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1、Most Innovative Companies 2023Reaching New Heights in Uncertain TimesMay 2023 Contents01 The Formula for Innovation from Leading Companies What Winners Are Doing Bosch:A Culture of Innovation The 50 Most Innovative Companies of 2023 Innovation and Performance Samsung:Leading the Commercialization of
2、 Consumer Tech07 A Downturn Ups the Stakes in Innovation A New Outlook?Investing with Focus McDonalds:Driving Growth with Digital Innovation Good Advice(Updated)Stands the Test of Time14 How Early Winners Are Unlocking AIs Potential From Implementation to Impact H&M:Leveraging AI and Human Input for
3、 Amplified Intelligence Four Impact Success Factors Moderna:Pioneering AI-Driven Innovation in the Fight Against Cancer19 Methodology 24 About the Authors25 AcknowledgmentsBOSTON CONSULTING GROUP 1For the third straight year,the evidence is mounting:companies that both prioritize innovation and make
4、 sure that they are ready to act are widening the gap over less capable competitors.The leaders at these firms are consistently delivering new products,entering new markets,and establishing new revenue streams.The laggards struggle to make headway beyond incremental improvements.This year,the findin
5、gs from our global innovation survey dovetail with other new BCG research showing that compa-nies built for the future share a common set of attributes that enable them to exhibit superior performance,be more resilient to shocks and disruptions,and exploit innovation faster for value-creating growth
6、.In addition to people and technology capabilities(including,importantly,AI),one of these attributes is an innovation-driven culture.In this years Most Innovative Companies report,we examine what innovation-ready leaders(those that are ready to develop product,process,and business model innovations
7、that can deliver sustainable impact)are doing to pull ahead and how innovation is building their resilience to economic uncertainty and fueling their pursuit of lower emissions.In “A Downturn Ups the Stakes in Innovation,”we explore how a potential downturn in 2023 is evoking a much different respon
8、se than did the 2009 financial crisis,especially among leading firms.In“How Early Winners Are Unlocking AIs Potential,”we dig into the critical role of artificial intelligence(AI)in innovation as in many other areas of business today.The Formula for Innovation from Leading Companies By Justin Manly,
9、Michael Ringel,Amy MacDougall,Will Cornock,Johann Harnoss,Konstantinos Apostolatos,Ramn Baeza,Ryoji Kimura,Michael Ward,Beth Viner,and Jean-Manuel Izaret2 MOST INNOVATIVE COMPANIES 2023What Winners Are DoingDespite global economic uncertainty,innovation rose as a top corporate priority in 2023,with
10、79%of companies ranking it among their top three goals.(See Exhibit 1.)This is up from 75%in 2022 and close to 2019s high of 82%.The top areas of innovation emphasis are new products and exploring adja-cent business models.Cost is a key driver for 62%of respon-dents and a top reason for innovation.C
11、ompanies remain bullish on their innovation prospects:42%expect to signifi-cantly increase spending this year,a jump of 16 percentage points over the last economic downturn in 2009.These are impressive figures,especially in the current macroeco-nomic and geopolitical environment.But there is also an
12、 emerg-ing group of companies that is going much further and putting innovation front and center in their future growth strategies.Two years ago,as the world began to emerge from the pandemic,we observed that successful innovation takes three things:making innovation a priority,committing investment
13、 and talent to it,and being ready to transform investment into results.We found that only about one company in four was“innovation ready”that is,it met all three criteria,particu-larly possessing the elements of leadership and teaming that enable effective execution of a companys innovation ambition
14、s.Last year,we examined companies readiness in the context of climate and sustainability(C&S),which two-thirds of companies ranked as a top corporate priority.Only about one in five companies was ready to take effective action.This year,two out of three ready companies rank innovation as their top p
15、riority,and 90%expect to increase spending almost all by more than 10%.(See Exhibit 2.)Moreover,while all companies on average expect to allocate more money toward incremental innovations close to the core(an under-standably conservative approach in uncertain times),ready companies are allocating fu
16、lly one-third of spending toward developing breakthrough innovations.Expanding into adjacent business models is also a priority in 2023.And 89%of ready companies prioritize C&S compared with 58%of all companies.Ready companies use a wide array of strategic tools to strengthen their innovation platfo
17、rms and practices.They access capabilities and expertise from outside their own walls,and they have systems in place to leverage these tools for value.These companies are much more aggressive in their use of M&A,for example,targeting innovative technologies or processes or acquiring leaders and empl
18、oyees with a demon-strated ability to innovate.They are also more likely to involve innovation experts in target analysis and selection.Exhibit 1-Nearly 80%of Respondents Named Innovation as a the Top-Three Priority,While Two-Thirds of Ready Companies Ranked It as Top PrioritySources:BCG Global Inno
19、vation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.No data for 2011 and 2017 available.Totals may not sum due to rounding.“Ready”companies are those that are ready to develop product,process,and business model innovations that can deliver sustainable impact.Where does innovation,R&D
20、,and product development rank among your companys priorities?(%)Respondents who cite innovation,R&D,and product development as their companys top priority(%)6242422222330352333333347324343394552535357534747424242462005 2006209 20620152018 2019752020 20222
