Innovation is important in every industry to cater to the needs of evolution. As technologies advance, innovation plays a crucial role in adaptation. There are millions of companies that are developing products and services and innovative models to be able to sustain through the changes. To appreciate the efforts of such companies, the Boston Consultancy Group ranks various companies on the scale of their innovation. And if you are curious to know which are the top innovative companies in the world, read on. India Building on Software, Innovation Sectors To Become Global Powerhouse in Science and Tech, Says UK Science Minister George Freeman.

The Boston Consultancy Group ranks companies on different parameters such as performance, resilience to the changing market and disruptions and how quickly they innovate to create value. There are several other factors, such as AI and technology capability, which are also considered. Among the Top 50 companies on the list, the only Indian company to find a spot is the Tata Group.

The top three companies on this list feature Apple, Tesla and Amazon. Moderna, Samsun, Huawei, and Seimens also find a spot among the top 10. Other prominent companies include Pfizer, Meta, Nike, IBM, Oracle, ByteDance, Walmart, Mercedes-Benz Group, Lenovo, BMW, Alibaba and Unilever. Nestle, Xiamo, Dell, Bosch, Coca-Cola, and Shell are also some of the prominent names here. Fostering Entrepreneurship and Innovation PM @narendramodi Promotes Ways to Boost.

Tata Group ranks 20th on the list. The company also includes innovation-ready leaders who develop products, processes and business models that are in line with sustainability goals. Tata Group is one of those companies that embeds sustainability into business excellence.

As per BCG, all of these companies use a wide array of strategic tools to strengthen their innovation platforms and practices. They aggressively use M&A and innovative technologies and acquire leaders and employees with a demonstrated ability to innovate. This list does give an idea about the industry leaders from whom we can expect some more exciting products in the upcoming years.

(The above story first appeared on LatestLY on May 25, 2023 01:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).