Press Releases

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    Global Financial Wealth Market Sees First Decline in More Than a Decade

    Global Financial Wealth Falls 4% to $255 Trillion in 2022, but a 5% Rebound Is Expected in 2023The Value of Real Assets Rose by 5.5% to $261 TrillionAbsolute Global Wealth Rose by 1% Overall, to Reach $516 TrillionBCG’s 23rd Annual Global Wealth Report Highlights How Wealth Managers Can Reset the Course to Create Sustainable GrowthBOSTON—The value of global financial wealth shrank for the first time in 15 years in 2022, declining by 4% to $255 trillion. Drivers include spiking inflation, the resulting rise in interest rates, and poor equity market performance against the backdrop of geopolitical uncertainty sparked by the war in Ukraine. However, the decline is expected to be short lived, with a 5% rebound to $267 trillion expected in 2023.

    Boston Consulting Group Enters 40,000-ton Carbon Removal Credit Agreement with CarbonCapture Inc.

    BOSTON—Boston Consulting Group (BCG), one of the world’s leading management consulting firms, and CarbonCapture Inc. (CarbonCapture), a leading direct air capture (DAC) company, announced today a partnership that covers both BCG’s purchase of CarbonCapture’s atmospheric carbon dioxide removal services as well as an intention to support CarbonCapture’s business strategy through BCG’s management consulting services.

    Responsible AI at a Crossroads - Hero Rectangle

    Emerging AI Risks Underscore Urgent Need for Responsible AI; More than 70% of Organizations Are Struggling to Keep Up

    New Research by MIT Sloan Management Review and Boston Consulting Group Examines the Risks Stemming from Internally and Externally Developed AI Tools53% of Companies Exclusively Rely on Third-Party AI Tools, Exposing Them to Unmitigated RisksOrganizations With a CEO Who Takes a Hands-on Role in Responsible AI Efforts Report 58% More Business Benefits Than Organizations With a Less Hands-On CEOBOSTON—The artificial intelligence (AI) landscape has changed dramatically over the past year with the swift adoption of generative AI (GenAI), making it more difficult for organizations to be responsible with the technology and putting pressure on Responsible AI (RAI) programs to keep up with continuous advances. While more than half (53%) of organizations rely exclusively on third-party AI tools, having no internally designed or developed AI of their own, 55% of all AI-related failures stem from third-party AI tools, according to new research by MIT Sloan Management Review (MIT SMR) and Boston Consulting Group (BCG).