21、202377966667676778275Top PriorityTop 3 Priority3065ReadyUnready35BOSTON CONSULTING GROUP 3For similar reasons,they also are more likely to orchestrate or participate in ecosystems,engaging with external partners,even competitors,on innovations.They determine what they need,whether its tec
22、hnology,data,or something else,and then work out the most effective way to access it.They drive digital innovation with a clear bias towards new digital products,agile teaming,and improving customer and marketing insights.They regularly review the performance of innovation units or vehicles(such as
23、venture capital funds,accelerators,incubators,and R&D)and shift resources toward centers of success.And they understand that effective portfolio governance and management,especially with respect to data transparency,are key to driving impact.Bosch:A Culture of Innovation The Bosch Group(number 37 on
24、 the 2023 Most Innovative Companies list)states in its annual report that“the basis for the companys future growth is its innovative strength.”While Bosch has a special ownership structure that facilitates long-term planning and up-front investments,it is a strong culture of innovation that underpin
25、s.Bosch has a global R&D organization of about 84,800 employees,44,000 of whom are software developers,in 130 locations.From 2018 through 2021,the company has maintained steady R&D spending as share of sales at between 7.6%and 8.2%.A core pillar of Boschs innovation strategy is its centralized Bosch
26、 Research unit.With 1,800 highly specialized employees,this unit generates about a quarter of all Bosch patents.Bosch Research focuses on enabling technologies that can be applied across The Bosch Group,such as AIoT,which combines AI and the Internet of Things,to move from fundamental research to ac
27、tual product innovation and large-scale commercialization.Bosch builds on a broad ecosystem of internal business units and external partners to generate innovation ideas.While three-quarters of R&D spending has been devoted to the companys Mobility Solutions business and topics such as electrificati
28、on,driver assistance systems,semiconductors,and sensors,Bosch supplements internal R&D investments with targeted acquisitions to support high-priority areas,such as its automated driving product portfolio.In 2022 alone,the company made three investments to acquire IP for the next generation of mobil
29、ity,consistent with its goal of making Bosch a one-stop shop for“all the necessary building blocks of automated drivingfrom actuators and sensors to software and maps,”according to Mathias Pillin,president of the Cross-Domain Computing Solutions division.For example,Boschs Semiconductor Ideas to the
30、 Market team specializes in high-frequency-processing“System-on-Chips”used in control units for the automotive industry.Its FiveAI unit provides a modular cloud platform designed for building software components and development platforms Exhibit 2-Nearly 90%of Ready Companies Plan to Increase Innova
31、tion SpendingSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.Totals may not sum due to rounding.“Ready”companies are those that are ready to develop product,process,and business model innovations that can deliver sustainable impact.How will your companys in
32、novation,R&D,and product development spending change this year in response to macroeconomic factors?(%)1023262215Increaseby 30%Increase by21%to 30%Increase by11%to 20%Increase slightly(5%to 10%)No change(10%)Decrease slightly(-1%to-10%)Increase slightly(1%to 10%)Stay roughly the sameDecre
33、ase significantly(-10%)0204060802609Top priorityNot on the listTop 3Top 10+16pp+15pp+8ppBOSTON CONSULTING GROUP 9Exhibit 6Companies Expect to Increase Spending On Key Innovation Enablers,Even in the Face of a DownturnSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n
34、=1,023 for global respondents.Increase spendingDecrease spendingMaintain spendingHow do you anticipate the use of innovation vehicles to change in response to macroeconomic factors such as a potential downturn,inflation,or uncertainty?(%)3533323326232246535552585560218M&AR&DlabsDigital an
35、dinnovation labOpen innovationecosystemAcceleratorCVC fundIncubator10 MOST INNOVATIVE COMPANIES 2023Investing with FocusThis years survey found a significant percentage of companies that are not only prioritizing innovation but investing in it.They are also focusing their investments for greater imp
36、act and managing their portfolios for improved results,perhaps directly in response to economic uncertainty or the prospect of turmoil.They understand that innovation leads to advantage,or as Eric Schmidt,former chairman and CEO of Google,recently observed in Foreign Affairs,“The main reason innovat
37、ion now lends such a massive advantage is that it begets more innovation.”Innovating through uncertainty requires tough prioritization around portfolio management,rigorous governance,investment in M&A opportunities,and the continuous building of talent and internal capabilities.In practice,this mean
38、s companies should focus on five things.M&A.Leaders look to acquire missing technologies,capabilities,and talent.Our research found that innovation-ready companies(those that are ready to develop product,process,and business model innovations that can deliver sustainable impact)use a wide array of s
39、trategic tools to strengthen their platforms and practices.They are much more aggressive in their use of M&A to further objectives by accessing new technologies and processes or acquiring leaders and employees with a demonstrated ability to innovate.(See Exhibit 7.)They are also more likely to invol
40、ve innovation experts in target analysis and selection.Microsoft(which has ranked among the top five innovative companies since the first edition of this report in 2005)is famous for using M&A as well as partnerships and alliances to fill strate-gic needs that further its innovation agenda.The most
41、recent example is the companys investments in OpenAI and the integration of ChatGPT into multiple Microsoft product offerings.Another example is Siemens(number 10 this year and in the top 50 for 13 of the previous 16 years),which uses M&A in various ways.In 2018,it spun off 25%of its Siemens Healthi
