Investing in Technology Innovation - How Much is Enough?
In the first viewpoint of this panel, several experts weighed in that the Hospitality Industry does not properly invest in technology innovation. Apple spent about $15 billion in research last year alone… or 5.5% of its annual gross revenue. We ask ourselves these questions: Is this level of investment purely in R&D also necessary in our industry, and is it possible to get that kind of money? What's your take?
CIO MEA and Global Accor Strategic Programs
I don't believe that this is about Billions of dollars or even percentages of revenue. It's about a willingness to change, and unfortunately we are not very good at that. In our industry innovation or R&D does not have to be very technical and therefore does not have to be done by specialists. It should really be part of everyone's job. Innovation can come from anywhere.
In order to think differently and to create a culture of change and creativity we don't need money, we need a culture shift and this requires only one thing; strong leadership!