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BCG in the News

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    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.

    ETEnergyWorld

    Companies Must Double Down to Reduce Carbon Emissions

    In ETEnergyWorld, BCG’s Hubertus Meinecke explains that many companies are lagging in the race to lower their carbon footprint due to ongoing macroeconomic uncertainty and limitations in capital. A new survey from BCG and CO2 AI found that only 14% of companies have reduced their emissions in line with their targets over the last five years. “There are encouraging signs of progress in measuring and reducing emissions, but it is crucial that businesses redouble their efforts,” Meinecke says.

    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.”

    Khaleej Times

    Technology to Spur UAE Payments Sector Growth

    In the Khaleej Times, BCG’s Mohammad Khan and Lukasz Rey explain that the United Arab Emirates’ early adoption of GenAI-powered technologies will play a large role in the growth of its payments industry. BCG research forecasts that revenues in the sector will increase by 55% through 2027, creating a unique position for UAE-based payments providers to redefine their roles and services. “This evolution will improve customer pathways and offer specialized solutions, resulting in heightened service quality and profit growth,” says Khan.

    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.

    The Economic Times

    Digital Health Care on the Rise in India

    In The Economic Times, BCG’s Priyanka Aggarwal explains that post-pandemic, accessing health care digitally has become a new habit for Indian consumers. Joint research from BCG and B Capital found that India’s digital health care industry could generate $37 billion in revenue by 2030—up from $2.7 billion in 2022. Aggarwal says that partnerships on the supply side, such as business-to-business or innovative insurance plays, have led to an evolution of ecosystems instead of siloed business models across the industry.

    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.

    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.

    Bloomberg

    GenAI’s Long Runway

    On Bloomberg’s Tech Disruptors podcast, BCG’s Global Chair Rich Lesser predicts that as business leaders regain confidence in the economy and the GenAI revolution accelerates, there will be a big push for innovation in the coming years. Lesser encourages leaders to utilize AI to rethink function operations, bring new capabilities to customers, and build competitive advantage. “I have been doing this for 35 years, and I have never seen a technology have such a fundamental change in the dialogue with clients in such a short space of time,” Lesser says.