Summarize this content to 2000 words in 6 paragraphs in Arabic Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.The chief executive of BCG has said the $12bn consulting firm expects to generate a fifth of its revenues in 2024 from helping corporations integrate artificial intelligence into their businesses, a share it projects will reach 40 per cent by 2026.Christoph Schweizer told the Financial Times that AI and generative AI were \u201ca huge boost\u201d to revenues in the past year as companies move from experimenting with the technology to \u201cat-scale deployment\u201d. BCG is working with global tech giants and AI companies \u2014 from Microsoft and Google to OpenAI and Anthropic \u2014 to integrate their technology into company operations and processes. It is also training board directors and executive teams who increasingly see it as a business priority.\u201cWe have never seen a topic become relevant as rapidly as Gen AI,\u201d said Schweizer, who added that he personally uses large language models to take minutes for meetings, write emails and summarise documents. The significant share of BCG\u2019s revenues coming from AI advisory work, which has not been previously disclosed, highlights how consulting firms are\u00a0seeking to cash in on the generative AI boom. A jump in sales at BCG\u2019s AI division also partly offset a slowdown in other parts of the business last year amid a tougher economic backdrop. BCG\u2019s total revenues climbed just 5 per cent in 2023 to $12.3bn, the firm\u2019s weakest growth in at least seven years. However, Schweizer said the consulting market \u201cfeels more positive\u201d this year, adding that BCG\u2019s sales were growing \u201cin the teens again\u201d percentage-wise, during the first quarter of 2024. From customer service chatbots to data migration and overhauling research and development in healthcare, Schweizer said BCG is helping companies use AI to cut costs and increase productivity. \u201cWe are seeing an amazing uptake of use cases,\u201d he added. Schweizer claimed rivals were behind BCG on AI advisory work because the firm identified it early as a potential driver of growth. BCG, which started investing in its AI business in 2015, has about 3,000 employees in its BCG X technology and design division. It has also rolled out AI tools to its 33,000 employees, helping them manage company data, write text, summarise information and produce slides. \u201cI am the most vocal, and I would say also ruthless leaders, when it comes to telling my team that it\u2019s nice to go to our clients and tell them they have to change, but we have to change BCG just as much,\u201d said Schweizer. \u201cWe are taking our own medicine.\u201dThe firm was part of a Harvard Business School study that monitored the impact OpenAI\u2019s GPT-4 model had on its employees. Consultants who were assigned the AI tool were more productive than those who were not. They worked quicker and work was of a higher quality.Schweizer said advising on climate change and sustainability projects was still the firm\u2019s fastest-growing practice in 2023, even as business leaders were less vocal on environmental, social and governance issues compared with a few years ago, referring to the backlash in some countries, including the US, against stakeholder capitalism.\u201cAre there parts of the world where CEOs would rather take a lower profile on their ESG\u2009.\u2009.\u2009.\u2009and climate agendas? Absolutely, yes,\u201d he said. \u201cBut that doesn\u2019t mean that they are not committed to it\u2009.\u2009.\u2009.\u2009The rhetoric is a lot more cautious.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.The chief executive of BCG has said the $12bn consulting firm expects to generate a fifth of its revenues in 2024 from helping corporations integrate artificial<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-25672","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/25672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=25672"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/25672\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=25672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=25672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=25672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}