Innovation, lifeblood of society

MasterClass boris nemsic

On the 3rd of October, 2022, ESEM held a MasterClass “Innovation, lifeblood of society” by dr Boris Nemsic. He triggered the audience on the crucial importance of innovation.

Dr Nemsic stressed that more than half of the global GDP can be digitalized. That leaves an enormous opportunity for businesses and academia to innovate. The time is now for disruption and there is no other way for survival.

What inspired us

The Internet became the retina of the human eye. In today’s world, it has constructed an infrastructure that is used as a base for creating big ideas. Through the process of digitization and digitalization, wireless connectivity is making disruptive innovations across and between industries possible. 

The telecommunication industry is one of the examples that shows how providing a connection of knowledge and exponential growth of information can be helpful to other industries that also want to embrace rapid changes. Innovation is the lifeblood of any organization. Without it, there is no growth — but there is a slow death. 

  • More than half of the global GDP can still be digitalized – opportunities for innovations and growth are immense

A change is needed for the complete development of the infrastructure in all of the industries and innovation is a key contributor to new revenue and profit generation. We are living in a world where communication is key to opening the door of industry 4.0 and telecommunications/digital communication is playing a big part in connecting people with things in today’s global village. 

  • Automation is creating tools for connecting and merging industries, tearing down the barriers between humans and technology

Why is innovating hard? Nemsic gave many reasons, innovations not being part of companies’ DNA is one of them. Sure, the old ways of communication are slowly fading but we are embracing new ways of transforming business. The growth of connected devices brought the acceptance of the existence of all of the values in this new industry — AI, cloud computing, big data, IoT, and blockchain technologies. They are now important elements/tools for conducting any business in the 21st century. 

  • Technology revolution is bigger than any industry and through the example of telecommunication it has been pointed out how we can be inspired to make smart decisions in different businesses and industries
  • Before embracing new opportunities, and nurturing big and innovative ideas, companies must start thinking in a disruptive way

The Internet should be looked at as a basic human right — a right that gives us a chance of surviving in this modern world. Today, with one simple click (anywhere and in any time zone) we can change the way our business is conducted. The overflow of new information on the internet is available more than ever.  This is creating new opportunities for companies and their people to nurture big and innovative ideas.