Sharing Best Practices In Innovation Strategy Implementation

Banks talk about innovation. But how many actually execute it? For years, I've seen banks struggle to turn innovation into action. They know they need to evolve, but the roadblocks are everywhere: 🚧 Fear of fintech competition: Instead of seeing fintechs as enablers, they see them as threats. 🚧 Overcomplicated pilots: Too many internal hurdles stall momentum before innovation can even take off. 🚧 Lack of clear success metrics: Without defined KPIs, how do you know if your innovation efforts are working? But here is the truth: Innovation isn't just a project - it's a *strategy* Thats why I created the Banking Innovation Roadmap - a simple, tactical framework to help banks move from concept to market leadership. This isn't about adding another buzzword to your strategy - it's about real execution. A strategic approach to innovation includes 👇 ✅ Discovery & Roadmapping: Understanding your bank's goals and aligning innovation to real business outcomes. ✅ Proof of Concept Development: Testing real solutions with fintech partners in a way that's controlled and measurable. ✅ Strategic Partnerships: Banks, fintechs, and organizations like FIS coming together to create new solutions that don't exist today (ahem, FIS + Affirm collab!) ✅ Modernization & Open Banking: Without the right infrastructure, innovation can't scale. ✅ Market Insights & Thought Leadership: Staying ahead of trends and leveraging industry expertise to guide decision-making. The banks that succeed don't wait for innovation to happen - they structure it, measure it, and operationalize it. I'll be diving more into this framework as I continue to iterate it. Most importantly: I WANT TO HEAR FROM YOU! Am I missing anything? What's the biggest roadblock you see when banks try to innovate? Drop your thoughts in the comments! #bankinginnovation #fintech #innovationstrategy

Best and Worst Practices: GenAI Strategy and Implementation Since 2015, I’ve been immersed in the world of AI, representing the world’s largest law firm, speaking on AI Ethics for the ABA, founding a GenAI company in 2022 aimed at improving critical thinking, and teaching AI Ethics at UC Berkeley. I’ve spoken with hundreds of CEOs in 15 countries and analyzed nearly every major GenAI study over the past five years. Top 5 Mistakes Companies Make 1. Rushing Under Pressure CEOs, driven by board pressure, launch GenAI initiatives without a clear strategy, creating misalignment 2. Delegating to IT When GenAI is seen purely as a technical tool, IT leads often default to pilots and vendor solutions (often Microsoft-based), missing strategic and cultural integration. 3. Over-Reliance on Consultants Consultants often offer predictable playbooks, task automation, short-term cost savings that fail to drive lasting value. 4. Ineffective Pilots Many companies spend $3–5 million on slide shows and pilots that statistically fail 70–85% of of the time.¹ 5. AI-First Announcements Companies issue AI-focused press releases to signal innovation while lacking a a real plan Top 5 Best Practices 1. CEO-Led Initiatives The most successful GenAI transformations are led directly by CEOs who recognize the need to lead from the front² 2. Strategic and Cultural Shift Effective leaders see GenAI not as a tech project, but as a communications and organizational challenge that demands alignment from top to bottom.³ 3. Inclusive, Cross-Functional Engagement By involving legal, compliance, operations, and frontline teams from the outset, successful companies create a shared sense of purpose and resilience against resistance.⁴ 4. Preserving Customer and Brand Integrity Visionary companies avoid placing bots between their organization and its most valuable assets, customers and brand reputation. 5. Holistic Transformation Winning strategies integrate GenAI/ML into open-source, multi-LLM hybrid platforms that unify ecosystems, refine structured and unstructured data, not just to cut costs, but to drive revenue, and enable long-term advantage. Leadership. First Principles. Cross-Functional Inclusion. Technology as a platform. A combined automation and augmentation approach. And aggressive CEO communications and thought leadership. Generative AI doesn’t need to be a fear-driven event. Done right, it’s an opportunity to put the organization first and set a foundation for long-term success. ******************************************************************************** The trick with technology is to avoid spreading darkness at the speed of light Stephen Klein is Founder & CEO of Curiouser.AI, the only Generative AI platform and advisory focused on augmenting human intelligence through strategic coaching, reflection, and values-based decision-making. He also teaches AI Ethics at UC Berkeley. Learn more at curiouser.ai or connect via Hubble https://lnkd.in/gphSPv_e

Planning something new? Clients of the Umbrex Innovation Practice asked us to compile a set of tools, frameworks, and templates needed to drive innovation from ideation to execution. The result is the Corporative Innovation Playbook. Whether you’re launching a centralized innovation hub, deploying design thinking at scale, or building an ecosystem of startup partners, this guide provides a comprehensive, step-by-step roadmap. Learn how to structure innovation governance, fund portfolios, build capabilities, and scale impactful initiatives—while avoiding common pitfalls and aligning with enterprise strategy. Table of Contents: Chapter 1. Foundation and Context 1.1 Purpose and Scope of the Playbook 1.2 Definitions and Taxonomy of Innovation Types 1.3 The Innovation Imperative in Corporations 1.4 Common Barriers to Innovation 1.5 Quick‑Start Assessment Checklist Chapter 2. Innovation Strategy and Governance 2.1 Aligning Innovation with Corporate Strategy 2.2 Setting Innovation Ambition and Goals 2.3 Governance Structures and Decision Rights 2.4 Strategy Development Step‑by‑Step Guide 2.5 Governance Charter Template 2.6 Executive Steering Committee Checklist Chapter 3. Portfolio Management and Funding 3.1 Portfolio Segmentation Framework (Core, Adjacent, Transformational) 3.2 Stage‑Gate vs. Venture Portfolio Approaches 3.3 Funding Models and Budget Allocation Methods 3.4 Portfolio Management Step‑by‑Step Guide 3.5 Investment Committee Checklist 3.6 Portfolio Dashboard Template Chapter 4. Culture and Leadership 4.1 Attributes of an Innovative Culture 4.2 Leadership Behaviors that Enable Innovation 4.3 Incentives and Recognition Systems 4.4 Culture Diagnostic Checklist 4.5 Leadership Activation Step‑by‑Step Guide Chapter 5 . Innovation Operating Model 5.1 Organizing for Innovation: Centralized, Hub‑and‑Spoke, Dual 5.2 Roles and Responsibilities Matrix 5.3 Process Governance and Stage Definitions 5.4 Operating Model Design Step‑by‑Step Guide 5.5 RACI Template Chapter 6. Ideation and Opportunity Discovery [abridged due to character limit] Chapter 7. Concept Development and Validation Chapter 8. Incubation and Experimentation Chapter 9. Acceleration and Scaling Chapter 10. Open Innovation and Ecosystem Partnerships Chapter 11. Corporate Venture Capital and M&A for Innovation Chapter 12. Technology and Digital Innovation Chapter 13. Metrics, KPIs, and Performance Management Chapter 14. Risk, Compliance, and Intellectual Property Chapter 15. Talent, Skills, and Capability Building Chapter 16. Infrastructure, Tools, and Platforms Chapter 17 . Communication, Change Management, and Stakeholder Engagement Chapter 18. Continuous Improvement and Innovation Maturity Chapter 19. Implementation Roadmaps and Templates