This title is a recognition of Xiaomi's continuous efforts in prioritizing innovation through increased investment in human resources, thereby turning these investments into worthy results.
Xiaomi continues to increase investment in R&D
In the first quarter of this year, Xiaomi's research and development (R&D) expenses increased by 17.7% year-on-year. As of March 31, 2023, the number of R&D employees reached about 16,500, accounting for more than 50% of Xiaomi's total employees. Xiaomi's R&D efforts have brought the company more than 32,000 patents worldwide .
Emphasizing the importance of technological transformation, including artificial intelligence (AI), Xiaomi officially established the AI Lab Foundation Model team in April with more than 1,200 employees in the AI field. The company will continue to expand user scenarios related to AI, maximize technological advances, and explore new development opportunities with potential partners.
BCG's Most Innovative Companies ranking is based on a survey of more than 1,000 global innovation executives conducted in December 2022 and January 2023. The survey evaluates a company's performance across four criteria: Global knowledge sharing, Peer review, Industry disruption, and Value creation.
BCG has published this annual report since 2003. Other tech companies on the 2023 list include Amazon, Alphabet, Microsoft, Siemens, Pfizer, SpaceX, Nike, IBM...
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