
Masters in Business: Philipp Carlsson-Szlezak
Barry speaks with Philipp Carlsson-Szlezak, Boston Consulting Group's Global Chief Economist. Prior to this role at BCG, Philipp advised financial institutions and governments at the Organization for Economic Co-operation and Development (OECD) as well as McKinsey & Company. He was also Chief Economist at Stanford C. Bernstein. He is a frequent contributor to Harvard Business Review, World Economic Forum, and various other business publications. Philipp also leads the Center for Macroeconomics at the BCG Henderson Institute. On this episode, Barry and Philipp discuss structural changes to the global economy, doomsaying, and his book 'Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 hours ago
- Yahoo
EDITORIAL: Jobless numbers spell trouble
The need to grow the Canadian economy in the face of tough economic times was underscored by the release of the latest unemployment numbers by Statistics Canada on Friday. The unemployment rate in May rose to 7.0%. That's the highest it has been since September 2016, excluding the 2020 and 2021 pandemic years, and a 12.9% increase from 6.2% a year ago in May. The Canadian economy generated a net increase of just 8,800 jobs in May, far short of the roughly 30,000 per month needed to keep pace with population growth. A total of 1.6 million Canadians were unemployed in May, an increase of 191,000, or 13.8%, compared to May 2024. A smaller share of people who were unemployed in April found jobs in May (22.6%), compared to a year ago (24.0%), and spent an average of 21.8 weeks searching for work, compared to 18.4 weeks in May 2024. Unemployment in Ontario (7.9%); Alberta (7.4%); Newfoundland and Labrador (9.7%); Prince Edward Island (8.2%); and Nunavut (9.0%) were all above the national average, as was the case in a number of cities, including Windsor (10.8%); Oshawa (9.1%); Toronto (8.8%); Calgary (7.8%); and Edmonton (7.3%). Canada recorded its largest merchandise trade deficit of $7.1 billion in April, the first full month of the tariff war with U.S. President Donald Trump, compared to $2.3 billion in March. The Organization for Economic Co-operation and Development last week projected meagre 1% economic growth for Canada this year and 1.1% in 2026, noting Trump's global tariff war is expected to hit the economies of Canada, Mexico, China and the U.S. hardest. Prime Minister Mark Carney proposed measures to bolster the economy on Friday, including eliminating federal barriers to interprovincial trade, increasing labour mobility and shortening the process for approving major infrastructure projects. Those are worthy long-term goals, since internal impediments to trade cost our economy $200 billion annually, raise consumer prices up to 14.5% and reduce economic growth as measured by gross domestic product up to 8% annually. But they are also long-term solutions, underscoring the importance of Carney's government producing a budget as soon as possible to reveal the Liberals' specific plans to boost the economy. For better or worse, Carney decided to delay releasing the budget until fall.
Yahoo
a day ago
- Yahoo
CMOs increase AI investments: Here's what the numbers say
This story was originally published on Marketing Dive. To receive daily news and insights, subscribe to our free daily Marketing Dive newsletter. While concerns remain regarding the role of generative artificial intelligence in marketing, 83% of CMOs expressed optimism about the technology, a five point increase from the year prior, according to a report from Boston Consulting Group (BCG). As trust grows, so do investments, with 71% of marketers planning to invest at least $10 million in generative AI over the next three years, up from 57% the year prior. 'AI has gone from something to experiment and play around with to something that's becoming core, embedded part of more and more marketing processes,' said David Edelman, senior advisor to BCG. 'How CMOs Are Scaling GenAI in Turbulent Times' is based on a global survey of 200 CMOs conducted in April and May. As generative AI continues to become a larger part of the marketing industry, CMOs views on the technology have shifted. Since 2023, the majority of CMOs have expressed optimism in the technology, with those holding this sentiment jumping nine points from 74% in 2023 to 83% in 2025. During the same period, feelings of anxiety and worry regarding generative AI dropped 23 points from 46% to 23%. Outright rejection of the technology has dropped to single digits, or 8%. This embedded content is not available in your region. CMOs have continued to scale AI over the past 12 months, per the report. Notably, there has been a push toward expanding functionality beyond image generation. Sixty-eight percent of respondents are already deploying or plan to deploy live-action style video generation without humans. The same percentage of respondents are already using or plan to use AI to help with video enhancement, such as editing and supplementations. While video applications may be the next area of interest, 91% of respondents plan on deploying or will deploy AI to help with text translation. However, while generative AI allows for a significant volume of content creation in a fraction of the time than was previously possible, that doesn't necessarily mean marketers should greatly increase production, as the sheer volume of content could turn off consumers. 