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    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.

    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.