Processor designs and the EDA tools that support them stand at a key inflection point. The era of Dennard scaling and exponential single thread performance growth is a distant memory. Multi-thread performance continues to grow. However, the gain from simply adding more cores to a die by stepping to the next process node is diminishing due to technology challenges, application bottlenecks, and power/packaging constraints. To continue to deliver the cost-performance gains that drive our industry, designers will need to bring significant innovation to bear by integrating heterogeneous system components and accelerating key portions of the software stack in hardware. This transformation from technology-driven design to innovation-driven design defines new priorities for EDA development compared to prior eras. While timing optimization, power reduction, and support for modular designs remain necessary, differentiation will be achieved by enabling designer productivity through technology simplification, design abstraction, and robust support for heterogeneous IP.