Episode 2: The Innovation Crossroads
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Introduction
Episode 2 of the LexisNexis Evolving IP podcast features Olivia Koentjoro, Head of Global Legal Data Analytics at Applied Materials.
Olivia joins us to discuss the challenges and opportunities of successfully leveraging IP data. We explore how data alone holds little value without context, and how analytics can bridge the gap, transforming IP data into a powerful business tool that can drive innovation.
Podcast Host
- Francesca Levoir, Head of Brand Strategy and Solutions Marketing
Podcast Co-Host
- Nigel Swycher, CEO LexisNexis Cipher
Conversation Highlights
On how IP can bring value to the business
“Data is factual and without context has little value. You need to overlay business information onto the data to give it its context and this is where analytics comes in, to transform the IP data and commercial intelligence.
“For each project, you need to identify the right metric that aligns to the business objective. Once you do this, you can then determine the specific data and analytics methods required to track and analyze the metrics effectively.
“If you don’t constantly do methodology development, then your baseline capabilities stay at a certain level.
The importance of communication
“Sometimes it is a long journey to get there, to get your stakeholders to understand what you do.
“As we onboard new capabilities, you do have to refresh that communication with your stakeholders, so that they also understand what the new capabilities are.
“If your management understands what the data is trying to tell you, they can make the best-informed decision.“
On improving diversity in the innovation space
“In the high-tech industry, innovation equals your economic potential and your survival. So, there’s really no choice, you have to create that ecosystem of equality, where you give all your best talent equal chance to grow and succeed.
“In order to increase the underrepresentation of women, particularly in leadership, I think we need to shift the critical markers for leadership and success, from confidence to competence.
“DEI is a journey. And it’s a constant work in progress, where the dominant group actually can shift according to your industry, your region, your demographic. So, if you’re part of a multi-generational workforce, and a multinational organization, you need to understand that each region or demographic has specific challenges, so that one global strategy may not just work for everything.”
How has AI created value for your team?
“We’re all asked to do more with less. And I think AI is that opportunity that allows us to do less with less.
“This is not the scary story where AI will replace the analyst or the legal professional’s job. I do believe that at the end of the day, AI is just a tool. But it is those people that do not use AI, they will be replaced by those people that do.
“I do think that companies and management, they need to be given this holistic picture of AI. It should encompass the limitations, the benefits, the opportunities, the risks. So, the good, the bad, the ugly of AI essentially. You shouldn’t just tell one side of the story.”
Olivia’s Key Takeaway
“If it’s a one-liner, it is that IP is a business tool.
“I would obviously love to have the total integration of analytics into the business and innovation. But the challenge there is how do you deliver value and commercial intelligence in a way that resonates with the business and therefore enhances the decision-making process.
“So, this involves analyzing the IP data with the context around the business objectives, identifying metrics that align with the organizational need, and utilizing innovative analytics and the latest technology to derive those actionable insights and ultimately communicate the insight in the language of the business. ”
Nigel’s Key Takeaway
“The insights that your team extract from patent data inform the business, not on whether to file for more patents, but to shape the innovation and technology strategy of the group. This takes patents away from simply being a legal right, to a source of intelligence around who’s doing what and how.
“Applied Materials have boosted this capability by harnessing the very best of AI and machine learning, to put legal analytics at the crossroads of business, technology, and the law. But don’t be misled into thinking that it’s the technology that adds the value. The power is in the storytelling.”