Innovation scouting and trend analysis
Scanning and summarizing information from various quality sources can also play an instrumental role in innovation scouting and trend analysis. RAG can help companies identify emerging trends and potential areas for innovation that align with their specialization. This is particularly relevant in fast-evolving industries where staying ahead of the curve is essential for maintaining competitive advantage.
In the technology sector, RAG can analyze patents, tech news, and research publications to identify emerging technologies and innovation patterns. This allows companies to direct their R&D efforts more effectively, focusing on areas with high potential for growth and market disruption.
In the industry I am currently in, the pharmaceutical industry, RAG is being used to expedite the process of identifying new research findings and potential drug development opportunities by constantly analyzing the latest releases from medical journals...