Η Boston Consulting Group (BCG) ranked Xiaomi 29th on the list of “50 most innovative companies of 2023», two places higher than last year
This is an international recognition that Xiaomi makes innovation a priority, commits investment and talent to it, and works to turn investment into results.
In the first quarter of this year, the company's expenses on research and development (R&D) sector increased by 17,7% compared to the previous year, reaching 4,1 billion RMB. From the March 31 2023, the number of staff in the R&D department reached approx 16.500, that is, it is more than 50% of all Xiaomi employees.
Xiaomi's research and development efforts have earned the company more than 32.000 patents worldwide by March 31, 2023, while total investments in R&D for 2023 are expected to exceed 20 billion RMB.
The company has embraced technological transformation, including Artificial Intelligence (AI) and formally established a team AI Lab Foundation Model last April, and has more than 1.200 employees related to artificial intelligence. The company will continue to expand all AI-related technologies and products, aiming to maximize the advancements in the technology and explore new opportunities with all its partners.
BCG's ranking of the most innovative companies is based on a survey conducted on a base of more than 1000 innovation executives worldwide, interviewed in December 2022 and January 2023. The survey assesses a company's performance in four categories: in global mindshare, industry peer view, industry world acceptance and intentional value creation.
Η BCG has been publishing its annual innovation report since 2003. BGC's 2023 list includes many other well-known corporate giants, such as Amazon, Alphabet, Microsoft, Siemens, Pfizer, SpaceX, Nike, IBM etc.
Xiaomi recognizes 2023 as the most critical year to accelerate the company's growth, and will remain resolute in promoting its new business strategy, emphasizing the development of high-quality products based on the unceasing pursuit of technological progress, but also the mission to enable all its customers from all over the world to enjoy a better life through the innovative technology it offers.
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