42、neers medi-cal device business to spur entrepreneurial independence.Siemens Healthineers has taken advantage of the flexibility to pursue big bets in health care,continuing through the pandemic.In August 2020,it announced the acquisition of longtime partner Varian Medical Systems for$16.4 billion.Th
43、e Varian acquisition positioned Siemens Healthineers as the player with the most comprehensive integrated cancer care portfolio,across screening,diagnostics,and treatment.It has allowed the company to realize innovation synergies,combining Siemens imaging tech-nology with Varians therapeutic technol
44、ogy and AI to enhance existing products and create new ones.For example,Siemens Healthineers new radiotherapy product combines imaging capability with AI to do rapid assessments and real-time optimi-zation of treatment while patients are receiving therapy.Exhibit 7-Companies Use M&A to Access Innova
45、tive Technologies and Processes,and They Involve Innovation Experts in Target SelectionSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.”Ready”companies are those that are ready to develop product,process,and business model innovations that can deliver susta
46、inable impact.What role do M&As play in your companys innovation strategy during times of downturn,inflation,or uncertainty(select one)?(%)339786All companiesAcquire innovativetechnologies orprocessesInclude innovationexperts in our targetscreening and duediligence process Acquire leaders
47、and employees withdemonstrated abilityto innovateM&A does notplay a significant roleAccess to new markets+3+23+7-14-20Ready companiesBOSTON CONSULTING GROUP 11Portfolio Prioritization.Innovation-ready companies emphasize breakthrough or disruptive innovations,while less-sophisticated innovators allo
48、cate resources more heavily to“near-in”or sustaining innovation.Significant percentages of all the companies in our 2023 survey are increasing their focus on digital product innovation(34%),adjacent new business models(30%),lowering costs(23%),and new ways of working(30%).Innovation-ready companies
49、are shifting their allocation of resources away from incremental innovations that sustain current positions or advantages toward break-through or disruptive innovations that create new markets or revenue streams.(See Exhibit 8.)In the event of a downturn,ready companies expect to allocate 50%more in
50、vestment toward breakthrough innovations(34%versus 22%for other companies)and almost that much more toward disruptive innovations(36%versus 26%).Ready companies are planning to increase downturn spending in both areas while others tread water or retrench.Portfolio Management.Embedding effective port
51、folio management and governance helps ensure ROI.The availabili-ty of end-to-end tracking tools for innovation portfolios actually declined from 2022 to 2023,and only 38%of companies report a strong reliance on metrics to inform decision making and governance.Less than a quarter of survey respondent
52、s said they have successfully implemented clear KPI and deci-sion-making criteria to make portfolio decisions,and only 23%use stage-gate processes with clearly defined decision criteria,reporting requirements,and performance metrics.By contrast,almost all innovation-ready companies employ end-to-end
53、 tracking to assess progress and make informed decisions about an initiatives value.(See Exhibit 9.)Overall revenue growth and customer satisfaction remain the top metrics for innovation success,used by 41%and 35%of companies,respectively.These are the same met-rics,used by roughly similar percentag
54、e of companies,as we recorded during the last recession in 2009.Impact on environmental,social,and governance goals jumped into the top-five success metrics tracked this year and is the most common among ready companies.Exhibit 8-Ready Companies Lean Away from the Core Toward Breakthrough Innovation
55、sSource:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.Totals may not sum due to rounding.“Ready”companies are those that are ready to develop product,process,and business model innovations that can deliver sustainable impact.All companiesReady companies100%232830
56、3247445303532323833343631313533Near-in/sustainingNear-in/extensionNew to company(adjacencies)New to world(breakthrough)IncrementalDistruptiveDistance from core:Level of advantage:Past year(2022)Past year(2022)Expected allocation inuncertainty/downturnExpected allocation inuncertainty/down
57、turn12 MOST INNOVATIVE COMPANIES 2023Data,Targets,and Collaboration.Ready companies emphasize use of fundamental tools and ensure greater data transparency,clearer portfolio targets,and more collaboration.Three-quarters have full data transparency to support decision making,compared with only 35%of
58、not-ready companies.Almost 60%have clear portfolio targets,and more than half use regular portfolio meetings to assess process.(See Exhibit 10.)Innovation-Focused Talent and Culture.For many“almost ready”companies,talent and culture is the dimen-sion holding them back from realizing the full potenti
59、al of their innovation function.In fact,companies that are almost ready(according to BCGs i2i assessment)lag ready companies more on talent and culture than on any other dimension.Ready companies focus on an innovation-focused culture and talent pipeline.They are three to four times as likely as the
60、ir almost-ready counterparts to have successfully implemented a strong innovation-focused recruiting and talent acquisition foundation across all stages of the talent pipeline.And,as we will see in“How Early Winners Are Unlocking AIs Potential,”the third article in this years report,companies that r
61、ealize impact from AI have more than three times as many people dedicated to innovation as those who dont.The war for talent is a perennial issue.The job market is still strong,but it has softened in many parts of the world,meaning it may be easier now to build or strengthen internal teams.The same
62、conditions that provide opportunities for M&A also offer the opportunity to acquire qualified,innovation-focused talent.McDonalds:Driving Growth with Digital InnovationConsider the case of McDonalds(number 34 on the 2023 top 50 list),a restaurant industry frontrunner in technology innovation and inv
