Five Must-Haves from your Innovation Discovery Tool
When you are interviewing a candidate for a position in your company, you assess a candidate’s qualifications; youinquire about their background and experience within your context areaand their mastery of relevant skills. You consider whether this is someone you can work with. Finally, you ask, is this candidate worth paying for?
If you are satisfied with the answers to all of these questions, then you likely have a new person to add to your team.
What if that new addition is not actually a person, but artificial intelligence? In the competitive world of scientific and technological innovation, you seek AI players that willbring you the wins. Here are some questions to help you select an innovation discovery tool.
Five Must-Haves from your Innovation Discovery Tool
Does it have the right background information?
We are talking about what the tool brings to the table: content. Here, quantity and quality are both important. For innovation discovery – whether you are performing prior art searches, patent landscape studies, or freedom to operate evaluations – you have entire sectors of the public domain to review. Look at that the innovation discovery tool’s scope of coverage to make sure it addresses not only your core technologies but also parent technologies and affiliated sciences. That is, what is the root of the work, and where else might it go?
Having a lot of content isn’t enough. The sources must be credible. In addition, the timing of publication and discovery is critical, especially when considering patenting or marketing an idea. Find an innovation tool that accesses worldwide databases from government agencies and industry leaders, and keeps the information up-to-date and fresh.
Can it operate within your context?
AI can be a huge asset to your discovery process, but only if it is properly trained. You expect a job candidate to have a working level of experience in your field. Likewise, when considering an AI-based innovation discovery tool, the correct machine learning (ML) method is vital to its effectiveness. Expertly designed algorithms produce patterns in the datasets, build models, and support predictive capabilities: as it receives more data, the AI tool engages in ML. Select an innovation discovery tool for your science and technology projects that is specifically trained on scientific and technical publications. Then, it will operate within your context and provide the most benefit.
What special skills does it offer?
To build an A+ team, you select A+ players that offer something the next candidate doesn’t. Innovation discovery is an iterative process that begins with a search step and takes you through many stages of analysis, detection, and revelation. Use an innovation discovery tool that partners with you every step of the way. It should not only return results but also offer a variety of perspectives from which to view those results. Value-added capabilities include visualization, mapping, valuation, and automation. This is how you find unexpected answers and actionable insights.
Can you work with it?
Wouldn’t it be nice to be understood? The easiest way to work with any tool is to just tell it what you are looking for. An AI-based innovation discovery tool is schooled in Natural Language Processing (NLP), so it knows what you mean. And, when you have one that operates within your context, it can clear out the noise of irrelevant references and answer you with the most valuable results. To bolster your semantic search power, combine Boolean operators with your natural language entry.
What else makes a tool easy to work with?
- A user-friendly interface
- Project saving and sharing options
- Downloading and exporting options
Is it worth the money?
The more pressing question is, can you afford to NOT employ an AI-based innovation discovery tool? A flexible pricing structure and a representative to find the best combination of features to meet your needs is just the beginning. The right tool helps you:
- Develop monetization strategies for intellectual property
- Manage patent portfolios and prioritize research investments
- Identify competitive positioning and determine litigation strategies
- Make important business decisions around competitive intelligence
- Streamlines a manual process by automating the assessment of ideas
- Shortens the innovation cycle by giving an objective analysis of a concept
- Enables the development of stronger patent applications
- Streamlines work of internal counsel and may reduce the need for using outside counsel
The initial investment in an AI-based innovation discovery tool can minimize operational costs and maximize the monetization potential of your intellectual property.
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