BCG in the News

Bloomberg Businessweek

Ahead of COP28, Climate Talks Are in Full Swing

On Bloomberg’s “Businessweek” podcast (audio—10:40 mark), BCG’s Global Chair Rich Lesser explains that the technology needed for companies to decarbonize exists, but is still more expensive than the technology built around a basic fossil fuel economy. He notes that economic incentives, like the Inflation Reduction Act, may be key to encouraging governments and businesses to invest in more sustainable technologies. “In many cases, the economics aren’t as clear as they need to be on shifting to those new technologies,” Lesser says.

CNBCTV-18

In India, Consumer Spending Is Resilient

In CNBCTV-18, BCG’s Nivedita Balaji explains that Indian consumers are among the most optimistic consumers globally—and this confidence is translating into a willingness to spend. BCG research found that 36% of consumers in India plan to increase their spending in the next six months, which is significantly higher than the global average of 17%. Balaji attributes this positive spending outlook to young, working adults who are looking to spend on experiences and big-ticket items.

News Alert

BCG at COP28

Climate change is a global problem requiring a global response. COP28 comes at a pivotal moment for the planet. BCG’s climate experts will join leaders from around the world to strengthen current collaborations and work toward innovative solutions to the pressing challenge of climate change.

The Standard

Retailers Experiment with Generative AI and Augmented Reality

In The Standard, BCG’s Ajay Chowdhury explains that retailers are experimenting with virtual changing rooms and AI-generated models to enhance the customer experience and boost product advertising in a cost-effective manner. Despite recent technological advances, he says that retailers do not currently have the computing power to make virtual changing rooms a commercial reality. “For a 2D static image in a magazine, it’s very doable,” notes Chowdhury. “But 3D avatars in virtual changing rooms or in a video ad? Not for a long time.”

CNBC Squawk Box Asia

GenAI Is Set to Transform the Banking Sector

On CNBC’s “Squawk Box Asia”, BCG’s Stiene Riemer explains that the combined use of predictive and generative AI has the potential to produce large-scale transformations in the banking sector. While many banks have used predictive AI for over a decade, she notes that GenAI will complement these traditional strategies and allow banks to build upon existing success. “AI will never do everything on its own well. If we think about it, AI works best if it is complemented by the human—and especially in those areas that fall outside of the area of expertise of AI,” Riemer says.

Fortune

How AI-Enabled KPIs Can Help Leaders Align Their Companies—and Get Better Results

Writing in Fortune, BCG’s François Candelon, Michael Chu, Gaurav Jha, and Shervin Khodabandeh explain how executives can leverage AI to better understand what drives performance. A joint survey by BCG and MIT Sloan Management Review found that leaders who use AI to prioritize, organize, and share key performance indicators (KPIs) see improved alignment across functions, which leads to better overall results. “Driving strategic alignment within their organization is an increasingly important priority for senior executives,” note the authors.

Forbes

How to Make Sure Your Employees Enjoy Their Work

In her column for Forbes, BCG’s Deborah Lovich urges business leaders to experiment with GenAI to reduce the tediousness of administrative work and allow more time for employees to connect. A BCG survey found that activities involving collaboration with others and team building are most closely linked with enjoying work, and those who enjoy their work are 40% less likely to look for another job. “Companies everywhere are generating flexible new technology and GenAI-driven ways to deliver customer value and productivity. The data tells us that we need to add joy at work to the list of goals as well,” Lovich writes.

Business Standard

Despite Headwinds, M&A Activity Expected to Pick Up in 2024  

Business Standard highlights the 20th edition of BCG’s global M&A Report, which revealed that deal volume decreased by 14% and deal value fell by 41% through the end of August 2023 compared to the same period in 2022. Although challenges for dealmakers remain, the report found that M&A activity appears to be stabilizing as sustainability and digital initiatives remain pivotal drivers for both acquisitions and divestitures. “We’re relatively optimistic about the outlook for 2024, as deal activity shows promising signs of recovery,” says BCG’s Jens Kengelbach.

City A.M.

Retailers: To Remain Competitive, Embrace GenAI

In City A.M., BCG’s Ajay Chowdhury urges retailers to incorporate GenAI into their online shopping platforms to remain competitive against increasingly powerful e-commerce forces. Beyond personalized shopping recommendations, GenAI can also provide enhanced customer service, increased fraud protection, optimized supply chain routes, and better inventory management. “We’re certainly recommending to all our clients that they start experimenting with this. And you will get left behind if you don’t do it,” Chowdhury says.

Cinco Días

Las startup lideradas por mujeres han recibido más financiación

Una investigación reciente desarrollada por la firma Boston Consulting Group (BCG) junto con SISTA desafía el pensamiento generalizado de que las mujeres al mando de start-ups tienen éxito principalmente cuando trabajan conjuntamente con hombres. En el caso de España, se presenta una interesante variación a esta percepción.

Vogue Business & Business of Fashion

Fashion Industry Faces Massive Shortage of Sustainable Raw Materials

In Vogue Business and Business of Fashion, BCG’s Jocelyn Wilkinson explains that fashion brands must dramatically increase their use of sustainable raw materials to meet their decarbonization targets and comply with increasing sustainability regulations. According to a report from BCG, Quantis, and Textile Exchange, the fashion and apparel industry could face a sustainable raw materials shortage of 133 million tons by 2030 if brands do not invest in these materials and incentivize suppliers to change their operations. “I do think this is a business model change,” says Wilkinson.

The Wall Street Journal & USA Today

BCG’s Game Changer Is a National Bestseller

BCG’s new book, Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society, is a national bestseller, debuting at #4 on The Wall Street Journal’s Hardcover Business Bestselling Books, and at #18 on USA Today’s Best-Selling Booklist. The book, authored by BCG’s Jean-Manuel Izaret and Arnab Sinha, highlights an approach to strategic pricing that promises winning strategies for greater and fairer value to the buyer and seller, and to society at large.