63、estment,which has combined many of these practices to bolster its leading position in the indus-try.McDonalds spends heavily on innovation through partnerships,labs,digital tools,and acquisitions.It was investing in AI(through M&A)as early as 2019 when it acquired Apprente,which develops voice-based
64、,conversa-tional technology,and personalization startup Dynamic Yield to better customize the drive-through experience.Exhibit 9-Nearly All Ready Companies Have Implemented End-to-End Portfolio TrackingSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.“Ready”
65、companies are those that are ready to develop product,process,and business model innovations that can deliver sustainable impact.1“Implemented with impact”includes the subset of companies implementing portfolio transparency that also saw impact from those efforts.Have you implemented a holistic view
66、 of the portfolio with end-to-end tracking available centrally as a source of truth to guide portfolio decisions?(%)What metrics does your company use in innovation,R&D,and product development(select up to three)?(%)All companiesReady companies42149443ImplementedImplementedwith impact3338
67、432325Overall revenue growthCustomer satisfactionImpact on ESG goalsReturn on innovation spendingMargin accretion BOSTON CONSULTING GROUP 13When the onset of the pandemic threated its in-restaurant business,McDonalds launched the“Accelerating the Arches”growth strategy,doubling down on digital,drive
68、-through,and delivery.Digital innovations cut 30 seconds off drive-through ordering times during the pandemic,enabling the restaurant chain to move more cars through its windows when indoor dining was limited.McDonalds also has created a customer experience team to improve diner engagement on the pr
69、emises and digitally by combining data analytics and global marketing insights.The company has similarly been using AI-driven prediction and recommendation algorithms to decide what customers are most likely to want to buy and displaying it prominently on digital menus.Good Advice(Updated)Stands the
70、 Test of TimeSuccessful companies make a commitment to long-term innovation while also taking advantage of near-term oppor-tunities,such as weakened competitors,to improve their positions.In our 2009 report,we offered“seven aggressive innovations strategies,”both long term and short term,for leading
71、 out of the downturn.Nearly a decade and a half later,those approaches are still valid,although they could be updated to add the following strategies to reflect todays more technology-and data-intensive environment:Stay aggressively invested.Maximize the impact of your investments by optimizing the
72、innovation pipeline and funnel.Alter your business model in strategic,game-changing ways.Choose game-changing technology,or com-binations of technologies,that secure sustainable advantage.Go bargain hunting.Find attractive acquisitions and build innovation into the M&A process by including innovatio
73、n expertise on M&A teams and targeting new technologies and talent.Acquire intellectual property(IP)on the cheap.Go after complementary ideas or capabilities and monetize off-strategy IP assets.For example,investors are already rewarding smart climate moves in their valuations.Raid competitors talen
74、t pools.Dont be afraid to find talent wherever it may beand locate talent pools in other industriesto build your own capabilities.Stage a network invasion.Intervene in ecosystems to expand access to external capabilities and talent.Use innovation to attack competitors profit strongholds.Your innovat
75、ion investments can disrupt the strongholds of others(as well as your own)by entering new markets with new models.Some companies already have the tools to execute these recommendations and to do so with speed.Catching up with the leaders is much more challenging than it used to be,because moving fas
76、t requires sophisticated capabilities that are neither easy nor quick to acquire.If downturns do in fact separate winners and losers,then winners are sitting prettyand that could make their competitors sitting ducks.Exhibit 10-Ready Companies Rely on Full Data Transparency,Clear Portfolio Targets,an
77、d Regular Portfolio MeetingsSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.“Ready”companies are those that are ready to develop product,process,and business model innovations that can deliver sustainable impact.How do you support effective decision making
78、on your innovation portfolio?(%)Ready companiesUnready companiesFull data transparencyClear portfolio targetsRegular portfolio meetings+37725851353838+20+1314 MOST INNOVATIVE COMPANIES 2023Artificial intelligence(AI)is having a big impact on how companies approach innovation,but are companies achiev
79、ing big innovation impact from AI?The evidence is mixed.The question isnt whether AI can have an impact.While technical challenges that may prevent achieving full value persist,many companies have realized some benefit and often with minimal investment.Its more a matter of whether companies are usin
80、g AI properly and for use cases with the potential to drive real business value.The varying results that companies are achieving so far with AI further increases the distance between organizations that have well-functioning innovation engines and those that do not(See“The Formula for Innovation from
81、 Leading Com-panies”in this report).Indeed,given AIs transformational potential(which anyone can experience by taking ChatGPT for a spin),failing to master the technology could ultimate-ly prove fatal to a firms innovation program.Widening the divide further,we are now entering a new world of AI tha
82、t is rapidly expanding the possibilities for how users engage and experiment with technology.Whereas“old”AI relied heavily on databases and supervised learning models,the emerging“new”AI is more accessible and offers the potential to unlock broader insights.(See the sidebar“Defining AI in Innovation
