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Apple named fourth most innovative company in the world

Apple has been named the fourth most innovative company in the world thanks to its innovation in health and internal hardware design – i.e. the super powerful chips that drive its iOS devices.

Apple was listed by Fast Company, which placed Amazon first, Google second, and Uber third. Fifth place was awarded to Snap, Snapchat‘s parent company.

The iPhone maker’s position might be lower than some would expect, but the company’s been around for a long time, and is the only one in that top five that deals with hardware as its primary output. Turnaround cycles and innovation is arguably slower when manufacturing is taken into account.

And having said that, it’s even more of an achievement considering Fast Company’s 2016 list placed Apple seventh.

Some claim Apple is not as innovative as it once was, and the company’s profile that accompanied the list acknowledges this. However, Fast Company looked beyond aesthetics, pointing to Apple’s decision to create its own chips over competitors that outsource theirs as a highlight of its innovation.

“An iPhone packs a processor designed specifically optimized for Apple’s operating system, apps, display, camera, and touch sensor. The company has gotten so good at chip design that the A10 Fusion inside the iPhone 7 trounces rival processors in independent speed benchmarks.”

It also praises Apple’s privacy considerations, and its pursuit of artificial intelligence.

Fast Company, alongside the innovation list, compiled two more lists for Consumer Electronics and Health in which Apple places third and second respectively.

Read Apple’s company profile over on the Fast Company website for more insight into their innovation.