BCG in the News

Fortune & Australian Financial Review

There’s a Time and Place for Generative AI

Fortune and the Australian Financial Review highlight a recent study from BCG, Harvard Business School, MIT Sloan School of Management, the Wharton School at the University of Pennsylvania, and the University of Warwick. The study determined that around 90% of BCG consultants improved their performance when using OpenAI’s GPT-4 for creative ideation. However, performance faltered when it was used for problem solving, with participants performing 23% worse than those who did not use the tool. BCG’s North America Chair, Sharon Marcil, tells Fortune that companies “need to embrace GenAI now to develop the muscle,” but cautions that leaders must be responsible for ensuring the technology is used in the right way and for the right tasks.

CNN International

Economic Uncertainty Puts a Premium on Resilience

On CNN International’s Quest Means Business, BCG’s Global Chair Rich Lesser explains that increased uncertainty caused by geopolitical tensions and inflation have put a premium on resilience. Although he believes that the US is headed toward a soft economic landing, Lesser says that business leaders must be prepared to deal with the hard challenges that come along with it.

The Economic Times

India’s Manufacturing and Sourcing Advantage

In The Economic Times, BCG’s Ravi Srivastava notes that as many global companies reconfigure their manufacturing and sourcing strategies due to geopolitical uncertainty, India is emerging as a future export manufacturing powerhouse. A BCG report found that exports from India to the US increased by $23 billion—a 44% rise from 2018 to 2022. “For the past two decades, we have heard talk of India’s potential in manufacturing, often with a lingering question mark. Now, it seems that many of the pieces of the puzzle are falling into place,” Srivastava says.

Europa Press | Portal TIC

La IA generativa en Call Centers generará ahorros de hasta un 60%, según BCG

La consultora estratégica Boston Consulting Group estima que las herramientas de Inteligencia Artificial generativa conllevarán unos ahorros de hasta un 60 por ciento para 'call centers' de venta y atención a clientes, añadiendo un "valor diferencial" respecto a otras tecnologías utilizadas anteriormente gracias a un "alto de grado de calidad" y a su capacidad para "estandarizar la experiencia con el cliente sin perder la posibilidad de ofrecer un alto grado de personalización" apunta Jesús de la Herrán, Managing Director and Partner de BCG.

Bloomberg

No Tradeoff Between AI Tech and Talent

In an interview with Bloomberg, BCG’s Mai-Britt Poulsen explains that continued investment in people and processes is the key to unlocking value from generative AI in the workplace. Although AI has the potential to alter the recruiting landscape, many companies are just as interested in upskilling their workforce to utilize new technology as they are in hiring new talent. “With generative AI, many companies are asking what are the skills that we need going forward and how do we upskill? Tech is becoming more and more important, but so is talent,” she says.

Australian Financial Review

Five Ways to Beat the Odds on Digital Transformation

In a guest column for Australian Financial Review, BCG’s Michael Schniering explains how companies that succeed in creating competitive advantage with digital, data, and AI triple their shareholder returns. However, BCG research has found that up to 70% of digital transformations fail to deliver on their objectives. Schniering outlines five ways to avoid this outcome. “By moving beyond the ‘what’ of digital transformation and focusing on ‘how’ to deliver, your next effort could be one of the 30% that succeed,” he writes.

The National

Global Wealth to Rebound by 5% in 2023

In The National, BCG’s Markus Massi and Mohammad Khan explain that despite declining by 4% in 2022, global wealth is expected to rebound in 2023 by 5% to reach $267 trillion. BCG research has found that an improving macroeconomic outlook, combined with strong growth in Asia-Pacific and the Middle East, contributed to this year’s wealth rebound. “Growth in financial wealth in emerging markets is expected to outperform developed markets until 2027,” notes Massi.

Forbes

Flexible Working Models Increase Employee Satisfaction

In Forbes, BCG’s Deborah Lovich encourages managers to have open conversations with their teams about hybrid working models and to experiment with different options until they find what works best for them. A BCG survey of more than 1,500 office-based workers around the world found that the closer the working policy is aligned to the specific dynamics of a team and its workload, the greater the employee satisfaction. “Bring it down to the team level, know your work, know your team, and don’t be afraid to experiment with different models,” Lovich says.

Live Mint

Enhance Board Effectiveness to Acquire a Competitive Advantage

In a coauthored guest column for Live Mint, BCG’s Abheek Singhi outlines four key ingredients to enhance the effectiveness of a company’s board. By ensuring clearly defined roles, diverse composition, effective meeting schedules, and members who are contextually familiar with the company, boards can become a source of competitive advantage in today’s volatile work environment. “Today’s board is not just a regulatory requirement, but can be a strategic asset for the company,” writes Singhi.

Gulf News

Early Movers Will Have Clear Advantages in Gulf’s Green Hydrogen Push

In a guest column for Gulf News, BCG’s Erich Suess and Javier Doblas explain that as Gulf Cooperation Council (GCC) countries undertake some of the world’s most advanced low-carbon hydrogen projects, banks that help fund these ambitious projects will gain a clear early-mover advantage. The authors state that, as early movers, banks should proactively act as ecosystem enablers and establish relationships across the value chain by bringing together key stakeholders, “actively helping to create, shape, and win future opportunities.”

NPR

Finding Balance in Hybrid Work

Talking with NPR, BCG’s Deborah Lovich emphasizes the importance of managers and employees having open conversations about hybrid work policies in the post-pandemic world. A BCG survey of more than 1,500 global office workers found that employee compliance and satisfaction were higher when their schedules could vary each week, as opposed to having required in-office days. Lovich explains that people are not used to talking about how they should work each day, but enormous change in the work landscape has made it a necessity.

Business Standard

India’s Road to a $10 Trillion Economy

In Business Standard, BCG’s Global Chair Emeritus Hans-Paul Bürkner explains that India is on track to become a $10 trillion economy by 2030. He shares that with consistent investments in areas like infrastructure, health care, and education, and a more open trade policy, India is positioned to grow its GDP at 7%–8% over the next three to five years. “India has maintained a strong growth trajectory over many years, not just in recent times,” Bürkner notes.