'You can create more, and marketers are basically just going to end up bombarding consumers because they can create more content. So are we getting a tragedy of the commons,' said Edelman. Marketers don't just see AI as just a content-producing technology, but a way to personalize the customer experience. Generative AI can be used to create next-best content, timed outreach and recommend products, among other tactics. As marketing budgets tighten and consumers feel the weight of economic pressure, using AI for audience optimization is going to become a top priority. Half of respondents already use AI for product recommendations, with an additional 37% planning on deploying the technology. Custom timing of outreach is used by 43% of respondents and 29% plan on using AI for this purpose. While only 39% use AI for content performance forecasting, 40% are piloting this functionality. A similar trend can be seen with audience segmentation and optimization, with 36% of CMOs already using AI for this, while 44% plan on doing so. Taking generative AI in marketing to the next phase could require CMOs to loop in other areas of the business. 'Marketers are stepping up to take more of a lead in the C-suite on how AI can help drive the business,' said Edelman. 'They are seeing the opportunities for new customer experiences and ways of delivering value propositions. But a lot of that can't all be done by marketing. It requires product management, service operations, sales, so it takes a village.' Sign in to access your portfolio


Axios
2 days ago
- Axios
Scoop: Treasury officials defend "revenge tax" from wary GOP senators
Top Treasury officials are privately explaining to GOP senators that Section 899 of the House-passed budget bill is already forcing foreign countries to the negotiating table, according to administration officials. Why it matters: Critics are calling the provision a "revenge tax." But the Trump administration sees Section 899 as an important tool — like tariffs — to help negotiate better deals for American multinational corporations. While Trump officials are signaling to senators a willingness to make changes to the provision, they are also making the case for why it should stay in Trump's "one, big beautiful bill," officials said. Some Republican senators, including Sen. Thom Tillis (R-N.C.), have expressed reservations about the provision. Zoom out: On his first day in office, Trump promised to undo the Biden administration's plan to impose a global minimum corporate tax. He signed an executive order that it "has no force or effect." Section 899 is an attempt to give the White House more power to negotiate with the Organization for Economic Co-operation and Development, a collection of 38 market-based economies, which has also been critical of Trump's trade policies. While the original outline of the global minimum tax rates was included in President Biden's Inflation Reduction Act, it ultimately required foreign countries to come to a common agreement on how to tax multinational corporations. Republicans howled at that process and argued that it usurped Congress' constitutional power to establish tax rates. They also had policy concerns with a global minimum tax. Zoom in: Section 899 of the House-passed budget bill is designed to penalize countries that impose taxes on U.S. companies, including a global minimum tax of 15% as well as a digital services tax. It allows the U.S. to increase tax rates for foreign direct investment on countries it claims has unfair tax policies. Wall Street is worried that a potential tax on foreign investment could harm U.S. assets and the broader economy. But there's some indication that European countries are open to modifying their policies in order to mollify the Trump administration, Bloomberg reported. The other side: A coalition of trade associations, led by the Global Business Alliance, wrote to Senate Majority Leader John Thune (R-S.D.) and Senate Finance Committee Chair Mike Crapo (R-Idaho) to call for the removal of the provision. "As the budget reconciliation process advances, we urge you to uphold the pro-growth principles embedded in the Tax Cuts and Jobs Act (TCJA) and avoid tax increases that would undermine American jobs, innovation, and long-term economic growth," the coalition wrote. The bottom line: The Trump administration is essentially arguing to senators that Section 899 might never have to be used.