Press Releases

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    A New Year’s Resolution for Banks: Unlock $7 Trillion in Value

    Bank Valuations Are a Serious Concern: 75% of Bank Equity Traded Below a Price-to-Book Ratio of 1.00 in 2022, and Current Levels Point to a Cautious Outlook among InvestorsBanks’ Share of Total Financial Assets Has Been Steadily Declining in Almost All Economies; Nonbanks Have Been Taking Share, Especially in Markets Where Many Banks Have Unsustainable Financial ReturnsBy Taking a New Approach, Banks Can Create at Least $7 Trillion in Value through Strategic Changes, Consolidation, New Partnerships, Simplified Operations, and Embracing Platform-Based OrganizationBanks Must Set a Bold Agenda—One That Promotes Growth, Dramatically Improves Productivity, and Attracts CapitalExecutive Teams Need to Step up and Embrace the Challenge and the Need for Radical ChangeGovernments and Regulators Both Have a Key Role in Establishing a Vibrant Banking Industry Without Compromising Systemic Stability With a Range of Complementary Measures Aimed at Enhancing Vitality of Banks in Their JurisdictionsBOSTON—Banks globally should make clear and forceful resolutions for the new year and work with stakeholders to fulfill essential goals: enabling economic growth and financing the climate transition. While banks are unlikely to return to the profitability levels and valuations that existed prior to the global financial crisis, they face a compelling case for change: to earn more than their cost of equity on a sustainable basis, increase valuations, and improve shareholder returns.

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    Ninety Percent of CEOs Are Waiting for GenAI to Move Past the Hype or Experimenting in Small Ways

    New BCG Survey of More Than 1,400 C-Suite Executives in 50 Markets Reveals that 66% of Leaders Are Ambivalent or Dissatisfied with the Progress Their Companies Have MadeWinning Companies Are Upskilling, But that Percentage Is Still Only 6%Big Gaps Between Winners and Observers Are Already Emerging, With Organizations that Plan to Invest More than $50 Million into AI and GenAI this Year 1.3 Times More Likely to See Cost Savings in 2024BOSTON—Generative AI (GenAI) exploded into the public consciousness in 2023, promising to transform the way business functions. Despite the potential, however, leaders are struggling to convert hype into reality. According to a new report by Boston Consulting Group (BCG), 66% of executives are ambivalent or outright dissatisfied with their organization’s progress on AI and GenAI so far, citing three primary reasons for their dissatisfaction: a lack of talent and skills (62%), an unclear AI and GenAI roadmap and investment priorities (47%), and absence of strategy regarding responsible AI and GenAI (42%).

    1PointFive and Boston Consulting Group Announce Strategic Agreement for Direct Air Capture Carbon Removal Credits

    HOUSTON—1PointFive, a carbon capture, utilization, and sequestration (CCUS) company, and Boston Consulting Group (BCG), one of the world’s leading management consulting firms, today announced that BCG agreed to purchase 21,000 metric tons of carbon dioxide removal (CDR) credits from 1PointFive over three years. BCG is collaborating with 1PointFive through consulting services, including to develop business processes that support Direct Air Capture (DAC) CDR credits.

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    New Global Initiative to Advance Digital and AI-Driven Transformation of Healthcare Systems

    Digital transformation and new tech tools can provide scalable solutions to systemic challenges straining global healthcare system, new research findsNew World Economic Forum Digital Healthcare Transformation Initiative, launched in collaboration with Boston Consulting Group will accelerate public-private collaboration on digital health, data, and artificial intelligenceNew report by the World Economic Forum and BCG highlights how five critical enablers could revolutionize healthcare and counter the interconnected challenges it is facing globallyDavos-Klosters, Switzerland—A new World Economic Forum initiative, unveiled today, will unlock the transformative potential of digital tools and new technologies such as artificial intelligence (AI) for healthcare, and the critical importance of concerted public-private collaboration in driving their global adoption.