Matthew Kropp

From ChatGPT’s release to company-specific #GenAI programs in just a few years is a phenomenal leap forward. BCG’s GENEOM project is a fascinating case study displaying the potential conversational AI has to revolutionize day-to-day working. Being on the ground as this kind of groundbreaking technology is rolled out is a unique opportunity – and it will be interesting to see the role future collaborations will play in further accelerating progress. Is your business investing in proprietary #AI?"

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✨Generative AI is poised to transform nearly every aspect of the life sciences industry – but success at scale hinges on a clear gen AI strategy, dedicated budget, and custom solutions. In this new article, my McKinsey colleagues surveyed more than 100 pharmaceutical, biotech, and medical-device leaders to better understand their activity related to commercial applications of gen AI. Here are 4 insights they uncovered: ☑ At-scale adoption remains limited ☑ The early impact is promising ☑ Purposeful prioritization is a major differentiator ☑ Companies plan to build their own gen AI capabilities The biggest takeaway of all? Commercial life sciences leaders with a defined gen AI strategy and dedicated budgets were twice as likely to see meaningful results than those without them. Learn more here: https://lnkd.in/ddBmCy7i #commerciallifesciences #lifesciences #genAI #innovation

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✨Generative AI is poised to transform nearly every aspect of the life sciences industry – but success at scale hinges on a clear gen AI strategy, dedicated budget, and custom solutions. In this new article, my McKinsey colleagues surveyed more than 100 pharmaceutical, biotech, and medical-device leaders to better understand their activity related to commercial applications of gen AI. Here are 4 insights they uncovered: ☑ At-scale adoption remains limited ☑ The early impact is promising ☑ Purposeful prioritization is a major differentiator ☑ Companies plan to build their own gen AI capabilities The biggest takeaway of all? Commercial life sciences leaders with a defined gen AI strategy and dedicated budgets were twice as likely to see meaningful results than those without them. Learn more here: https://lnkd.in/eSSH2pFf #commerciallifesciences #lifesciences #genAI #innovation

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✨Generative AI is poised to transform nearly every aspect of the life sciences industry – but success at scale hinges on a clear gen AI strategy, dedicated budget, and custom solutions. In this new article, my McKinsey colleagues surveyed more than 100 pharmaceutical, biotech, and medical-device leaders to better understand their activity related to commercial applications of gen AI. Here are 4 insights they uncovered: ☑ At-scale adoption remains limited ☑ The early impact is promising ☑ Purposeful prioritization is a major differentiator ☑ Companies plan to build their own gen AI capabilities The biggest takeaway of all? Commercial life sciences leaders with a defined gen AI strategy and dedicated budgets were twice as likely to see meaningful results than those without them. Learn more here: https://lnkd.in/eHEQpxzQ #commerciallifesciences #lifesciences #genAI #innovation

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Bain research reveals that only 12% of major change programs produce lasting results in business transformations. In his latest Forbes blog, David Michels breaks down what sets these leaders apart in successful corporate transformations. #TransformationsThatWork

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The benefits of AI are too substantial to deny, and it will continue to evolve and elevate the way we do business and live our lives. I am thrilled to share Alvarez & Marsal's latest insights by Anil Kumar and Jeff Bilyea, exploring how the transformative powers of AI tools and generative AI are reshaping customer interactions and driving efficiency. Before you can run, you have to crawl and walk (I promise that's funny if you read the article 😂 ) Check out their insights at https://lnkd.in/eQzPmJ3p #PrivateEquity #GenAI #TechInnovation

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There is a huge demand for major capital projects coming from AI, renewables, manufacturing and general electrification - this article from Utility Dive highlights recent work from my colleagues on how to drive a step change in major capital project execution! #energytransition #Bain #majorcapitalprojects

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My colleagues at BCG X conducted a new experiment with BCG Henderson Institute to explore how #GenAI is enabling workers to tackle tasks beyond their skillsets. Together, they’ve revealed three critical ways GenAI is equipping knowledge workers: 💥 Expanding the aptitude of workers beyond their current abilities 💥 Serving as a powerful brainstorming partner 💥 Reskilling when augmented So, what does this mean for leaders? Read the latest report to find out: https://on.bcg.com/3z8ZE4J

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BCG and Massachusetts High Technology Council–in collaboration with leaders from industry, hospitals, and academia–examine AI’s transformative potential in patient care and life sciences in a recent white paper. Read to learn how we plan to lead in applied #AI, focusing on better patient outcomes and groundbreaking innovations: https://on.bcg.com/3xqah2s

