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BCG in the News

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    Automotive News

    Electric Vehicles Are Not Driving Profit

    In Automotive News, BCG’s Andrew Loh and Brian Collie explain why many automakers are failing to meet customer expectations for electric vehicles (EVs). Additionally, BCG research finds that original equipment manufacturers (OEMs) lose about $6,000 on each EV they sell for $50,000, after tax credits. Therefore, automakers may delay next-generation model launches if the vehicles remain unprofitable, and hybrid vehicles may become a more prevalent compromise for consumers hesitant to buy EVs. “For the next five years, [hybrids] deserve as much attention as EVs in terms of focus of investment for OEMs,” Loh says.

    Forbes

    Reflections and Lessons from 3 Years, 80 Columns

    After three years as a contributor, BCG’s Deborah Lovich writes her final Forbes guest column about leadership strategy. Lovich reflects on how she stumbled into being a columnist during the COVID-19 pandemic. She also shares her biggest takeaways from her years writing for Forbes, including the importance of talking to and learning from experts, gathering feedback, and putting her true self into her work despite the possibility of blowback. Many of her columns were inspired by the people around her. “Listening to others enriches your world,” Lovich says.

    Bloomberg

    EU AI Act’s Impact on Businesses

    On the “Bloomberg Talks” podcast, BCG’s Kirsten Rulf speaks about the significance of the European Parliament’s landmark Artificial Intelligence Act. While some businesses are concerned about the administrative burden, Rulf explains that regulation can help mitigate risks and scale AI technology. She asserts that the EU AI Act sets forth a clear framework for businesses to follow during AI implementation. “It’s not stifling innovation—it gives the necessary framework to actually scale innovation,” Rulf states.

    Gulf News

    Fintechs Will Be Next Great Fit for UAE’s Economic Cluster Gameplan

    In Gulf News, BCG’s Christopher Daniel and Christian Oussi explain how the United Arab Emirates (UAE) can utilize business clusters to establish the country as an innovation hub for finance and fintech. With over 650 fintech companies, the UAE is hoping to become a top five global fintech hub. “For the UAE and the broader GCC, this is more than an economic imperative,” write Daniel and Oussi. “It is a path that will secure its place as a leading player in tomorrow’s global economy.”

    CFO

    CEO Outlook on Cost Management in 2024

    In CFO, BCG’s Paul Goydan explains that after years of unexpected disruptions, companies are prioritizing cost management in 2024. BCG research finds that executives are focused on lowering manufacturing and supply chain costs, specifically by optimizing procurement. Goydan elaborates that companies are rewiring supply chains to avoid geopolitical tensions, cost increases, or shipping disruptions. “This is a holistic cost challenge–one that’s built up over five years of very rapid adjustments that companies had to make,” he says.

    CNN

    It Is Still Early Days for GenAI

    On CNN’s “Quest Means Business,” BCG’s Global Chair Rich Lesser shares how companies are implementing AI and GenAI. BCG research revealed that 90% of leaders are waiting for GenAI to move beyond the hype or are experimenting with it in small ways. Lesser explains it is still early days for GenAI: “Technology normally takes years to roll out, but people are making bigger and bigger priorities about leveraging it.” Despite excitement and early experimentation, he states that many companies find it easy to begin GenAI pilot programs but struggle to scale the technology.

    New at BCG

    Boston Consulting Group Partners with Mandiant, Empowering Organizations to Proactively Mitigate Cyber Risk and Improve Resilience

    BOSTON—Boston Consulting Group (BCG), one of the world’s leading management consulting firms, today announced a strategic partnership with Mandiant (part of Google Cloud)—a recognized leader in dynamic cyber defense, threat intelligence, and incident response services—to help organizations improve cybersecurity resilience against the ever-evolving threat landscape.

    Harvard Business Review

    How to Get People to Seize Opportunities at Work

    In Harvard Business Review, BCG’s Julia Dhar, Kristy Ellmer, Lukas Ferner, Jason Guggenheim, and Sana Rafiq explore the barriers that prevent people from making use of opportunities and programs they’re offered at work. The authors identify three common hurdles and provide five steps for business leaders looking to improve the “take-up” rates of products and programs within their organizations by using concepts from behavioral economics. “With a more behaviorally informed approach, corporate executives and senior policymakers can help more people, while also benefiting their own organizations and society at large,” note the authors.

    Forbes

    Flexing the Hybrid Work Muscle

    In Forbes, BCG’s Deborah Lovich encourages companies to find a balance between “fully flexible” remote work and full-time in-office work—or what she calls a “structured hybrid” policy. Although many old-school executives believe that a fully in-office structure is required to build team culture, her research with hybrid work software firm Scoop finds that structured hybrid workers have higher culture ratings. “There’s a lot of new muscle that leaders need to build to make sure they manage well in these different modalities,” says Lovich.

    Bloomberg

    Newfound Optimism Among UK Business Leaders

    In Bloomberg and Reuters, BCG’s Raoul Ruparel elaborates on new research from BCG’s Centre for Growth, which finds that 80% of business leaders surveyed think that the UK business environment will remain the same or improve by the end of 2024. Despite cautious optimism, businesses continue to face obstacles like the costs of energy and of simply doing business in the UK. “These are all very long-term problems, and they require long-term solutions,” Ruparel says.

    The Wall Street Journal

    There’s a Time and Place to Utilize GenAI

    In The Wall Street Journal, BCG’s François Candelon explains how to maximize the value of GenAI, based on a study from BCG, Harvard Business School, MIT Sloan School of Management, the Wharton School at the University of Pennsylvania, and the University of Warwick. In an experiment with over 750 BCG consultants, performance in creative product innovation was 40% higher among those using GPT-4 than those without the tool. However, when participants used the technology for business problem solving, they performed 23% worse than those without GPT-4. “For companies, it is important to understand where you can use [GenAI], where you cannot use it, by experimenting,” Candelon explains.

    Forbes

    The CEO Agenda for 2024

    In Forbes, BCG’s Paul Goydan explains why executives around the world are cautiously optimistic about their ability to weather macroeconomic shifts in 2024. BCG research reports that 63% of C-suite executives believe that their companies are prepared to face global shocks. This year, business leaders are prioritizing cost management initiatives in their manufacturing and supply chains. Goydan says today’s CEOs are better prepared for disruption because they expect it and trust that they can adjust to it.

    Financial Times

    Opportunity and Obstacles for Rental Fashion

    In the Financial Times, BCG’s Jocelyn Wilkinson explains that there is high demand for fashion rental services, but the process must be convenient for consumers. Rental fashion gives consumers greater access to luxury brands, while allowing them to shop sustainability or within their financial constraints. While demand for rental fashion is strong, the business model faces a unique set of challenges to become a profitable market. “The challenges with sizing, infrastructure, and the right inventory have hampered reputations and then consumer confidence in the storyline,” says Wilkinson.

    Fortune

    Workplace Disability Inclusion Must Extend to Everyone

    In Fortune, BCG’s Hillary Wool explains that providing employee-centric programs, mentorships, and accommodations improves the workplace for those with disabilities. BCG research finds that 27% of white men and 33% of white women with disabilities in the US report experiencing discrimination and harassment at work, compared to 41% of BIPOC (Black, Indigenous, people of color) men and 39% of BIPOC women with disabilities. “Business leaders cannot afford to be losing out on the diversity of talent that’s going to be needed to drive towards the future [and] towards the ambitious visions that leaders have,” Wool says.