83、.”)How Early Winners Are Unlocking AIs Potentials By Justin Manly,Michael Ringel,Amy MacDougall,Will Cornock,Johann Harnoss,Konstantinos Apostolatos,Ramn Baeza,Ryoji Kimura,Michael Ward,Beth Viner,Jean-Manuel Izaret,Wendi Backler,Vlad Lukic,Sylvain Duranton,and Romain de LaubiertBOSTON CONSULTING GR
84、OUP 15Artificial intelligence(AI)is at its core a set of algorithms that classify,process,and manipulate data.“Random forests,”“neural networks,”and“generative AI”are all examples of the algorithms on which AI use cases are built.While AI is continually evolving,the taxonomy is subject to change.BCG
85、 categorizes AI use cases into five broad domains:Computer Vision and Hearing.These capabilities in-volve identifying objects and individuals and extracting text from images,speech,and handwriting(finding a specific element in an image,for instance).Natural Language Processing(NLP).This domain invol
86、ves translating human(or“natural”)language into machine-understandable inputsand vice-versaand un-derstanding and extracting meaning from natural language(such as identifying positive or negative sentiments in user product reviews).Combining capabilities across multiple domains unlocks additional us
87、e cases.For example,apps that allow users to point their camera at a street sign in a foreign language and translate it into their own utilize both computer vision and NLP capabilities.Machine Learning.Gartner describes machine learning,the backbone of many companies applications,as a set of algorit
88、hms and techniques that operate guided by lessons from existing information.Commonly used techniques are unsupervised,semi-supervised,and supervised learning.Decision Making.This set of capabilities makes decisions based on databases of similar cases or sets of human-defined rules.Decision making ca
89、n be combined with machine-learning techniques to yield a self-learning expert system.Responding and Generating.This domain includes,among other techniques,the generative AI family of algorithms(used by such systems as DALL-E and ChatGPT).They are capable of generating seemingly new,realistic conten
90、t,including text,images,or audio,from the vast quantity of unlabeled data they are trained to interpret.They also use reinforcement learning techniques(also used in machine learning),which are based on “learning by doing,”as opposed to learning by observing.Defining AI in Innovation16 MOST INNOVATIV
91、E COMPANIES 2023In the third article of this years Most Innovative Companies report,we look at the current state of play of AI in innovation and what early winners are doing right.From Implementation to ImpactA majority of companies(61%)have invested in AI.In fact,AI is attracting investment from mo
92、re companies than any other technology.(See Exhibit 11.)While most of these firms have systematically implemented AI in one or more use cases(83%),far fewer(45%)have managed to translate this into business impact.(See the sidebar“Implementing AI with Impact.”)The most common innovation-focused AI us
93、e cases(which 54%of respondents have implemented)are revealing market trends and competitor activities,but few companies use AI for just one thing.About 70%of those implementing AI in innovation are experimenting across a range of use cases.(See Exhibit 12.)The number achieving impact is consistentl
94、y much lower,indicating that,not surprisingly,integrating the new technology into existing innovation processes is a challenge.Among the biggest hurdles weve heard cited are leaderships lack of willingness to invest,access to training data,the expense of data storage,and regulatory complexities.The
95、top three use cases with the most AI impact are making portfolio prioritization decisions(40%of companies implementing AI for that use case achieve impact),identifying players with external innovation potential(38%),and revealing market trends and competitor activities(37%).But success varies across
96、 sectors.(See Exhibit 13.)Companies in the medtech(51%),materials(48%),and chemicals(47%)industries are the most successful at achieving impact from AI.These sectors show roughly a 1.5 times higher likelihood of AI impact for innovation than the overall average across all industries.Previous BCG res
97、earch has shown that a strong digital foundation is key to being able to scale AI,and medtech,chemicals,and pharma(which ranks fourth for impact)are all R&D-focused sectors.These companies are therefore more likely to be better able to couple ad-vanced digital capabilities with new product developme
98、nt.Companies ability to invest in other,related technologies is another indicator of success.Those that invest in four or more advanced technologies in addition to AI are three times more likely to see impact than those that invest only in AI,and success rates climb with the number of technology fie
99、lds receiving funding.(See Exhibit 14.)“We use AI as a tool to enable such domains such as robotics,IoT,and communi-cations,”the R&D director at a European durable goods company told us.Chemicals and telecommunications(seventh for impact)are heavy users of the Internet of Things(IoT).Similarly,pharm
100、a,finance(sixth)and transportation(fifth)invest quite heavily in robotics compared with other industries.Some chemicals and pharma companies are experimenting with the combination of AI and quantum computing in the hunt for new materials and medicines.Large gaps between use case implementation and i
101、mpact indicate a use case without a strong value proposition,an industry unable to capitalize on AI,or both.The industries with the biggest divide between implementation and impact are the public sector,wholesale and retail,and media and entertainment.Certain industry and use case combinations are e
102、specially effective at driving greater rates of impact.For example,73%of medtech companies that implement AI to reveal market trends realize impact,the highest rate of all industry-use case combinations.Second place belongs to pharma companies:63%that use AI to identify players for external innovati
103、on potential realize impact from its use,which perhaps isnt surprising given the need to navigate the complex R&D ecosystems in this field.A great deal of untapped potential exists for some indus-try-use case combinations,especially in sectors where a particular use case demonstrates outsized impact
