The Fast Company Innovation Festival brought together thought leaders and innovators to share insights on brand building, negotiation, AI, and more. 🚀✨💻 This year's event emphasized how businesses can evolve, adapt, and thrive amidst rapid technological advancements. Below are the key lessons from the sessions.

💡 Embrace what makes your brand unique!

M.Z. Wallace's story stood out for its focus on product-first growth. In the early days, a buyer told the founders that M.Z. Wallace didn’t fit a store’s aesthetic, and the duo saw the line’s unique qualities as a strength. By staying product-focused, listening to customer needs, and innovating based on feedback, they evolved.

M.Z. Wallace uses their brand as a way to promote important causes, connect with their customers, and interact with art. When the founders heard from a customer that ballerinas were using their totes, they worked with ballerinas to create “the perfect ballet bag” that fit their needs. Their approach highlights the importance of creative adaptability and purpose-driven branding.

💡 Learn the art of negotiation

Negotiation is more than a transaction; it's an art. Key takeaways include:

Mindset matters – Enter conversations with high energy.
Stay unemotional – It’s business, not personal.
Define your three goals – Your ideal outcome, a win-win, and your non-negotiables.
Prepare before you negotiate – Understand your angles and listen actively.
Control the narrative – Don’t let others set the price; justify it with a story.

💡 You must consider AI to be innovative

As Microsoft approaches its 50th anniversary, leaders acknowledged AI’s growing role, despite its mysteries even to tech experts. Several speakers alluded to the message that those who don’t learn about AI now will ultimately be left behind. We learned that:

AI is now deeply embedded in daily tasks, like email prioritization, and its applications are rapidly evolving.
It’s crucial for companies to foster a learning mindset to harness AI’s potential and ensure data integrity. AI is revolutionizing healthcare, and the medical field sees a near future where surgery is less invasive.
IBM’s Garage Experience is a fascinating use of AI for brainstorm development. The tool supports team members by taking their many ideas for campaigns or events (like the U.S. Open), and turning these ideas into actionable product roadmaps using specific enterprise data or prior case studies.

💡 Use wearables as a tool, not a solution

Wearables like WHOOP, which combines health data with AI insights, show how technology is transforming personal health management. WHOOP has a recently developed chat tool built on ChatGPT that pulls a user’s health data in to help share advice in specific situations (for example- making up for a bad night of sleep). However, wearables are only effective if the user makes actionable steps towards their goals. Wearables are there to support you in making educated decisions about your health, but it’s on you to take the next step!

💡 Think about security

As AI grows, so do concerns about security. Companies need clear AI principles, ethics teams, and robust policies. The biggest challenge is finding ways to make people care about security and get them engaged with the topic. Refer back to your security fundamentals, make sure you know exactly where your data resides, and take a moment to ensure you have the right policies and protections in place.

💡 You don’t need to be a perfectionist to be an effective storyteller (Thanks, Ryan Reynolds!)

We learned a lot from Ryan Reynolds on leadership and storytelling. Reynolds’ advice was simple but impactful: optimism lifts everyone, and it’s okay to not have all the answers. Focus on storytelling over perfectionism, and don’t hesitate to release work—even if it’s not flawless—because growth comes from iteration.

💡 Promote change and innovation

Companies cannot embrace nor create change when their employees are drowning in work. Lisa Bodell, CEO of FutureThink, discussed how AI can alleviate workloads, allowing that much-needed space for innovation. It’s time to rethink the way things have been done historically, and create opportunities for growth and change. AI is a wonderful tool to help individuals and companies to brainstorm and find more efficient and effective processes.

We’re seeing a movement towards organizational cultures that mandate “thinking time,” set capacity limits, and allow for deep work through initiatives like “Freestyle Fridays.” When it comes to creating change in the workplace, leaders must model this behavior in order for it to work.

Ultimately, the Fast Company Innovation Festival underscored that the future of business is driven by thoughtful innovation, collaboration, and a willingness to challenge the status quo. We are grateful to have participated in this week’s festivities, and hope the lessons learned will help to shape our company, among the many other top workplaces, as we navigate an increasingly dynamic world.

DID YOU KNOW?

Fast Company has named Quantious a finalist on its 2024 Best Workplaces for Innovators list, recognizing us as a top Workplace for Women Innovators. We're proud of our team’s dedication, creativity, and drive to deliver impactful solutions for our clients—whether it’s finding efficiencies, embracing emerging technologies, or reimagining marketing strategies. 🌟

Read the entire release: https://www.prnewswire.com/news-releases/quantious-recognized-on-fast-companys-list-of-the-best-workplaces-for-innovators-302246062.html?tc=eml_cleartime

The Quantious Team’s Key Takeaways from Fast Company Innovation Festival 2024