JAY HOOLEY: Coping with the relentless pace of technological change is challenging organizations more than ever. One way companies can keep up with advances in technology and data science is by creating partnerships with academia.
Universities are expanding their computer-science and data-management curricula, with new majors popping up in data science, information security, applied analytics and more. With a rigor for problem solving and innovative thinking, academia can provide an outside-in view of the challenges businesses are working to solve. Tapping into this knowledge base offers immense benefits for companies looking to identify practical applications for technology.
From the student perspective, businesses can contribute real-world problems that don’t come with clear instructions or boundaries. Students learn that formulating a problem correctly is sometimes tougher than developing the mechanics of a solution.
The tangible benefits of these partnerships for businesses include increased access to the limited pool of highly skilled talent. The search for talent presents companies across industries with an increasingly tough hurdle. By creating partnerships with academic institutions, businesses can place themselves in front of the next generation of technology workers. By working with faculty and students across different fields of study, companies expand awareness of their business and skill requirements–and help students build the right capabilities to meet those needs.
Companies also gain valuable perspectives from beyond their organization or industry–perspectives that help them question existing assumptions and explore new solutions.
Innovation, by definition, requires creative thinking. Working with the academic community provides fresh perspectives that help push companies to explore solutions to difficult problems they might not discover on their own. That’s a great way to unlock new potential that can speed technological innovation.
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