BCG in the News

Bloomberg Radio & Financial Times

A New Map for Global Trade

On Bloomberg Radio and in the Financial Times, BCG’s Tim Figures explains that global trade flows are changing as companies prioritize secure and resilient supply chains over more efficient but potentially risky ones. BCG research forecasts that world trade in goods will grow at 2.8% per year, on average, through 2032, while global GDP will grow at a rate of 3.1%. Figures tells Bloomberg that he expects to see more emphasis on regional trading blocs and less on big global trading relationships that are economically efficient but have environmental and social consequences.

Fortune

How Companies Can Benefit from Web3 in 2024

Writing in Fortune, BCG’s François Candelon, Michael Jacobides, Urs Rahne, and Katie Round emphasize how Web3 can be used to enhance a company’s existing tech stack rather than replace it. While early use cases involving virtual and augmented realities have been overshadowed by the rise of GenAI, Web3’s quiet shift toward more practical applications has proved valuable. “As we move from tech utopia to real use cases, having a clear strategy of when and how to use Web3 is important,” note the authors.

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 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.”