Open innovation leverages external expertise in technology by encouraging collaboration between organizations and outside entities such as startups, research institutions, and independent developers. This approach enables companies to access new ideas, technologies, and solutions that can accelerate innovation and reduce development time. By tapping into diverse perspectives and resources, organizations can address challenges more effectively and create value in ways that might not be achievable internally. Open innovation fosters a culture of collaboration and knowledge sharing, ultimately driving growth and enhancing competitiveness in the market.