Latest news with #PwC
Forbes
18 hours ago
- Business
- Forbes
McDonald's ‘123456' Password Scare Reframes Responsible AI Debate
A security flaw on the McHire platform jeopardized 64 million applicants' data. Set aside aspirational AI rhetoric, alarmist consultant pitches and techno-babble. AI success requires candor about incentives, incompetence and indifference. McDonald's learned that harsh lesson (in a relatively costless way) when two security researchers used '123456' as the username and password to astonishingly fully access the Golden Arches hiring platform — and over 64 million applicants' personal data. The noble cyber sleuths, Ian Carroll and Sam Curry, reported the flaw to McDonald's and its AI vendor, Paradox, for swift technical resolution. If nefarious actors found the lax vulnerability, McDonald's leadership would be mired in a costly, public crisis. So, will the fast-food goliath learn from this 'near-miss' to improve tech governance? Will others tap this averted disaster for overdue responsible AI introspection and action? It depends. Widespread and hushed AI deployment problems need thornier fixes than many boards and senior executives will acknowledge, admit or address. Super-sized opportunities Workplace crises can be proactively prevented (or eventually explained) by tackling incentives, incompetence and indifference with stewardship, capability and care. The Golden Arches 'near miss' exemplifies that and the timing couldn't be better. While 88% of executives surveyed by PwC expect agentic AI spending increases this year, many struggle to articulate how AI will drive competitive advantage. Nearly 70% indicated that still half or fewer of their workforce interacts with agents daily. Indiscriminately 'throwing money' at issues can create more problems than it solves. Here's a better start. Dissect incentives. Talent, culture and bureaucratic entrenchment stymie big firms desperate to innovate. Nimble, bootstrapped startups tantalizingly fill those voids, but crave revenue and reputation. Stalled AI implementations only fuel that magnetism. Typically, the larger organization the makes headlines when deals falter. How many leadership teams meaningfully assess third-party risk from an incentives perspective? Or do expedited results more strongly appeal to their own compensation and prestige hunger? Is anyone seriously assessing which party has more (or less) to lose? Nearly 95% of McDonald's 43,000 restaurants are franchised. With over 2 million workers and aggressive growth aims, automating job applications is a logical AI efficiency move. Its selected vendor, whose tagline boasts 'meet the AI assistant for all things hiring' seemed like a natural partner. At what hidden costs? Successful strategic alliances require an 'outside-in' look at a counterparty's interests. Three of the seven-member Paradox board are private equity partners, including chair Mike Gregoire. In Startups Declassified, acclaimed business school professor and tech thought leader Steve Andriole emphasizes flagship revenue's valuation criticality, 'There's no more important start-up activity than sales — especially important are the 'lighthouse' customers willing to testify to the power and greatness of products and services. Logo power is [vital] to start-ups.' 'Remember that no one wants to buy start-ups unless the company has killer intellectual property or lists of recurring customers. Profitable recurring revenue is nirvana. Exits occur when a start-up becomes empirically successful,' he continued. Assess skill and will. Despite its global presence, digital strategy imperatives and daily transaction volume, the 2025 McDonald's proxy reveals three common AI-era oversight shortfalls: inadequate boardroom cyber expertise, no technology committee and cybersecurity relegated to audit oversight. Those are serious signaling problems. In fact, the word 'cybersecurity' only appears nine times across the 100-page filing. In the director qualifications section, information technology is grouped with cybersecurity and vaguely defined 'contributes to an understanding of information technology capabilities, cloud computing, scalable data analytics and risks associated with cybersecurity matters.' Just four of the eleven directors are tagged as such. While three of those four worked in the tech sector, none has any credible IT or cybersecurity expertise. Intriguingly, not one of the four, board member and former Deloitte CEO Cathy Engelbert has the best experience to push stronger governance. Is she, now the prominent WNBA league commissioner, willing to take such contentious risk? To start, she can tap longtime McDonald's CFO Ian Borden and auditors EY for guidance and ideas on bolstering board composition. Nearly 95% of McDonald's 43,000 restaurants worldwide are franchised. When tech issues arise, fingers, by default, point at the IT team. However, responsible AI design and deployment truly require cross-functional leadership commitment. McDonald's CEO Chris Kempczinski routinely touts a 4D strategy (digital, delivery, drive-thru and development) and characterizes the fast-food frontrunner's tech edge as 'unmatched.' That bravado brings massive expectations and he can't