If a healthcare technology can survive in a commercial environment then that goes a long way to demonstrating that translation is viable, as it means that what you have is valuable enough for someone to want to pay for it.
And do you have any other advice, what have been the greatest challenges and highlights of your own career so far? A real long-term highlight of my career is being associated with two areas of MRI research that have turned into areas of massive research growth and clinical adoption - diffusion MRI and dynamic contrast-enhanced MRI.
While I certainly can't claim to have invented or launched either field far from it! I have made substantial contributions, which is very satisfying. A current area of focus for me is a method known as oxygen-enhanced MRI, which has attractive applications in a number of disease settings. It is too soon to know if this will have similar long-term impact, but it is exciting to be at the leading edge of this emerging area.
My biggest challenge has always been to stop myself from spreading myself too thinly. I have a magpie-like attraction to new ideas and find it hard not to get involved in interesting new research directions.
This has served me very well on many occasions, but it has also tended to lead to too many late nights keeping up with commitments. The advanced imaging techniques that you work on are applied to many different disease conditions, but how does this research actually get used and impact patients? The outputs of our research get used in a couple of ways.
New imaging methods are eventually adopted for use in hospitals to improve patient diagnosis and monitoring. A good example of this is the use of MRI methods to screen for certain types of breast cancer.
Additionally, new imaging methods, particularly quantitative methods, are used by drug companies to provide early, non-invasive, and sensitive readouts regarding the impact of their new drugs. A good example of this is the use of MRI methods to detect treatment effects in rheumatoid arthritis, or new methods used to detect subtle alterations in the brain's blood supply.
This sort of use tends to happen at an earlier stage than clinical use. Finally, where do you see your field being in ten years, in terms of scientific developments and advancements? That is a genuinely difficult question to answer for such a broad area! At a very general level, the area will need to be alert to the relentless requirement for cost-effective healthcare provision, which can be challenging for a field that historically has often been associated with expensive bits of kit.
Traditional firms with relatively stable supply-chain do not pivot as quickly as a platform company could. When they have their supply or demand side disrupted, it is more difficult to navigate where to start addressing the problems. Platforms enable working with a broader set of ecosystem partners on both the supply and demand side. The digital platform provides a better overview of solution pathways.
There are numerous reasons for the high failure rate of digital transformation and platformization of companies. The metrics typically used to evaluate digital transformation initiatives in non-platform businesses are derived from standard linear models and practices that historically do not have a high success rate.
Before these initiatives reach the scale or growth they need to succeed, the traditional metrics and initiatives shut down. Communicating the importance of this transformation to the organization helps align initiatives.
The inverted firm is achieved by shifting the production from inside the company to its ecosystem partners. Network effects cannot occur internally and within standalone companies, but it becomes easier if companies look within their business frame in the ecosystem.
If companies start organizing towards shared value, then the deep-rooted system could be addressed while benefiting multiple players. An open system allows for more opportunities and orchestration to innovate and solve problems.
And a lot of that is going to be this end-to-end digital kind of visibility. Companies that leverage platform thinking and ecosystem partners are more resilient and adaptable in this economy because they are used in scalable business models.
Strategy today is not just about finding out where to play and how to win. Making an impact with agility and leverag ing the shared interests of your ecosystem bolsters dominat ing the field.
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