Mythology is full of transformations — gods take on new forms, animals turn into humans, humans become animals or plants or even constellations. These metamorphoses offer the audience a new insight into the story and its characters, and they also offer greater meaning.
Transformational rebranding can have the same effect for organizations taking a fresh focus on the work, strategies and possibilities available to both clients and colleagues.
And for BCG X, rebranding aligns Boston Consulting Group’s 60 years of business strategy expertise with technological building and design capabilities that will not only meet customer needs but also exceed expectations. The newly positioned organization brings together the business building expertise of BCG Digital Ventures, the AI and machine learning focus of BCG Gamma and the IT design-build capabilities of BCG Platinion.
“Many CEOs I speak with are grappling with the challenge of delivering their business strategy through major digital transformations,” BCG CEO Christoph Schweizer said. “BCG X will turbocharge BCG’s deep industry and functional expertise to enable innovation at scale and deliver successful end-to-end digital transformations.”
“BCG X will turbocharge BCG’s deep industry and functional expertise to enable innovation at scale.”
Schweizer’s confidence in the market’s need for BCG X is supported not only by experience but also by BCG X’s own research. According to a new BCG study titled “Mind the Tech Gap,” 60 percent of companies plan to increase spending on digital transformation in the coming year, with a focus on reimagining business models and investing in sustainability.
“What’s clear from our survey is that most companies are struggling to deliver bottom-line results for their digital transformations and are facing consistent pain points with their tech partners and vendors,” said BCG X global leader Sylvain Duranton. And BCG X is prepared and positioned to support clients in resolving those challenges.
The company plans to add more than 2,000 roles to build a team of 5,000 technologists, scientists, programmers, engineers and designers across its global footprint in upcoming years. According to Duranton, as BCG X expands, it is becoming the “natural home for the world’s best technology talent who want to work with the world’s largest and most complex organizations.”
Deep Expertise Across BCG X
As a partner in transformation, “BCG X is a multiplier of our clients’ technology teams, working in close collaboration to bring our pool of leading talent in AI, software engineering, digital growth, green and deep tech,” said Chief Marketing Officer Jessica Apotheker.
With additional expertise in design and corporate ventures, the BCG X team is ready to bring ambitious digital visions to market for clients — while continuously improving the skills and expertise of its team members to stay on the cutting edge.
“We need to connect the dots here and start materializing the promise of technology,” Duranton said. “And I think that is what will happen in the next five to 10 years. I’m positive that the world will be very different.”
For Duranton, advanced AI, blockchain and synthetic biology are opening doors to the future for BCG X and its clients.
“Combining the three can solve the biggest challenges for companies — and for the world,” he said.
And BCG X is already at work doing just that.
CASE STUDY: TRANSFORMING OUTCOMES FOR SMALLHOLDING FARMERS
In partnership with a multinational agribusiness giant, BCG X launched a profit-for-purpose venture focused on improving the livelihoods of smallholding farmers in rural, agriculturally-centered economies.
The venture utilizes machine learning technology to power services including a credit facility, an agricultural supply e-commerce store, an advisory engine offering support for successful and sustainable growing and an app allowing farmers to sell their products directly.
The results? While driving profit for this new venture, the outcomes for farmers are even more impressive. According to BCG X, “Most farmers who have used the platform have increased their crop yields by up to 40 percent and their incomes by as much as 25 percent.”
The Work Ahead
As BCG X continues to pioneer digital futures for clients, the organization is expanding and strengthening its team.
Duranton is focused on enhancing collaboration across disciplines “to serve clients in an even more integrated and seamless way.”
He believes that partnering with BCG X is the key to success for clients seeking full-scale digital transformation. “Joining forces helps,” he told WIRED Brand Lab. “Our clients … are our partners — we believe in the notion of multiplying talents to multiply your impact.”
A VISION FOR SCALING AI
As BCG X looks to the future, integrating AI at scale is key to transformation for clients across industries. Recent work has included accelerating telecom marketing AI, integrating AI across the entire value chain of a global fashion retailer and supporting businesses in verifying low-carbon and sustainable food production at source.
Together with a conservation organization, BCG X launched a platform designed to verify claims about ethics and environmental impact across the supply chain. Verifying claims about sustainability and ethical production not only support producers and the environment but also allow consumers to feel secure in the consumption choices they are making every day.
This platform provides a model for how BCG X can scale AI, blockchain and machine learning technologies while drawing on team expertise ranging from business strategy to deep tech to sustainability — and a vision for what is possible as the team moves forward.