NOVEMBER 202219The rise of digital technologies and open digital platforms used in material informatics has changed the innovation outlook as a wholedigital technologies and open digital platforms used in material informatics has changed the innovation outlook as a whole. R&D teams have moved beyond the implementation of fragmented standalone systems and are now pursuing cross-functional and cross-value chain integration- using technology to support and connect the entire innovation process. For example­ when AI is being used to empower materials innovation, a plethora of advances are being uncovered that include rapid low-cost formulations by evaluating, optimizing, and assimilating ingredient recipes and domain knowledge. India, China, and the US are all strong representations of how embracing technology leads to innovation, which in turn returns in economic growth.New Technology for SustainabilityWith environment consciousness driving consumers' choices, achieving sustainability through innovation is becoming the future for industries across the globe. The conversations around this are no longer about how to create a sustainable sector but are more about how innovation through R&D, heralded by the sector, can lead the way for a better sustainable world at large. Today, society plays a major role in pushing governments and companies to become more conscious about protecting the environment. Hence, the role of innovation in companies is moving from product innovation to enhancing functionality, customizing products and adapting to new market opportunities catering to the needs of customers.Embracing the ChangeTechnology will play a key role in finding long-term sustainable solutions to minimize permanent damage to Mother Earth. R&D and Technology­ for a sustainable world, has to be embedded into the social, political and industrial outlook.For example- in the chemical industry, adopting IIoT, AI and Machine Learning allows manufacturers to harness the potential between the digital and physical worlds making it efficient and sustainable in three major ways:1. Real time access to health of operations including equipment, emissions, supply chain. It opens a world of rapid action to quickly detect and track quality issues, and monitor the efficiencies and effectiveness from cradle to grave of products/services.2. Delivers opportunities in developing circular economy models resulting in restorative or regenerative designs to positively impact Sustainability principles and save our planet.3. Real Time focused solutions: for instance Digital Farming using AII and Crop Monitoring System, can harness the power of Space-borne Remote Sensing & AI tools. Delivering precision farming solutions resulting in targeted use of fertilizers/crop protection products, optimal use of water, resulting in improved yield and better nutritional content in the crops. The Agri sector is accepting the technology shift and changing the R&D landscape.All technological and scientific advances must hold promise for first, a significant social, then economic benefits backed by increased efficiency, and enhanced productivity across a host of sectors. This would be the sustainable promise one can offer their plant and future generations. A strategy based around green, sustainable innovation can sharpen a company's DNA, and transform an organization's mind-sets, culture and processes to live excellence as a way of life in all dimensions of innovation.
< Page 9 | Page 11 >