This paper explores artificial intelligence's (AI) transformative effect on innovation across various industries. It defines innovation as a socio-technical solution addressing human needs, examining how AI enhances each stage of the innovation process (problem understanding, solution generation, evaluation, and adaptation). The authors analyse AI's dual role as an enabler of incremental improvements and a catalyst for radical change, considering scenarios ranging from AI as an assistant to a fully autonomous innovator. Challenges like data bias and ethical concerns are discussed, alongside policy recommendations for responsible AI integration. Finally, the authors outline directions for future research into AI's multifaceted impact.

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