Predictive AI has been integral to innovation management for a long time in different areas, particularly trend and pattern recognition. Adding other types of AI to the mix creates new opportunities for innovation leaders. GenAI’s creative and agentic orchestration capabilities suggest a smarter, faster, and largely automated innovation lifecycle — one that is moving from promise to reality. While high-innovation, low-regulation industries lead, AI-powered innovation is also being used for highly complex and sensitive use cases. We show how AI reshapes the innovation process, with examples of how companies use it to bring new products to market more quickly and efficiently.