When it comes to innovation, the spotlight usually shines on the high-tech world of Silicon Valley; automotive manufacturers, by comparison, are generally seen as technological dinosaurs. But a new study suggests that this conventional wisdom might need to be turned on its head.
Of the 20 most innovative companies named in a new study by the Boston Consulting Group, nine are carmakers – more than both the technology and telecom list for the first time since the 2005 study was released. And the number grows substantial — adding a few breakthrough names like Tesla — when looking at the Top 50 innovators.
“Innovate or die,” the study stresses, repeating what has become the mantra at many leading corporations. And BCG analysts said that is more than just a public relations ploy for the most successful companies, noting that the call for innovation is “backed up by investment, which has been rising significantly in recent years.”