E68 | How to Avoid the Biggest Innovation Mistakes

In this episode of AI For Pharma Growth, Dr. Andree Bates is joined by Bruno Pešec, who shares his journey into the pharmaceutical industry.

They explore the distinction between doing and managing innovation, emphasising the pitfalls to avoid. Bruno highlights the significance of investing wisely, steering clear of ideas with limited market potential. Overcoming executive fear of innovation and understanding market scale are crucial.

They discuss the importance of creating a budget for innovative ideas, releasing funding incrementally, and combining data with human intuition for decision-making. The role of AI is considered, along with risks tied to innovation implementation and metrics for measuring success. They also examine successful business models in pharma, alongside a practical guide to lean experimentation.

In this episode you will learn:

• How to distinguish between doing and managing innovation
• The common mistakes in innovation
• Why executives often fear innovation 
• Why it’s important to understand the scale of the market in relation to innovation
• How to combine data and human intuition for making the best decisions in innovation

Click to connect with Dr. Andree Bates for more information in this episode: https://eularis.com/

For more information on Bruno’s work, head to his website: https://www.pesec.no/

AI For Pharma Growth is the podcast from pioneering Pharma Artificial Intelligence entrepreneur Dr. Andree Bates created to help organisations understand how the use of AI based technologies can easily save them time and grow their brands and business.

This show blends deep experience in the sector with demystifying AI for all pharma people, from start up biotech right through to Big Pharma. In this podcast Dr Andree will teach you the tried and true secrets to building a pharma company using AI that anyone can use, at any budget.

As the author of many peer-reviewed journals and having addressed over 500 industry conferences across the globe, Dr Andree Bates uses  her obsession with all things AI and futuretech to help you to navigate through the, sometimes confusing but, magical world of AI powered tools to grow pharma businesses.

This podcast features many experts who have developed powerful AI powered tools that are the secret behind some time saving and supercharged revenue generating business results. Those who share their stories and expertise show how AI can be applied to sales, marketing, production, social media, psychology, customer insights and so much more.

Resources:

Dr. Andree Bates LinkedIn | Facebook | Twitter