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BCG in the News

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    The Wall Street Journal

    Public Investment in Emerging Technologies Needed to Reach Sustainable Energy Goals

    In an interview with The Wall Street Journal, BCG’s Global Chair Rich Lesser discusses the vital role of technology in the shift away from fossil fuels. While solar, wind, and many battery technologies are now cost-competitive, others such as carbon capture and direct air capture will require public subsidies and substantial investments to lower their cost and make them scalable in the future. “We need support to build this infrastructure and make it affordable so that the private sector wants to adopt it and wants to use it,” Lesser says.

    The New York Times

    ChatGPT Helps, yet Worries, Business Consultants

    The New York Times highlights 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, which revealed feelings of unease among ChatGPT users. The study, which was based on an experiment that measured how ChatGPT would affect more than 750 BCG consultants worldwide, determined the tool was best used for creative ideation. However, BCG’s François Candelon explains that three out of four participants worried that using ChatGPT would cause their creative muscles to atrophy.

    The Wall Street Journal

    CFOs Must Prepare for an Unpredictable 2024

    In The Wall Street Journal, BCG’s Paul Goydan emphasizes the importance of cost management for CFOs preparing for the upcoming year. With the cost-of-living and energy crises limiting the ability to raise prices, Goydan says that finding efficiencies and staying profitable will remain a priority in 2024. “The sheer volume of unknowns in their 2024 plans has reached a level that many CFOs haven’t yet seen in their careers,” he adds.

    The Economic Times

    Great Managers Make All the Difference

    In Fortune and The Economic Times, BCG’s Neetu Chitkara, Gabrielle Novacek, and Deborah Lovich underscore the influential role managers play in lowering attrition risk. BCG research found that 28% of employees say they do not see themselves with their current employer within a year—a figure that rises to 56% among those who are dissatisfied with their manager. “The best way to create great managers is through on-the-job coaching, the rhythm and routines, the small things that people do that make a big difference,” Lovich tells Fortune.

    Fortune

    AI Could Be Humanity’s Last Chance to Meet Climate Goals

    In a coauthored article for Fortune, BCG’s Global Chair, Rich Lesser, explains why AI is critical in the collective effort to tackle climate change. A joint report from BCG and Google found that by scaling currently proven applications and technology, AI could mitigate 5% to 10% of global greenhouse gas emissions by 2030. Lesser asserts that policymakers play a central role in harnessing the potential of AI for climate action. “Enabling this technology through smart policy decisions may prove one of the most impactful climate actions we can take today,” he writes.

    Bloomberg

    BCG and Climeworks Strengthen Carbon Removal Partnership

    Bloomberg reports that two years after signing their first carbon removal partnership in 2021, BCG has signed a 15-year agreement with Climeworks to rapidly scale high-quality carbon removal to fight global warming. BCG’s removals purchase of 80,000 metric tons of CO2 is the largest of Climeworks’s corporate buyers to date, and the length of the deal is the longest the firm has signed. “Without carbon removal, net zero is out of reach,” says BCG’s Chief Sustainability Officer, David Webb.

    Forbes

    How Leaders Can Shape Organizational Change

    In Forbes, BCG’s Julia Dhar explains why recognizing employees’ natural resistance to change is crucial for successful organizational transformation initiatives. A BCG survey found that leaders tend to overlook the concept of change aversion when it comes to their employees, often focusing on the business rationale for change without considering the human element. Dhar says leaders who understand people’s natural change aversion will be met with less resistance, more engagement, and better outcomes.

    Live Mint

    The Pandemic May Be Behind Us, but Digital Healthcare Is Here to Stay

    Writing in Live Mint, BCG’s Priyanka Aggarwal and Ketan Kapuria explain that the pandemic sparked a wave of digital transformation across India’s healthcare industry. While health-tech startups have been driving innovation throughout the sector, established players in pharma, insurance, and diagnostics have also been ramping up their digital capabilities. “The Indian healthcare industry, with its many constraints and challenges, has been ripe for technological disruption for a while,” note the authors.

    The Business Times

    Getting Supply Chain Resilience Right in Southeast Asia

    Writing in The Business Times, BCG’s Kazutoshi Tominaga and Hitesh Tak explain that Southeast Asia has emerged as an attractive destination for supply-chain relocation due to geopolitical uncertainties, regional policy measures, and a growing domestic market. BCG research projects that the region’s exports will increase by nearly 90% by 2031, reaching $3.2 trillion. “While the regional opportunity is ripe, understanding the local context is vital in realizing this opportunity,” note the authors.

    Fortune

    The Future 50: Companies Built for Growth in Uncertain Times

    Writing in Fortune, BCG’s Martin Reeves and Adam Job unveil the 2023 Future 50 index, which has annually assessed the long-term revenue growth prospects of more than 1,700 of the world’s largest public companies since 2017. The index, codeveloped by the BCG Henderson Institute and Fortune, is dominated by the tech sector this year, despite it having faced significant headwinds in 2022 and 2023. Not surprisingly, this year’s cohort is driven in part by generative AI.

    The Economic Times

    Improving Workplace Inclusion for Trans Employees

    In The Economic Times, BCG’s Roshni Rathi explains how many Indian companies are taking action to make the workplace more inclusive for transgender employees. A BCG survey found that 90% of transgender employees in India faced negative experiences in the past 12 months due to their gender identity or expression. “Indian corporates are actively evolving with increasing emphasis being placed on DEI,” Rathi says. “This has led to companies embracing a more expansive understanding of gender beyond the binary.”

    Fortune

    ChatGPT’s First Year Is Just the Start of a Permanent AI Revolution

    Writing in Fortune, BCG’s François Candelon, Gaurav Jha, Daniel Sack, Leonid Zhukov, and David Zuluaga Martínez urge business leaders to develop robust AI transformation plans long before the technology becomes mainstream. As the rate of AI advancement outpaces organizational learning, the success of companies’ transformation efforts depends on adopting mature technologies while remaining ready to experiment with rudimentary ones. “For companies, what might seem like discrete sprints of AI technological adoption challenges is, in fact, a high-speed marathon,” note the authors.

    Forbes

    GenAI: The More You Use It, The More You Trust It, But Also Fear It

    In her column for Forbes, BCG’s Deborah Lovich encourages business leaders to carefully consider employees’ concerns about GenAI and communicate a clear response. BCG research found that the more employees—and executives—use GenAI, the more they both trust and fear it. Lovich advises leaders to think carefully about how their employees view GenAI and how it impacts their careers, and to prepare them for “the career implications, the reskilling requirements, the talent flexibility, and, better yet, get them directly involved, working with peers to drive the change for themselves.”

    The Guardian

    Music Therapy Project Aims to Transform Lives of People with Dementia

    In The Guardian, BCG’s Nicole Meissner explains the benefits of Music Can, a free, digital music platform codeveloped by BCG and Universal Music UK, which offers a directory of support, playlists, and music activities for people living with dementia and their caregivers. Music therapy, including recreational group singing, has been found to alleviate symptoms of dementia and even clinically improve depression and quality of life. Meissner explains how Music Can helps provide customized and meaningful care for those who struggle with dementia in a space that is still not very personalized.

    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.