-NotedSource Insights Team

Technology & Innovation

In the fast-evolving world of artificial intelligence and innovation, countries around the world are reaching new milestones in innovation and technology.

Trend Spotlight: Recent assessments by the Global Innovation Index, published by the World Intellectual Property Organization (WIPO), rank the United States third, with Switzerland taking the top spot. This index defines innovation broadly, including “outputs” like patents, scientific publications, and high-tech exports, as well as “inputs” such as spending on research and development, the number of engineering graduates, and venture capital deals. These indicators are adjusted based on each country’s population or GDP, which is why Switzerland surpasses the United States on a per capita basis. Over the past five years, the fastest climbers have been Indonesia, Mauritius, Saudi Arabia, Qatar, Brazil and Pakistan. Other notable rankings include India at 39th and China at 11th overall.

Key Insight: While innovative new technologies and inventions continue to emerge, we’re witnessing a shift with a slight decline in scientific publications and international patent filings. However, R&D investments by the world’s largest corporations grew by 6% in 2023, reflecting a strong commitment to innovation. Technology and innovation are advancing globally, fostering increased collaboration and new opportunities for growth.

AI Development and Discovery

Two pioneering AI scientists won the 2024 Nobel Prize in Physics, recognizing their work that laid the foundation for today’s advanced machine learning technologies.

Trend Spotlight: John J. Hopfield from Princeton University and Geoffrey E. Hinton from the University of Toronto received the Nobel Prize in Physics, highlighting their influential contributions to machine learning. Hopfield developed a network capable of storing and reconstructing images and other patterns in data. Hinton, often called the godfather of AI, built on Hopfield’s work and spearheaded the development of machine learning, focusing on identifying patterns in data and performing tasks such as recognizing specific elements in images. These advancements have been crucial in the development of large artificial networks used in modern machine learning. 

Key Insight: AI and machine learning technology has evolved over the years with early founders, with recent popularity due to ChatGPT. These researchers have changed the landscape of technology, forever, creating easier and smarter opportunities for innovation. Today, AI drives quicker and more efficient innovation across industries worldwide.

Why Research Teams Should Rethink RFPs: A Case for R&D Expert Networks

When looking for external expertise to fuel innovation, R&D teams have traditionally turned to Request for Proposal (RFP) platforms. These platforms allow companies to post a research or technical challenges and wait for a large enough network of experts to apply or submit proposals. Some benefits include that companies can demonstrate the innovation taking place within their organization. This approach mirrors job boards like LinkedIn or Indeed but when it comes to niche, but when it comes to specialized expertise or research needs, they either take too long or don’t find the right people.

Expert networks on the other hand are designed to proactively scout the expertise. However, virtually all expert networks are geared towards market and business professionals as opposed to research. In some cases, like NotedSource, you can find both experts and technology. Below are some of the pros and cons of the RFP-submission model vs a targeted expert research network.

Benefits of the Open-Challenge, RFP Model

Some examples of companies that use the RFP model include Yet2 and Innoget. These are fairly inexpensive and are great marketing tools.

• Ease of Posting and Wide Reach: Similar to posting a job opening on LinkedIn or Indeed, RFP job boards allow companies to publicly share their research challenges and wait for applications. This model theoretically offers a broad reach as they’re generally open and searchable by anyone.

• Time-Efficient for Less Specialized Needs: If your research challenge is relatively common or spans a general area of expertise, RFP job boards are an efficient way to source multiple solutions or approaches from a variety of experts. This can result in a large volume of responses, giving your team different perspectives and potential pathways to solve your problem.

• Competitive Bidding for the Best Price: One of the draws of the RFP process is the potential for competitive bidding. By putting out a public call for research proposals, companies may be able to negotiate better rates or find cost-effective solutions from emerging experts.

The Pitfall of Waiting for the Right Applicant

However, while RFP platforms cast a wide net, they often fall short when your research problem is niche or requires specialized expertise, or you need the job done or the answers quickly. Similar to a LinkedIn job board, there may be thousands of qualified candidates, but you may be looking for that one person with the right qualifications who is also actively seeking a job at the moment you need them. This leads to a potential mismatch in timing and expertise.

For niche research challenges, you may find yourself in a similar situation. If there are only a handful of experts in the world who are truly capable of solving your problem, they may not be actively looking where you posted your RFP or be available to respond to your post. This leads to longer wait times, uncertainty, and the risk of your challenge going unanswered.

Why a Research Expert Network Like NotedSource Is the Better Solution

• Proactive Matching vs. Waiting for Applicants Rather than waiting for the right expert to stumble upon your research challenge, NotedSource uses proactive matching to connect R&D teams directly with the most relevant experts and technologies. The platform doesn’t rely on experts looking for projects, but rather seeks them out based on your needs. This is especially critical when you’re dealing with highly specialized fields where only a handful of people globally might have the expertise required.

• More Targeted and Immediate Solutions NotedSource’s curated network of researchers ensures that your project is matched with a researcher who has direct, hands-on experience in the field. Unlike RFP platforms, where the quality and relevance of responses can vary, NotedSource identifies and vets experts to ensure they meet the specific technical and scientific requirements of your research challenge.

• Personalized Collaboration, Not Just a Transaction While RFP platforms often facilitate one-off transactions based on a posted challenge, NotedSource focuses on fostering deeper, ongoing collaboration. The platform allows R&D teams to work closely with experts over time, refining solutions and innovating continuously rather than completing a single task. This model is more conducive to long-term success, as it allows for iterative problem-solving and ongoing feedback.

• Access to Niche Expertise You Won’t Find Elsewhere In research, it’s not about finding hundreds of candidates—it’s about finding the right person or technology with the exact expertise to solve your challenge. NotedSource’s global network of experts spans a wide range of fields, many of which are niche or interdisciplinary. The platform’s proactive outreach ensures that even if the expert you need isn’t actively seeking projects, they can still be brought on board to help solve your specific research challenge.

• More Control and Confidentiality Unlike RFP platforms, where your challenge is posted publicly for many potential respondents to view, NotedSource offers a more private and controlled environment. This is particularly important when dealing with proprietary research, intellectual property, or sensitive projects that require discretion.

As R&D teams strive for faster innovation and more effective problem-solving, it's clear that traditional RFP platforms, while useful in certain contexts, often fall short when specialized expertise and deeper collaboration are needed. Also, when a research project needs to be done quickly. Platforms like NotedSource offer a proactive, targeted solution that provides faster access to the right solutions, fosters long-term partnerships, and ensures greater confidentiality and IP control. By shifting from reactive, one-off project bidding to a more customized and collaborative approach, research teams can unlock more innovation potential and tackle their most complex challenges with confidence.

If you're ready to move beyond RFP platforms and embrace a smarter way to source expertise and technology, it’s time to consider the advantages of a research expert network like NotedSource. Whether you're solving niche research problems or aiming to build lasting collaborations, NotedSource ensures you’re connected to the best possible expertise—quickly, securely, and effectively.

NotedSource Feature Spotlight

We are headed to Innolead’s Impact Conference October 23-25, 2024!

Explore how AI reshapes innovation for large organizations—how they approach experimentation, the partnerships they seek, and their methods for driving growth. 

Join an extraordinary group of Innovation, Transformation, Digital and Emerging Technology executives from all sectors to share their experiences, and to lead interactive conversations with participants. PowerPoints are banned at Impact, so our unconference format is a great forum for safe, off-the-record sharing of your own experiences, challenges and learnings.