Apple named as the most innovative company by business leaders
In a recent survey of over 1,000 senior innovation leaders, conducted by the Boston Consulting Group (BCG), Apple has been named as the most innovative company globally.
In the report, titled The Most Innovative Companies 2018: Innovators go all in on digital, the findings of the survey are detailed, with Google, Microsoft, Amazon and Samsung all making the top five alongside Apple in the list of 50 firms.
Seven of the firms in the top 10 are all originally digital companies, with the report largely focusing on four key elements of digital innovation that firms are investing heavily in: big data analytics, the adoption of emerging technologies, mobile capabilities, and digital design.
However, the report also shows that as a result of the increased investment there is a gap emerging between weak and strong innovators, with weak innovators becoming increasingly unable to make the most of the potential that is harboured by emerging digital technologies.
“Slow movers on digital innovation risk being left behind by those that invested sooner and more decisively,” said Michael Ringel, a BCG senior partner and a coauthor of the report. “Competitive advantage increasingly depends less on products and more on the digitally enabled services that surround them.”
“From today’s predictive maintenance offerings for industrial goods to tomorrow’s Internet of Things, digital strategists need to explore and master new innovation domains,” Ringel continued. “And as more advanced technologies, such as artificial intelligence, enter the mainstream, the stakes will keep getting higher.”
In this sense, by innovating effectively, companies are able to compete more readily and grow faster, whilst others who fail to do so may be left behind.