Data analytics and AI specialist BCG Gamma launches in Canada
The Boston Consulting Group announced that its data science practice BCG Gamma will be expanding to Canada. The announcement was made at the International Economic Forum of the Americas in Montreal on June 13. BCG Gamma will have a presence in Montreal and Toronto.
Companies are increasingly attempting to integrate advanced data analytics and artificial intelligence functionality into their businesses in order to unlock previously unrealized value and productivity. Organizations are turning to consultancies with crack teams of data and computer scientists to help them transform their business strategies and processes into ones that leverage Industry 4.0 advancements.
One of the leading firms in this space is BCG Gamma, the data science, analytics, and AI practice of Big Three strategy consulting firm The Boston Consulting Group. BCG Gamma builds powerful data and AI-driven solutions for clients within nine to twelve months that help firms realize huge gains.
Examples of previous BCG Gamma projects include the creation of algorithms which predict, with 80% accuracy, whether a particular loyalty card holder with buy clothing within the next month, and what product they’ll elect to purchase. Another project developed an app to help New York taxi drivers look for customers in the right locations. The firm identified the locations of bars, offices, and restaurants, and then built an algorithm. The algorithm was then refined by using real time data, and then further refined by studying the way drivers used the data, in order to figure out what level of precision was relevant to make the ‘right’ decision.
According to BCG Gamma head Sylvain Duranton, the gains from data analytics can be substantial, easily representing 1-3% of company turnover.
Now, BCG has announced that its prestigious data science arm will be expanding into Canada. The announcement was made at the International Economic Forum of the Americas in Montreal on June 13. The annual forum promotes the role of the Americas in the global economic context – fostering agreements, business opportunities, and presenting insights from business and government leaders. Notable speakers this year include former UN Secretary-General Ban Ki Moon and Bain & Company Chairman Orit Gadiesh.
“Canada presents an incredible opportunity for BCG to further establish its GAMMA practice,” said Duranton. “We want to rapidly scale AI-enabled opportunities for clients and the business community, and with Canada’s deep talent pools and sophisticated tech ecosystems, we see Toronto and Montreal as perfect locations to drive this transformative change.”
Duranton spoke at the forum on June 13, where he joined the discussion on the topic of competing in the age of artificial intelligence, and discussed the launch of BCG Gamma in Canada.
With the launch of BCG Gamma, the firm will support Canadian organizations in building AI capabilities to realize better performance – accelerating their global competitiveness in the process.
“In Canada, our growing team of data scientists and business consultants will focus on co-creating solutions with clients at scale to unlock opportunity and build their capabilities,” said Matt MacKenzie, a BCG partner and managing director and the head of BCG GAMMA in Canada. “What’s exciting is that the more we adopt AI, the better we support Canadian business in carving out a new standard of excellence in Canada.”
BCG Gamma’s expansion into Canada comes amid growing demand for AI and data science services in Canada, particularly in the sectors of financial services, healthcare, and e-commerce. The government has also gotten behind AI, allocating $125 million in the next five years to its Pan-Canadian Artificial Intelligence Strategy. The strategy’s goals include increasing the number of AI researchers and graduates in Canada, while creating interconnected centres of AI excellence in Edmonton, Montreal, and Toronto. The strategy also hopes to develop thought leadership on AI, and to support the AI research community.
BCG is already a supporter of the SCALE.AI supply chain consortium, which is working to leverage AI technology in Canadian supply chains. SCALE.AI was one of the five industry initiatives selected by the Government of Canada in its Innovation Superclusters Initiative, giving the consortium access to a total federal investment pot of $950 million. SCALE.AI is made up of nearly 120 industrial partners and research institutions, as well as BCG.
“We are proud to have been a key driver of the SCALE.AI initiative, which is a promising engine for socioeconomic growth in Canada,” remarked Marc Gilbert, a senior partner and managing director at BCG in Montreal. “With BCG Gamma, we see the immense value-add that artificial intelligence is bringing to our clients and their ecosystems.”
