Fast Company Middle East unveils its 2022 list of Most Innovative Companies

Business-sector news magazine Fast Company has unveiled its 2022 list of the Most Innovative Companies in the region. (Supplied)

• The business news magazine’s list recognizes 42 companies in 25 categories it believes have reshaped their businesses and industries

DUBAI: Business-sector news magazine Fast Company, which launched its Middle East edition this year, has unveiled its 2022 list of the Most Innovative Companies in the region.
It said the 42 companies on the list helped to reshaped their businesses and industries in 25 categories, including media, entertainment and e-commerce.
“Most Innovative Companies is one of our highly anticipated editorial efforts,” said Ravi Raman, publisher of Fast Company Middle East.
“It provides a snapshot and a road map for the future of innovation across the most-dynamic sectors and we were enthused by both the quantity and quality of the nominations received.
“Innovation is at the heart of everything we do and this list best reflects that.”
In the media category, Asharq News and Augustus Media were recognized for introducing vertical streaming and adapting to the changing world, respectively.
In the entertainment category, TikTok and OSN+ were identified as being the most innovative companies. The latter was chosen for its recent revamp, unconventional screening locations, and the augmented reality initiatives it developed ahead of the release of “House of the Dragon,” HBO’s prequel to “Game of Thrones.”
TikTok earned its spot for “placing power in the hands of the masses” by putting a studio in every content creator’s pocket, Fast Company said.
Advertising agency TBWA\RAAD ranked top in the advertising category for “re-engineering brand experiences.”
Reda Raad, the agency’s CEO, said: “We are very thrilled to be number one in the advertising sector and to be recognized for our commitment to innovation and to the power of disruptive creative ideas on behalf of our clients.”
In the artificial intelligence category, IBM, SAS and Crayon DMCC made the list for “applying AI to everything — from property valuations to detecting mortality risks and reducing carbon emissions.”
In the e-commerce section, which has surged since the start of the pandemic, Noon and Rabbit were recognized. The former was chosen for helping micro-entrepreneurs through its Mahali initiative, which provides Emirati and Saudi entrepreneurs with assistance and support to build their enterprises online.
Delivery company Rabbit was lauded for disrupting the quick-commerce model. It offers the promise of deliveries of groceries and other consumables within 20 minutes and after only a year of operation boasts a success rate of 94 percent.
Other companies on the list include Aramex, Sony PlayStation, Chalhoub Group, L’oreal Middle East, PepsiCo, Barakat Group, Pickl, MonkiBox, Independent Food Company, Technology Innovation Institute, RedSea, Aster DM Healthcare, G42 Healthcare, FIVE Hotels and Resorts, Cafu, GMG, Virgin Mobile UAE, Justlife, Virtuzone, Dulsco, Emirates National Oil Company, Pure Harvest Smart Farms, Peacefull, Huspy, Masdar City, Balinca, ZainTech, NOMADD Desert Solar Solutions, BitOasis Technologies, Mamo, Stripe and Zuhair Fayez Partnership Consultants.