Welcome back to another enlightening episode of The Innovation Series, where host Mike Kelly had the pleasure of hosting David Wong, the Executive Director of Innovation and New Growth at CME Group. This episode offers a comprehensive exploration of the innovation practices that drive successful product development.

David begins the conversation by giving listeners a glimpse into his role at CME Group, where he leads the innovation lab. His responsibilities include steering the company’s focus towards exploring new territories such as bitcoin and blockchain, as well as addressing complex internal challenges. The discussion illustrates how strategic innovation not only pursues new growth but also adds substantial value to an established corporation.

In a strategic departure from traditional brainstorming methods, David introduces the concept of brainwriting. This technique promotes an independent ideation process followed by collective synthesis, facilitating a wider array of thought and minimizing the pressure often associated with group brainstorming sessions. Interested listeners can find a detailed video on this inventive method linked in the show notes.

David also emphasizes the critical trifecta of innovation: desirability, feasibility, and viability. He highlights the importance of prioritizing customer desirability to ensure that innovations address true consumer needs before delving into technical feasibility and financial viability.

Join us again for more insightful conversations here on The Innovation Series, where we explore the edges of innovation and strategy.

In This Episode

• Innovation Lab: Emphasis on the lab’s role in developing new financial products, technology challenges, and fostering organizational collaboration
• Innovation in Practice at CME Group
• Movement from critiquing to generating ideas and shifting from "no but" to "yes and" in discussions.
• Introduction to brainwriting and its advantages over traditional brainstorming.
• Usage of divergent thinking prompts to foster creativity.
• Championing transformative thinking and value optimization
• Innovation Fundamentals: Desirability, Feasibility, and Viability

Connect with David Wong
David Wong is a dynamic leader known for his expertise in innovation, strategy, and navigating uncertainty. Passionate about unlocking potential, he thrives on guiding leaders and teams in his organization towards breakthrough insights and accelerated actions in complex opportunity areas. At CME Group, the world's leading derivatives marketplace, David founded the Innovation & Acceleration Lab in 2014 and most recently leads CME Group's co-innovation partnership with Google Cloud.  Leveraging his diverse capabilities, he drives forward-thinking initiatives that create value for customers and propel organizational growth.

LinkedIn - David Wong
Article: Shifting Into Innovation Gear
Northwestern Kellogg Video on Brainwrit

Connect with DeveloperTown
DeveloperTown is a multi-faceted software consultancy for today’s IT and Business Leaders. They create world-class digital experiences to help businesses succeed in a competitive digital world.
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