104、.For example,only 30%of travel companies use AI to support the idea creation process,even though travel companies that do apply AI realize impact at the highest rate in the industry.Only 39%of telecom companies use AI to identify new The question isnt whether AI can have an impact.Its whether compan
105、ies are implementing AI for use cases with the potential to drive business value.BOSTON CONSULTING GROUP 17Exhibit 11More Companies Are Investing in AI Than in Any Other TechnologySources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.Which technology categories a
106、re you investing in this year?(%)AI(such asmachinelearning)Roboticsand processautomation Internet ofThings(IoT)and EdgeComputingBlockchains,Web3,andDeFiHuman/machineaugmentationand hybridsAugmented,virtual,andsynthetic realitiesNanotechnology,synthetic biology,and biomimicryQuantumcomputing614644292
107、9271610-1518 MOST INNOVATIVE COMPANIES 2023In the 2023 innovation survey,we asked respondents to rate their companys use of AI across six use cases:Revealing market trends and competitor activities(such as domains,topics,and technologies)Making portfolio prioritization decisions Identifying players
108、with external innovation potential(such as alliances,partnerships,venturing,and M&A)Informing innovation investment decisions(such as starting an R&D project in a particular field)Identifying new innovation themes,domains,adjacencies,and technologies Providing input to support idea creation(such as
109、surfacing or validating ideas)We also asked respondents to rank their companies skill at leveraging AI from one to five,with one meaning that they hadnt implemented that use case and five signifying they had implemented the use case with impact.Companies that implemented use cases with impact(level
110、five)believe that“the codified and implemented practice is generally viewed within the company as a driver of innovation impact,”consistent with the companys innovation ambitions.Implementing AI with ImpactBOSTON CONSULTING GROUP 19Exhibit 12-Many Companies Are Using AI to Support Innovation,but Few
111、 Are Achieving ImpactSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.How would you rate your companys skill at leveraging big data,advanced analytics,and AI to help with innovation?(%)Revealing market trends andcompetitor activities(such as domains,topics,a
112、nd technologies)Making portfolio prioritization decisionsIdentifying players with external innovationpotential(such as alliances,partnerships,andventuring M&A)Informing innovation investmentdecisions(such as starting an R&D projectin any given field)Identifying new innovation themes,domains,adjacenc
113、ies,technologies,and so onImplemented AI for this use caseProviding input to support the ideacreation process(such as surfacing andvalidating ideas)-345450464132020-33-32-31-30-29Realized impact from AI implementationinnovation themes,despite the fact that 50%of implementors realize impac
114、t from this use case.The use cases with the most untapped potential across all industries include identify-ing players with innovation potential,supporting the idea creation process,and identifying new innovation themes.H&M:Leveraging AI and Human Input for Amplified IntelligenceTake the example of
115、fashion retailer H&M,which leverages AI to optimize business processes,enhance personalization,and drive amplified intelligence with human collaboration.The company began exploring AI in 2016,using the vast data it had available to enhance communication,personal-ization,and offerings for customers.M
116、anagement sought to embed the use of AI throughout the organization by addressing various existing business challenges across the entire value chain rather than focusing on a single use case.Working with AI has helped H&M optimize various aspects of its business,from fashion forecasting and quantifi
117、cation to pricing and personalization.The successful implementation across the organization has led to a reduction in waste associated with raw materials and logistics,bringing H&M closer to reaching its sustainability goals.H&M combines AI and human input for amplified intelligence;the combination
118、of data-driven AI and human intuition has proven to be more effective than either capability on its own.One example is in end-of-season sales,where AI improved pricing and sales,but when it was combined with human input the results were twice as impressive as with AI alone.In implementing these AI s
119、olutions,H&M strongly emphasized ownership for employees,trusting them to drive the execution by following an approach it calls“tight,loose,tight,”which has concrete strategies and metrics.20 MOST INNOVATIVE COMPANIES 2023Exhibit 13-AIs Impact on Innovation Varies Significantly by Industry and Use C
120、ase Sources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.Overall323736352929265343333324212017AI use case implementation and impact by industry(%)OverallMedtechMaterialsChemicalsPharmaTransportationFinanceTelecomAutoTech hardwareTravelEnerg
121、yManufacturingConsumerSoftwarePublic sectorMediaDurable goodsInsuranceRetailFrequency of use caseimplementationRate of achieving impact to dateLargest gap between rates of implementation and impactQuartilesIdentifying newinnovation themesSupporting the idea creation processInforming innovation inves
122、tment decisionsMaking portfolio prioritization decisionsRevealing market trends and competitor activitiesIdentifying players with external innovation potentialBOSTON CONSULTING GROUP 21H&M adopts an agile approach,implementing AI in waves through iterative testing and learning cycles,a methodology i
123、t describes as“dream big,start small,and scale fast.”H&Ms entrepreneurial culture helped employees adapt and take pride in their work alongside AI systems,empha-sizing the importance of value over technology capabilities.Four Impact Success FactorsAI alone wont supercharge an innovation program.Comp
