and developing novel business models. These new digital tools will have a major impact on corporate innovation over the next five to 10 years. The firms that master these new tools will gain a significant competitive advantage.
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