Why do up to 90% of new product launches still fail, even in the age of AI?

In this episode of Consulting the Future, I’m joined by Stuart Jackson, Vice Chair of L.E.K. Consulting and author of Predictable Winners, a new book that distills nearly four decades of innovation strategy into a practical framework for reducing failure rates in product and service development.

Stuart shares the hard truths behind failed innovation efforts, from siloed thinking and unmanaged risk to the myth of the “big idea.” He also reveals what top innovators do differently and how AI is beginning to play a critical role in spotting demand signals, identifying unmet needs, and shaping smarter bets.

We explore:

• Why many great ideas still fail without systems to manage risk across the innovation lifecycle
• How AI is improving forecasting, testing, and early-stage product screening
• The power of external innovation strategies like acquisitions and licensing
• Why speed matters, but discipline matters more
• What established firms can learn from startups without falling for the “fail fast” trap
• Real-world examples from litter robots to autonomous aircraft landings

Whether you're building a startup, leading R&D, or navigating innovation inside a Fortune 500, this episode is packed with grounded insights to help you innovate with more clarity, more precision, and a lot less waste.

If you want to shift from product guesswork to a repeatable innovation strategy, this is the place to start.