124、anies must have the right platforms and practices in place.In our experience,companies that successfully scale AI typically dedicate 10%of their investment to algorithms,20%to technology,and 70%to people and embedding AI into business processes.AI can also accelerate the ability to access external s
125、ources of input,speed the generation and evaluation of ideas,and inform decision making.Through our research and case work,we have identified four key factors to help companies successfully incorporate AI into their innovation efforts.A Strong Digital Backbone and Data Pipeline.To enable AI,companie
126、s must have established digital and data capabilities.Leaders make data and technology accessible across the organization,avoiding siloed and incompatible tech stacks and standalone databases that impede scaling.Our research into AI scaling has shown that companies that make more than 75%of technolo
127、gy and data widely available have a 40%greater likelihood of realizing AI use cases at scale than those that make 25%or less widely available.The survey reveals that among companies that have invested in AI,those that have successfully implemented AI in their innovation processes are 1.5 times as li
128、kely to prioritize full data transparency and effective digital tools for decision making.They are also twice as likely to have an active digital innovation laboratory,and they invest in an average of 2.5 times as many complementary technologies(such as IoT and augmented reality).These complementary
129、 technologies in turn generate data to enhance AI algorithms,creating a positive feedback loop as algorithms learn from what they do.Exhibit 14-Investing in Other Technologies Concurrently with AI Increases the Rate of Achieving ImpactSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,0
130、23 for global respondents.How would you rate your companys skill at leveraging big data,advanced analytics,and AI to help with innovation(out of respondents that invested in AI and in a number of other tech categories)?(%)394929324-57-40-39-39+53-15One active tech investment(AI only)Two a
131、ctive tech investmentsThree active tech investmentsImplemented AIRealized impact from AI implementationFour active tech investmentsFive or more active tech investments22 MOST INNOVATIVE COMPANIES 2023Multiple Technology Initiatives.Companies that achieve the most impact from AI also invest in other
132、advanced technologies and combine these initiatives with AI.Since AI algorithms learn from what they do,uses cases that require technologies such as robotics,automation,or high-throughput sensors that facilitate data collection fuel the AI learning and development process.The most common technologie
133、s to pair with AI investment are robotics for process automation and IoT.The success rate from investing in additional technologies rises fast:each additional technology increases the likelihood of realizing impact from AI by 26%.A Robust Innovation Funnel.The executives and experts that we intervie
134、wed for this report cited three questions they ask when prioritizing investments in AI:Is this technically feasible given our digital foundation?What is the business value and how fast can we realize it?Will this investment develop a core capability that can be leveraged for other use cases?Companie
135、s that realize impact from AI become idea generation powerhouses with robust innovation funnels that both incubate new ideas and rigorously prioritize investment.(See Exhibit 15.)These firms generate more than five times as many ideas than others and incubate more than twice as many minimum viable p
136、roducts.With more than three times as many people working in innovation-related functions,these organizations apply demanding feasibility criteria for new ideas and are twice as selective as companies that dont realize impact from AI.The best AI innovators develop a virtuous cycle or flywheel effect
137、:more ideas mean greater likelihood of finding the best use cases for AI,and implementing AI helps generate more ideas.Some companies have begun incorporating generative AI into the idea creation phase,leveraging the technology to stimulate their teams creativity.Clear Articulation of Purpose and Re
138、sponsibility.Visible leadership from the top matters.Our research shows that when the CEO personally articulates the purpose of innovation for the organization,the likelihood of the company achieving impact from using AI nearly doubles.Driving impact from AI includes not only the immediate results,b
139、ut also the downstream implications.Companies need to factor into their decision making how the use of AI will play out over time.Leaders are already instilling the policies and practices of responsible AI(RAI).Successful RAI begins with a set of clearly articulated principles and is operationalized
140、 by translating principles into policies and training,establishing clear governance mechanisms,building tools for end-to-end case reviews,and integrating RAI considerations into existing tools and methods.RAI is not just a risk mitigation tool but a mecha-nism to accelerate innovation.By providing a
141、 framework with clear guardrails,RAI allows innovators to experiment with confidence and catch failures faster.In a joint BCG-MIT Sloan Management Review global survey in 2022,half of responsible AI leaders reported having developed better products and services as a result of their RAI efforts compa
142、red with only 19%of nonleaders.More than 40%of RAI leaders cited accelerated innovation as a benefit compared with 17%of nonleaders.Given the accelerating pace of advancement in AI,it is imperative for corporate leaders to establish mechanisms to monitor these new capabilities,evaluate risks and opp
143、ortunities for their business,and ensure that they are leveraging the technology in the most promising use cases.Moderna:Pioneering AI-Driven Innovation in the Fight Against CancerOne of the most powerful examples of AI impact is Moder-nas use of the technology in the development of vaccines and the
144、rapeutics.Moderna famously leveraged digital technology and AI to accelerate the design of its mRNA vaccine against COVID-19,but the story goes much deeper.Moderna is applying its technology platform to open a new frontier in cancer treatment:individualized neoantigen therapies.In collaboration with
