Itochu and BCG Forge AI-Powered Business Consultancy Venture

Japanese trading giant Itochu, in collaboration with global consulting firm Boston Consulting Group (BCG), is set to establish a pioneering joint venture aimed at leveraging generative artificial intelligence to enhance business operations. With Itochu holding a majority stake and overseeing the appointment of the venture's president, the partnership marks a significant departure from traditional business consulting models. The initiative responds to Japan's escalating labor shortages, offering innovative solutions to bolster efficiency and navigate geopolitical complexities.

The joint venture, slated to commence operations in April 2024, will deploy approximately 100 employees from both Itochu and BCG, focusing on digital transformation consulting. By harnessing the capabilities of generative AI and big data analysis, the venture aims to formulate bespoke strategies to optimize business processes and mitigate operational risks. This strategic collaboration underscores a growing trend in Japan's corporate landscape, where companies are increasingly turning to advanced technologies to streamline operations and address workforce challenges. As the demand for AI-driven consultancy services surges, industry analysts project significant growth in Japan's information technology consulting market, signaling a promising trajectory for the newly formed venture.

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