Volvokoncernens Innovation Lab

We hear more and more about the benefits of innovation labs within companies. The opportunity to ideate, test and prepare new releases for the wider organisation in a structured way is becoming increasingly commonplace, and it’s no different for the team at the Volvo Group Connected Solutions Innovation Lab.

The future is coming, whether we want it to or not. But if we can anticipate it, we can also navigate better. This is why strategic foresight is crucial. Strategic foresight is a systematic and forward-looking approach to understanding, anticipating, and planning the future. It involves the exploration and analysis of potential future scenarios, trends and uncertainties to help organizations and individuals make informed decisions and develop strategies that are resilient and adaptable. As a senior foresight manager at Volvo Group Connected Solutions Innovation Lab, I have been at the forefront of this transformation, driving change and practicing strategic foresight.

Embarking on a two-day journey of innovation and collaboration, the AI in Action Hackathon organized by Volvo Group Connected Solutions, a global organization that leads the development of the Volvo Group's connected services and solutions, proved to be a showcase of brilliance and creativity. This global development and training initiative brought together numerous talented minds, fostering an atmosphere of excitement and energy.

Highlighting Volvo Group's steadfast commitment to open and collaborative innovation, the Volvo Group Connected Solutions Innovation Lab, Silicon Valley recently hosted Volvo employees from around the globe to attend the Plug and Play Winter Summit. The Summit, which presents over 300 startups across 19 industry-focused innovation programs and hosts over 3,000 attendees, serves as a vibrant hub for learning from industry leaders, connecting with startups, and gaining valuable insights into cutting-edge technologies.

The Innovation Lab by Volvo Group in Silicon Valley hosted the 2023 Service Design Summit, a three-day event that brought together a diverse group of designers, portfolio managers, and service development professionals from Volvo Trucks, Mack Trucks, Volvo Trucks North America, and Volvo Group Connected Solutions.

The Smoovit project, initiated in October 2019, has reached its completion after three years. The project united Volvo Group, various companies, educational institutions, government bodies, and authorities to discover new and more environmentally friendly approaches for transporting goods within cities. Smoovit devised a strategy to improve both the environmental impact and efficiency of urban transportation.

Volvo Group is working tirelessly towards being fossil-free by 2040 – and an important part of this commitment is investing in the future through our academic collaborations, which challenge students to provide new perspectives on industry needs. Through these partnerships, we look to provide a springboard for students today to become part of an inspired workforce tomorrow, paving the path with new ways of thinking.

Digitalization and connectivity are enabling new business possibilities in most industries. Developments of digital technologies can be used to change business models, create new business value, providing increased efficiency and saving money and reducing climate impact. The Innovation Lab at Volvo Group discovers, incubates, and accelerates new digital offers and ventures together with partners to create the next horizon of sustainable growth for Volvo Group.

Innovation Rock Stars is a video podcast series about innovation. A virtual stage for real-life stories about innovation, foresight, strategy and growth. Success or failure, opportunities or challenges, growth, or survival – in this series of podcasts, you’ll learn about the journey of the most innovative companies around the globe.

To further Volvo’s journey toward data excellence and a data-driven mindset, the Innovation Lab at Volvo Group hosted the first Volvo Group Data Summit in Mountain View, California in September. The summit brought together data scientists, analysts and business leaders around the globe to discuss how to maximize the value of data created by Volvo assets.