145、 Merck,Moderna has joined the fight against skin cancer with an investigational mRNA-based therapy,which Phase 2b results suggest can reduce the risk of recurrence or death from melanoma by 44%.Leveraging a proprietary algorithm,the manufacturing process begins by analyzing the patients tumor to ide
146、ntify the cancer-causing mutations and then crafts an individualized neoantigen therapy designed to maximize each patients immune response to their specific tumor mutation signature.Taking this even further,Moderna recently announced a research partnership with IBM to leverage AI and quantum computi
147、ng to advance and accelerate the development of breakthrough mRNA-based therapies.BOSTON CONSULTING GROUP 23Modernas CEO,Stphane Bancel,has publicly cited “going digital”as a key reason for the biotechs success.From its inception,Moderna built much of its drug discovery and manufacturing process in
148、the cloud,incorporating AI throughout.By prioritizing a digitally enabled mRNA platform over any one particular product,Moderna has been able to deliver rapid vaccine and drug development that builds quickly on each consecutive success.To achieve impact responsibly,AI needs leadership from the top,t
149、he right foundational capabilities,and strong guardrails.These elements require time and investment.But given the technologys transformational potential,especially for innovation,they are worth the effort.Exhibit 15-Companies That Successfully Implement AI Have Much More Productive Innovation Funnel
150、sSources:BCG Global Innovation Survey 2023;BCG analysis.Note:n=1,023 for global respondents.Characterize your product development funnel,starting with launched projects and then working backwards to idea generationImpactIdeas generatedCompanies that see impact from implementing AIAverage number of i
151、deas generated per yearIdeas validatedAverage number of generated ideas being validatedIdeas incubatedAverage number of validatedideas being incubatedCompanies that implemented AI with no impactmore ideas generatedImplemented5x45more selective in incubation2x24 MOST INNOVATIVE COMPANIES 2
152、023About the AuthorsJustin Manly is a managing director and partner in the Chicago office of Boston Consulting Group.You may contact him by email at .Michael Ringel is a managing director and senior partner in the firms Boston office.You may contact him by email at .Amy MacDougall is a principal in
153、BCGs Los Angeles office.You may contact her by email at .Will Cornock is a partner in the firms New York office.You may contact him by email at .Johann Harnoss is a partner and associate director for innovation in BCGs Berlin office.You may contact him by email at .Konstantinos Apostolatos is a mana
154、ging director and senior partner in the firms Brussels office.You may contact him by email at .Ramn Baeza is a managing director and senior partner in BCGs Madrid office.You may contact him by email at .Ryoji Kimura is a managing director and senior partner in the firms Tokyo office.You may contact
155、him by email at Michael Ward is a senior advisor in BCGs New York office.You may contact him at .Beth Viner is a managing director and partner in the New York office of BCG X.You may contact her by email at .Jean-Manuel Izaret is a managing director and senior partner in BCGs San Francisco office.Yo
156、u may contact him by email at .Wendi Backler is a partner and director,innovation analytics and IP,in the firms Toronto office.You may contact her by email at .Vlad Lukic is a managing director and senior partner in BCGs Boston office.You may contact him by email at .Sylvain Duranton is managing dir
157、ector and senior partner in BCGs Paris office and global leader of BCG X.You may contact him by email at .Romain de Laubier is managing director and partner in BCGs Tokyo office.You may contact him by email at .Boston Consulting Group partners with leaders in business and society to tackle their mos
158、t important challenges and capture their greatest opportunities.BCG was the pioneer in business strategy when it was founded in 1963.Today,we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholdersempowering organizations to grow,build sustainable compet
159、itive advantage,and drive positive societal impact.Our diverse,global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change.BCG delivers solutions through leading-edge management consulting,technology and design,and corporate and
160、 digital ventures.We work in a uniquely collaborative model across the firm and throughout all levels of the client organization,fueled by the goal of helping our clients thrive and enabling them to make the world a better place.For information or permission to reprint,please contact BCG at .To find
161、 the latest BCG content and register to receive e-alerts on this topic or others,please visit .Follow Boston Consulting Group on Facebook and Twitter.Boston Consulting Group 2023.All rights reserved.5/23 AcknowledgmentsThe authors thank the following colleagues for their assistance with the preparat
162、ion of this report:Faisal Akkawi,Gabe Bouslov,Jon Campos,Malvika Verma,Duc Anh Phi,Yohei Shoji,Philipp Strack,Michael Wahlen,and Gabriel Wang.For Further Contact If you would like to discuss this report,please contact the authors.MethodologyBCGs Most Innovative Companies ranking is based in large pa
163、rt on a survey of more than 1,000 global innovation executives who were polled in December 2022 and January 2023.We assess a companys performance on four dimensions and then take an average of normalized scores to calculate its overall ranking.These four dimensions are:Global Mindsharethe number of
164、votes received from all global innovation executives Industry Peer Viewthe number of votes received from executives in a companys own industry Industry Disruptionthe Diversity Index (Herfindahl-Hirschman)of votes across industries Value Creationtotal shareholder return,including share buybacks,over the three-year period from January 1,2020,through December 31,202226 MOST INNOVATIVE COMPANIES