Innovators of Barclays: Edel Owen

As Head of Applied Research and Development at Barclays, Edel Owen researches, incubates and experiments with new technologies for Barclays – from cloud to AI to digital currencies. Here, she talks about all things innovation – from favourite gadgets to tech trailblazers.

How do you define innovation?

Innovation for me really is about creating new ideas and concepts, and turning those solutions into things that add value for the business. It’s also about staying relevant. We’re in unprecedented times, and what made a company successful in the past isn’t necessarily what will make it successful in the future. Companies have to adapt and evolve.

What do you think the impact of COVID-19 has been on innovation?

The pandemic has really upended all aspects of our lives. If we think about how we live, how we work, how we learn, how companies sell to customers, how customers choose products... I think the crisis has been adrenaline for innovation. It has changed the way we think in all industries, whether it's education, media, finance, retail or health.

Why are diversity and inclusion crucial when it comes to innovation?

Diversity absolutely makes innovation flourish. If we think about diverse teams, the views they bring to the table, their ability to challenge each other in their thinking – they begin to spot new markets and other areas that we haven't thought about before.

I’m the Head of Diversity Innovation for Barclays Northwest, where we have over 10% of our global workforce. Diversity for me is more than a gender or ethnic background. It’s about that array of experiences, expertise, educational background and blending all that together. A really diverse team can bring strength to a business in terms of culture, values and business value.

Which innovators do you admire?

James Dyson and what he has done with everyday appliances, Madame Clicquot, the ‘Grande Dame of Champagne’ – but actually the innovators that stand out for me the most are John and Patrick Collison, the two Irish brothers that co-founded the payment processing platform Stripe. They took such a simple idea and have generated a multibillion dollar company.

What’s the one innovation you couldn’t live without?

For me, it's video calling. I think, particularly during the pandemic, it has changed both how I work and how I live. It’s had an impact on how I stay connected to my colleagues and my teams across the globe. And likewise, personally, I have family who live around the world so it’s allowed me to stay in contact with them while travel has been restricted.

And finally, what are your favourite and least favourite innovations?

That's a tough one. My least favourite, I think, is anything that has impacted humankind or our climate – things like landmines or plastic bags. If I could change one thing in the world through innovation it would be climate change. Innovation will be essential in how we solve that.

In terms of favourites, the internet is definitely up there. I think the World Wide Web has made everything possible. Another would be the iPhone – I don't think we leave the house without it! We can forget our watch, our wallets, our purses, but our phone has become a part of us. But I think my favourite ever innovation is the Dyson V11 vacuum cleaner because it enables my teenagers to clean their bedrooms…