TAIPEI (Taiwan News) — Taiwan's Foxconn has been named one of Time magazine’s 100 most influential companies and also described as one of the most important companies in artificial intelligence, CNA reported Friday.

Foxconn was listed in the innovators category of the Time 100 Most Influential Companies list. The company was also included in Time’s inaugural list of the world's 100 leading industrial companies.

“The recognition affirmed the company’s goal of becoming a world-class company driven by artificial intelligence,” Foxconn Chair Liu Yang-wei (劉揚偉) said. He added that Foxconn would continue working with global customers and partners while empowering employees and creating a positive social impact.

Time recognized Foxconn for its strengths in precision manufacturing, vertical integration, and next-generation technologies. The company has reported record revenues and profits while strengthening its position in the information and communications technology industry and AI server market, per UDN.

This is the sixth year Time has published its list of the world’s most influential companies.