Unlocking Innovation Potential: Arthur D. Little’s benchmark report unveils the path to a 30% boost in R&D returns

Unlocking Innovation Potential: Arthur D. Little’s benchmark report unveils the path to a 30% boost in R&D returns

Dubai, UAE: Arthur D. Little (ADL the leading management consultancy firm) launched its 2023 Global Innovation Management Excellence Benchmark Report, which highlights that of the $2 trillion per year that companies invest in R&D, financial returns from innovation have fallen across sectors since 2012. Companies report a 33 percent drop in satisfaction with their innovation performance over the same period.

ADL’s research into the practices of innovation excellence, running now for over 25 years, allows companies to anonymously rank and profile themselves on their innovation performance versus their peers. The result is new and calibrated insight into the key areas that can often dramatically increase their innovation performance. Businesses that overcome the main R&D pitfalls and develop strong innovation management practices stand to benefit, on average, from a 30 percent boost in return on R&D investment.

Ben Thuriaux-Alemán, Partner at Arthur D. Little, said: “In the GCC, there is a significant drive to diversify economies and move towards innovation-driven growth. Although Innovation Management capabilities have improved in recent years, they have not always kept up with international best practices. Better practices in applying new technologies and using technology scanning could be leveraged by GCC firms. In addition, both entities and corporates could