BCG in the News

Financial Times

Fortunes Rising Fast in Asia-Pacific

The Financial Times spotlights BCG’s 2023 Global Wealth Report which reveals that personal financial assets in Asia-Pacific are predicted to rise by an average of 7.8% annually over the next five years, well above the 5.3% global average. As a result, multinational wealth management hubs in Asia will grow faster than their North American or European counterparts. The report’s authors encourage leading wealth managers around the world to continue investing in the emerging booking centers in Asia.

The Economic Times

Global Companies Flock to Invest in India

In The Economic Times, BCG’s Global Chair Emeritus Hans-Paul Bürkner explains that with its enormous population and fast-growing economy, India is well positioned to increase its GDP by 7%–8% in the next three to five years. Bürkner notes that although more investment is needed in India’s human talent and infrastructure, many global Fortune 500 companies are looking to scale their plans in the country. “In India, there is enormous energy, enormous ambition, and people really have high expectations, but they are also working very hard for it,” he says.

Yahoo! Finance

The Future of US Inflation

In a video interview on Yahoo! Finance, BCG’s Global Chair Rich Lesser says that US Federal Reserve (Fed) Chair Jerome Powell’s remarks at this year’s Jackson Hole Economic Symposium were more “cautious than hawkish.” Lesser emphasizes that economic uncertainty remains, but he is confident that the Fed will be dependent on data to guide its decisions in the coming months—even if the Fed’s 2% inflation target is not immediately met. “It doesn’t change that 2% is the target, but it does say that an obsession to get to 2% fast is not necessarily serving the broader economy,” he notes.

Forbes

If You’re Serious About Diversity, Here’s Where to Find the Talent

In her column for Forbes, BCG’s Deborah Lovich explains that US companies are missing out on top recruits by not establishing relationships with Historically Black Colleges and Universities, Tribal Colleges and Universities, and Hispanic-Serving Institutions. Lovich insists that achieving diversity, equity, and inclusion (DEI) in the workforce takes more than just participating in a job fair, and that companies must commit to forging serious partnerships with these schools. “Talking a good DEI game and playing a good DEI game are two distinctly different activities,” she says.

CNBC "Squawk Box"

Building Competitive Advantage Amidst Uncertainty

On CNBC “Squawk Box,” BCG’s Global Chair Rich Lesser emphasizes the importance of investing in people and innovative technologies to build sustained competitive advantage. Lesser says that he remains optimistic about the future, noting that the world economy has shifted from a period of enormous uncertainty and moderate change to a period of moderate uncertainty and enormous change. “I think most companies are recognizing that in a world of rapid change, your workforce is your key asset, and upskilling them is huge,” he says.

The Business Times

Growth or Green? Indonesia Can Do Both

In a coauthored guest column for The Business Times, BCG’s Marc Schmidt explains that Indonesia must invest in the development of accessible green funding, green talent, and supportive regulatory frameworks to create a green growth economy. A joint study from BCG and AC Ventures found that Indonesia could unlock a $400 billion annual green growth windfall by 2030, if stakeholders across all sectors participate in this transition. “We all have a role to play in delivering on this opportunity, from government decision-makers to citizens on the ground,” he writes.

Fortune

Hybrid Work Is Not One-Size-Fits-All

In Fortune, BCG’s Deborah Lovich emphasizes the importance of managers and employees working as a team to develop hybrid schedules that build flexibility, trust, accountability, and productivity. A recent BCG survey of more than 1,500 office workers worldwide found that hybrid work is not a one-size-fits-all endeavor, and flexible working models are critical to retaining top talent. Lovich says that managers and teams should be empowered to decide how they work best, explaining that “what makes people the least unhappy is when we’re deciding together as a team.”

Live Mint

G20 and Beyond: Why India Can Help Further Deepen Africa’s Integration with the Global Economy

In a guest column for Live Mint, BCG’s Sumit Sarawgi and Patrick Dupoux explain how India can help deepen Africa’s diplomatic and economic integration within the global economy. Given its leading and hosting role for this year’s B20 Summit, India’s journey could be used as a valuable blueprint for driving inclusive growth and sustainable progress across Africa. “Embracing potential is not just Africa’s opportunity, but a collective global imperative to nurture a continent that holds the key to a brighter future for us all,” note the authors.

Financial Times

Improving Resilience by Understanding Failure

In the Financial Times, BCG’s Martin Reeves emphasizes that businesses should take time to learn from both success and failure in an organizational crisis. While failure offers the chance to recalibrate and learn from mistakes, ego or embarrassment may prevent business leaders from adequately analyzing the specifics of what has gone wrong. To improve resilience, empirical evidence should be reviewed to determine how well a company responded to the initial crisis, and which organizational structures and capabilities proved a help or hindrance in the recovery, Reeves says.

China Daily

Generative AI Gains Ground in Banking

In China Daily, BCG’s David He and Sally Sun explain that generative AI has the potential to improve operational efficiency within the banking industry. A BCG report asserts that before the technology is promoted for large-scale commercial use, safeguards must be put into place to ensure that data is used responsibly and remains secure. “It is important for banks to establish a responsible AI system and ensure the fairness, accountability, transparency, privacy, and security in the application of generative AI,” says Sun.

New Straits Times & The Star

Measurable DE&I Initiatives Necessary for Business Success

In New Straits Times and The Star, BCG’s Nurlin Salleh emphasizes the importance of establishing measurable targets for DE&I initiatives. She explains that BCG built the BLISS (Bias-Free, Leadership, Inclusion, Safety, and Support) Index to influence its own best practices, measure the success of its initiatives, and ensure that its employees feel comfortable raising concerns at work. “When they can speak up, they are able to reach out and have allies so that they can get the support that they need,” she says.

Fortune

Optimizing the Retail Sector with Cloud Tech

In Fortune, BCG’s Sebastian Bak emphasizes the benefits of cloud computing technology for retailers. In an industry that frequently faces unpredictable demand surges, cloud technology has an unmatched ability to forecast pricing and inventory models, accurately manage supply, and holistically improve the customer experience. “Today it is almost impossible to be a sophisticated pricing retailer without having cloud infrastructure in the background,” he says.