The Innovator's Nightmare: Obsolescence Before Launch

The Innovator's Nightmare: Obsolescence Before Launch

John Nosta 09/07/2021
The Innovator's Nightmare: Obsolescence Before Launch

When rapid innovation meets slow approval, no one wins.

A defining word in today's marketplace is speed.

Demanded by the board room and the living room, the rate of innovation is a defining aspect of success for companies old and new.

But there are two sides to the equation: The speed of innovation and the procedural aspects of getting an innovation to market.

Typically, in the pharma and life sciences industries, the role of process and regulation just can't keep up with the pace of innovation.

It becomes much like the classic chemical reaction, where the speed of the entire process is dependent upon one "rate limiting" step. And it's this critical step that defines the entire rate of reaction.

Today's innovator must face the reality that speed cuts both ways.

Ideas and concepts are subject to the next disruptive innovation that lies just around the corner.

This plan-spoken reality is particularly important today.

The emergence of "exponential growth" in many aspects of business and society is driving cognition and discovery (in human and artificial form) at speeds that are just inconsistent with the complacent methodology of bringing a product to market.

From regulatory approval (FDA, clinical trials) to aspects of marketing (ad creation, market research), today's rate-limiting steps may also be innovation's rate limiting constrains.

The big idea might not be enough.

The process itself may be the biggest competitive advantage an innovator can utilize.

The complexity of development, regulatory approval, and even the process of communication into to a busy marketplace must be central to the innovation itself.

The sad reality of "too late" may be the consequence of an innovation process that is just "too fast" for the entire system.

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John Nosta

Digital Health Expert

John is the #1 global influencer in digital health and generally regarded as one of the top global strategic and creative thinkers in this important and expanding area. He is also one the most popular speakers around the globe presenting his vibrant and insightful perspective on the future of health innovation. His focus is on guiding companies, NGOs, and governments through the dynamics of exponential change in the health / tech marketplaces. He is also a member of the Google Health Advisory Board, pens HEALTH CRITICAL for Forbes--a top global blog on health & technology and THE DIGITAL SELF for Psychology Today—a leading blog focused on the digital transformation of humanity. He is also on the faculty of Exponential Medicine. John has an established reputation as a vocal advocate for strategic thinking and creativity. He has built his career on the “science of advertising,” a process where strategy and creativity work together for superior marketing. He has also been recognized for his ability to translate difficult medical and scientific concepts into material that can be more easily communicated to consumers, clinicians and scientists. Additionally, John has distinguished himself as a scientific thinker. Earlier in his career, John was a research associate at Harvard Medical School and has co-authored several papers with global thought-leaders in the field of cardiovascular physiology with a focus on acute myocardial infarction, ventricular arrhythmias and sudden cardiac death.

   

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