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As generative AI reshapes industries and workflows, BCG's report "How Work Preferences Are Shifting in the Age of GenAI" offers critical insights into the evolving expectations of employees in this new era. The report uncovers key trends driving the future of work, emphasizing the importance of digital fluency and collaboration tools in enhancing productivity, as well as the growing focus on career advancement and meaningful work.   Organizations that effectively integrate technology and prioritize employee development are positioning themselves to thrive in this AI-driven age. Explore these insights in more detail in the full report here: https://lnkd.in/dHGwaTQA   Authors: Jens Stefan Baier, Orsolya Kovacs-Ondrejkovic, Dr. Tobias Zimmermann, Pierre Antebi, Dr. Susan Gritzka, Sacha Knorr, Vinciane Beauchene, Carmen Márquez Castro, Zoë McFarlane, Anja Bates, Niharika Jajoria, Julie Bedard, and Ashish Garg   #FutureOfWork #GenAI #WorkplaceInnovation #BCGCEOAdvisory

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Companies today are rethinking their manufacturing networks to address both #CostManagement and #Sustainability. @BCG’s latest article explores how a data-driven approach to reducing carbon emissions can improve EBITDA by 1-3 percentage points. By integrating sustainability into long-term network strategies, businesses can achieve transparency, efficiency, and resilience while supporting climate goals. With a clear roadmap, companies can balance financial and environmental objectives, gaining a competitive edge. Discover the full strategy: https://lnkd.in/dzppwg-R

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What if your team could take on tasks they were never trained to do? Our latest research shows that with Generative AI, this is not only possible - it’s happening. The BCG Henderson Institute collaborated with BCG X, to experiment with over 480 BCG consultants and the findings are promising. Through three short tasks that emulated a common data-science pipeline given to the consultants, we found that #GenAI can significantly expand the capabilities of workers, enabling them to tackle new challenges and complex tasks they previously couldn’t manage. However, this transformation requires careful management to mitigate risks and maximize benefits. Learn how you can harness GenAI to build a more agile, capable, and future-ready workforce in our full report: https://lnkd.in/d4Zb-P3g

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The possibilities of #Generative AI (#GenAI) can be polarizing, but a new study from BCG finds a surprising level of familiarity and enthusiasm for the technology among #consumers around the world. A new article, “Consumers Know More About AI Than Business Leaders Think,” from BCG’s Center for Customer Insight finds that consumers in China, India, and Brazil are especially excited about the technology’s potential. Read more: https://lnkd.in/dTakK-aR

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Excited to share a report co-authored with my fellow #BCG colleagues on the rise of the #B2B #marketplace model Marketplaces are revolutionizing B2B procurement, enabling businesses to provide buyers with a one-stop-shop procurement platform in an operationally simple way. By leveraging these innovative platforms, companies can drive a superior customer experience and increase share of wallet, but it's not easy. Our report explores why marketplaces are an advantaged model in B2B and some of the key success factors required to make them scale, showcasing learnings from around the world. https://lnkd.in/eq9NNv3R Thanks to Khaled Tawfik, Ali Harcourt and Yulia Isaeva for helping get it over the line

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Excited to share Alvarez & Marsal's latest Private Equity Value Creation Survey, where Markus Lahrkamp and Rachel Jurgensmeyer offer a deep dive into the strategies driving portfolio growth today. From digital transformation to operational efficiency, we're seeing new trends emerge that are reshaping how value is built and sustained. This survey is a must-read for those aiming to stay ahead in an evolving landscape. Explore the full insights here: https://lnkd.in/gZRJMQJM #PrivateEquity #PerformanceImprovement #ValueCreation #Strategy

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#GenAI is starting to create exponential value, and for #privateequity portfolio companies, it can be a key component of a value creation plan. Identify where #GenAI can create the most value for your #portcos with this guide: https://pwc.to/4dHvswI. What can you consider doing now: 1️⃣ Find the Value: Assess where GenAI can impact each portfolio company based on its industry and processes, considering scalability. 2️⃣ Build the Team: Designate team members to experiment with GenAI, focusing on disruptive use cases. 3️⃣ Create Trust: Ensure a secure environment with licensed GenAI models and robust governance practices to protect data and IP. 4️⃣ Deploy and Iterate: Implement GenAI in high-impact areas and look for similar opportunities across the organization. As you gain experience, efficiency and opportunities will grow.

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While early excitement around #GenAI predicted major economic gains, many companies are struggling to achieve their goals. As GenAI matures, success is tied to strategic application with companies embracing long-term practical impact, rather than short-term gains. BCG X's Sylvain Duranton explores this shift from boom to balance in his latest Forbes article: https://bit.ly/3YjPYhu

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Bain & Company's Steve Berez spoke with HBR about the challenges that companies often face while undergoing digital transformations. See more in this edition of HBR's Analytic Services report: http://bit.ly/4e6ZFFe https://bit.ly/4garj64

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As sustainability goals meet the realities of implementation, companies are recalibrating their timelines and ambitions. Bain experts offer guidance on navigating complex transitions in the energy, food, and technology sectors. Read the full report here. https://bit.ly/3zxmh2U

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