What is innovation?
Innovation is the creation and application of new ideas, technologies or processes that add value, improve efficiency, enhance the customer experience or open up new business opportunities. At Telefónica, this translates into the development of digital solutions based on artificial intelligence, blockchain, programmable networks and emerging technologies such as Web3, the metaverse and quantum computing.
What are its key characteristics?
- Applied creativity: transforming ideas into useful solutions.
- User focus: solving real needs of customers or society.
- Technological disruption: use of advanced technologies such as AI, 5G networks or open APIs.
- Scalability: ability to extend impact across multiple markets or sectors.
- Collaboration: innovation ecosystems with start-ups, technology partners and developers.
Why is it important for businesses?
For businesses, innovation is essential for competitiveness, efficiency and sustainability. It allows them to anticipate market changes, offer differentiated products and services, and optimise internal processes. At Telefónica, it is key to evolving from a traditional operator to a provider of comprehensive digital solutions.
And for society as a whole?
Innovation drives economic development, improves quality of life, promotes digital inclusion and responds to global challenges such as sustainability, health and education. Telefónica, for example, facilitates a more connected, secure and efficient society through advanced digital infrastructures.
What are the benefits?
- Process improvement and cost reduction.
- New business models.
- Greater customer loyalty.
- Generation of high-value employment.
- Contribution to sustainable development goals (SDGs).
What types of innovation are there?
- Technological innovation. Development of new technologies (AI, blockchain, 5G).
- Product or service innovation. New digital solutions such as Open Gateway APIs.
- Organisational innovation. New forms of internal management and agile collaboration.
- Business model innovation. Such as the transition from a traditional telco to a global digital company.
What are some specific examples of recent innovation?
- Telefónica Digital Innovation develops network solutions exposed through global standard APIs (Open Gateway).
- Application of AI in networks to increase their autonomy and efficiency.
- Promotion of Web3 and the metaverse as new forms of digital interaction.
