Shaping the future through developing and managing breakthrough innovations: A new conceptual framework

Abstract

Breakthrough innovations and technologies have gained increasing attention and have the potential to contribute to the development of a better society. Important breakthrough innovations and emerging technologies include fifth generation (5G) telecommunications technologies, artificial intelligence (AI), internet of things, digital platforms and businesses, autonomous vehicles, blockchain, e-payment/e-commerce technologies, and renewable energies. By reviewing recent papers published in Technological Forecasting and Social Change, this study proposes a novel conceptual framework for the development and design of such breakthrough technologies. There are three levels in this pyramidal framework: (i) exploring and identifying breakthrough innovations and emerging technologies; (ii) analyzing and managing breakthrough technological innovations and their innovation ecosystems; (iii) synthesizing and strategizing breakthrough innovations such as through digital platforms and businesses. This study makes two important contributions. First, by reviewing a set of coherent studies that shed light on the theoretical and empirical boundaries of research and knowledge in this area, this study pushes these boundaries with the goal of advancing the development and management of breakthrough innovations. Second, this study proposes a novel, integrative conceptual framework which encompasses different levels of activities associated with breakthrough innovations which could help develop and manage breakthrough innovations for the society of tomorrow.