Shifting Budgets from Advertising to Innovation

Innovation can be challenging because new technologies can be interesting, but don't always solve society's problems. Overhyped technologies, such as Virtual Reality (VR) and autonomous vehicles, have received huge marketing budgets but do not yet meet the needs of the majority. Even though VR has real applications in niche industries, it has yet to fill a significant societal need. Innovation must begin by identifying customer needs and expectations, then creating a solution that provides value, not just technology.