Boston Consulting Group (BCG) announced today global revenue of $12.3 billion in 2023. After very strong growth in 2021 and 2022, BCG saw continued revenue growth of 5% for 2023, against the backdrop of a complex macroeconomic context. 2023 also marked the firm's 20th consecutive year of growth. BCG's global workforce grew to 32,000 at the end of 2023, up from 30,000 a year earlier.
"Demand for BCG accelerated in the second half of 2023 and has further accelerated in the first quarter of 2024,"
said Christoph Schweizer, BCG's CEO.
"Optimizing cost and productivity, integrating AI/Generative AI into our clients' operations and processes, resolving complex technology challenges, and navigating climate change and sustainability topics topped client priorities for the year. GenAI is a strong driver of growth as clients need to move from experimentation to impact. Our deep industry, functional, and AI expertise positions us uniquely to deliver. We remain laser-focused on helping clients solve their biggest challenges."
SPECIFIC HIGHLIGHTS
Artificial Intelligence (AI)
Advising clients regarding AI has been a top BCG priority since 2015. Starting in late 2022, Generative AI (GenAI) became a topic top of mind for CEOs and other senior leaders across all sectors. In 2023, BCG performed hundreds of GenAI projects for industry-leading clients.
BCG X, the innovative technology build and design unit of BCG, has unique capabilities in AI / GenAI, bringing together more than 3,000 BCG tech experts. BCG X has nearly 50 patents and patents pending designed to deliver integrated, end-to-end solutions that maximize impact at scale.
BCG is collaborating with many of the world's leading global technology companies, including AWS, Google, IBM, Microsoft, Salesforce, SAP, and a number of AI-centered enterprises such as OpenAI, Anthropic, Articul8, LangChain, and Palantir, to help clients strategically deploy AI / GenAI and digital solutions.
In 2023, BCG invested heavily to train the firm's consultants to harness AI / GenAI internally, including on a range of proprietary tools for knowledge management and content creation.
Climate & Sustainability
In 2023, BCG completed more than 2,200 sustainable impact and biodiversity projects for over 1,000 clients, bringing expertise to solve problems that benefit both nature and society.
BCG was proud to be the Principal Strategy and Action Partner to COP28, building on the firm's collaboration with the UN Climate Change High-Level Champions since 2020. BCG experts worked alongside public, private, and societal sector leaders to accelerate climate action, with a focus on mitigation, adaptation, and resilience.
BCG is helping clients implement reductions of more than 1 gigaton of CO2 emissions by 2030.
Diversity, Equity, and Inclusion
In 2023, women made up 47% of BCG's global workforce and 39% of BCG's Executive Committee. For a decade, BCG has maintained equal retention rates for men and women globally on both the consulting and business services teams.
The AccessAbility@BCG network grew by more than 90%.
Pride@BCG celebrated its 25th anniversary, and network membership grew by more than 15% in the year.
In the US, 44% of employees and 55% of new hires were from ethnic minority backgrounds.
Sourced from: PR Newswire