April 18, 2015

“Who is the inventor of the iPhone?” Rustom K. Mody asked. “Steve Jobs is not the inventor. He is the innovator.”

Knowing the difference between invention and innovation is important, he said, and it was the focus of this month’s “Tech Talk," held Thursday, April 16. Mody, the vice president of technology at Baker Hughes, Inc., was the featured guest.

During his presentation, Mody outlined the necessity for creating value in a company through innovation, the challenges the industry is facing today, and the mission of Baker Hughes, Inc.

Baker Hughes is a “highly innovative, technology driven company,” Mody said, with more than 60,000 employees globally, more than $25 billion in revenue in the past year and $613 million in research and technology investment. That final number, he said, is key.

“Companies investing in research is very critical, because research is all about the future,” he said. “You don’t see that often now with the way things are going.”

“The first thing companies want to do is cut research,” Mody continued. “Research doesn’t show up on your profits today; they show up three years from now. Good, solid companies invest in research for longer.”

Mody explained that the most effective way to create value for an organization, for science and for society is through innovation.

“Innovation is the process by which you take an invention and make it a successful commercial product,” he said.

Baker Hughes’ mission includes enabling safe, affordable energy and empowering people’s lives. Mody welcomed engineers of all disciplines to join the company its efforts to support that mission.

At the end of the Tech Talk, Baker Hughes donated $100,000 to the LSU Foundation to go toward engineering summer camps and the peer mentors program. The program was followed by a brief reception where students were able to interact with the Baker Hughes representatives.

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For more information contact Marissa-Beth Humphrey, LSU College of Engineering, 225-578-5660, marissah@lsu.edu

 



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