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If creativity is the wellspring of human development, innovation – the theme of this newsletter - is its economic twin. Uninterrupted progress in applying advances in science and technology, sometimes by leaps and bounds, sometimes in baby steps, is the source of gains in productivity and rising living standards that we take for granted. Think of the horizons opened up in recent years by the advent of the personal computer, the internet, the smartphone.
Innovation may be A Good Thing, but making the most of it is easier said than done. We believe that successful innovation cannot be dissociated from an organisation’s business model. Building on that insight, we lay out the five questions we always put to clients seeking to innovate. How, for instance, does innovation fit with the economics and culture of their organisation? A related article also emphasises the need to go back to basics when considering how to deploy artificial intelligence, society’s next Big Innovation, which is already grabbing the public imagination thanks to ChatGPT. Our advice? Work out what you want to use it for, learn by testing, and develop in-house AI guidelines.
In another pair of articles we dive into the role innovation can and must play in achieving net-zero carbon emissions.
Our work in this field shows that innovation can help transform energy systems and reduce the cost of decarbonisation – as demonstrated by rapid technological advances in ever-cheaper renewables. We also look at data policy, a neglected aspect of the fight against climate change, and argue that the systematic application of innovative economic principles and tools could promote more sustainable data usage.
Finally, we explore how high levels of innovation and technological change are posing new challenges for competition authorities, which are generally ill-equipped to evaluate mergers of firms in fast-evolving markets. We argue that they could develop new tools to sharpen their assessment of such tie-ups without either distorting the competitive playing field or stifling innovation.
Team thoughts
![Kalina Kasprzyk.jpg](/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=100&height=56&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 100w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=200&height=112&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 200w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=300&height=169&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 300w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=400&height=225&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 400w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=500&height=281&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 500w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=600&height=338&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 600w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=700&height=394&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 700w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=800&height=450&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 800w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=900&height=506&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 900w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1000&height=562&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1000w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1100&height=619&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1100w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1200&height=675&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1200w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1300&height=731&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1300w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1400&height=788&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1400w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1500&height=844&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1500w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1600&height=900&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1600w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1700&height=956&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1700w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1800&height=1012&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1800w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=1900&height=1069&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 1900w,/media/azsj13rd/kalina.jpg?cc=0.28796535200884654%2C0.10174775770979246%2C0.13610394397346043%2C0.412310710775279&width=2000&height=1125&format=webp&quality=90&autoorient=true&sourceWidth=5616&sourceHeight=3744&rnd=133657201874400000 2000w)
![Stephen Heal_01W.jpg](/media/pqrdd0n4/stephen-heal_01w.jpg?width=100&height=56&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 100w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=200&height=112&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 200w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=300&height=169&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 300w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=400&height=225&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 400w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=500&height=281&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 500w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=600&height=338&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 600w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=700&height=394&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 700w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=800&height=450&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 800w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=900&height=506&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 900w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1000&height=562&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1000w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1100&height=619&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1100w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1200&height=675&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1200w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1300&height=731&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1300w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1400&height=788&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1400w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1500&height=844&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1500w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1600&height=900&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1600w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1700&height=956&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1700w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1800&height=1012&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1800w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=1900&height=1069&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 1900w,/media/pqrdd0n4/stephen-heal_01w.jpg?width=2000&height=1125&format=webp&quality=90&autoorient=true&sourceWidth=4000&sourceHeight=2667&rnd=133657199905230000 2000w)
![Maria Paula Torres_03W.jpg](/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=100&height=56&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 100w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=200&height=112&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 200w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=300&height=169&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 300w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=400&height=225&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 400w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=500&height=281&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 500w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=600&height=338&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 600w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=700&height=394&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 700w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=800&height=450&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 800w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=900&height=506&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 900w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1000&height=562&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1000w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1100&height=619&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1100w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1200&height=675&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1200w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1300&height=731&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1300w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1400&height=788&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1400w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1500&height=844&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1500w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1600&height=900&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1600w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1700&height=956&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1700w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1800&height=1012&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1800w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=1900&height=1069&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 1900w,/media/ebilnxrw/maria-paula-torres_03w.jpg?cc=0.0%2C0.033336667000033342%2C0.0%2C0.12282894956162274&width=2000&height=1125&format=webp&quality=90&autoorient=true&sourceWidth=5000&sourceHeight=3333&rnd=133657199987130000 2000w)
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Innovation award launches at Frontier
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