Boston Consulting Group (BCG) has ranked Xiaomi 29th on its 50 Most Innovative Companies of 2023 list, two places higher than last year. The designation is recognition that Xiaomi makes innovation a priority, commits investment and talent to it, and works to transform investment into results. In this year’s first quarter, Xiaomi’s research and development (R&D) expenses increased by 17.7% compared to the year before, reaching RMB4.1 billion. As of March 31, 2023, the number of R&D personnel reached approximately 16,500, which was more than 50% of Xiaomi’s employees. Xiaomi’s R&D efforts have yielded the company more than 32,000 patents worldwide as of March 31, 2023. Total R&D investment for 2023 is expected to exceed RMB20 billion.
The company has embraced technological transformation, including Artificial Intelligence (AI). It officially established an AI Lab Foundation Model team in April and has more than 1,200 AI-related employees. The company will…