be happy with the '123456' password distraction. With annual compensation approaching $20 million annually, he also has a responsible AI obligation to current and future McDonald's workers making, on average, 1,014 times less — as well as the 40,000 franchisees. Valerie Ashbaugh, McDonald's commercial products and platform SVP, rotates into the US CIO seat next month. The timing is ideal to institute policies, procedures and accountability for stronger third-party IT access controls. Alan Robertson, UK ambassador to the Global Council for Responsible AI, astutely notes, 'The damage is done — not by hackers, but by sheer negligence. McDonald's has pinned the issue on Paradox. Paradox says they fixed it and have since launched a bug bounty program. It raises bigger questions for all of us. Who audits the third-party vendors we automate hiring with? Where does the liability sit when trust is breached at this scale? And what does 'responsible AI' even mean when basic cybersecurity hygiene isn't in place? We talk about ethics — but sometimes it's just about setting a password.' That's prototypical indifference — especially when the access key is "123456." Likewise, HR leaders have a chance to meaningfully shape AI rollouts. 'HR needs to resist the urge to 'just go along.' There will be many HR leaders who simply wait for the various software lines they current license to add AI functionality. To do so would be a mistake. AI will become a critical part of the employee experience and HR should have a hand in that,' advises AthenaOnline SVP of customer solutions Mark Jesty. At McDonald's, EVP and global chief people officer Tiffanie Boyd holds that golden opportunity to elevate responsible AI on the board and c-suite agendas. Will she? Responsibility knocks The McHire 'near-miss' highlights how boards and c-suites can remain dangerously unprepared for AI design, deployment and oversight. Strategy speed and tech wizardry must never be at stewardship's cost. "If you're deploying AI without basic security hygiene, you're not innovating. You're endangering people. Security is not optional,' implores CEO Ivan Rahman. Who's opting for drive-thru AI governance?
Yahoo
19 hours ago
- Business
- Yahoo
OCP acquires PwC Business Services in Morocco
Moroccan phosphate company OCP has acquired PwC Business Services, a unit of PwC Advisory Morocco, in a deal that solidifies their established partnership. Financial details of the deal were not divulged. Walaw has reported that the acquisition enables OCP to bring in-house essential administrative and financial operations previously handled by the subsidiary. PwC Business Services was set up to deliver tailored, non-regulated support to OCP, covering areas such as IT, accounting, and operational tasks, which have been vital for streamlining OCP's routine processes. The unit has exclusively served OCP since its formation, functioning as a dedicated support entity. OCP, which holds more than 70% of global phosphate rock reserves, mainly in Morocco, is a major player in phosphate and fertiliser production. In recent years, the company has focused on advancements in technology, sustainability, and agricultural development. This acquisition supports OCP's aim to improve efficiency, cut costs, and oversee its internal operations more closely. For PwC Advisory Morocco, part of the global PwC network, the sale provides an opportunity to concentrate on its primary advisory services. With the subsidiary now under OCP's control, PwC Advisory plans to expand its client reach in Morocco and across North Africa. This transaction highlights OCP's focus on reinforcing its role in the global phosphate sector while allowing PwC Advisory to grow its consulting activities in the region. In June 2025, The Wall Street Journal reported that PwC is restructuring its US advisory division, expanding from four to eight segments to better tailor services to specific industries. PwC will embed managed services into each of its eight revamped US advisory segments, moving away from maintaining them as a separate entity. "OCP acquires PwC Business Services in Morocco" was originally created and published by International Accounting Bulletin, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Emirates Woman
a day ago
- Business
- Emirates Woman
How we got our job as… co-founders of this UAE-based timeless fashion label
This week, we speak to Gulnoza, Shahnoza, Shahzoda and Dilnoza, Co-Founders of UAE-based luxury fashion brand NÓRA, known for their quality silhouettes. Welcome to the Emirates Woman weekly series 'How I got my job as…' where we speak to some incredible entrepreneurs and businesswomen both based in the UAE and globally to find out about their career paths that led them to where they are now; what their daily routines look like; the advice they'd give to those starting out; and the hurdles they've had to overcome. The label is the ultimate destination for timeless designs that transcend trends. Their commitment to sustainability is woven into every luxurious, limited-edition piece offered through their e-commerce platform. To delve into their world, Emirates Woman spoke to the four co-founders to see how their journey in the fashion industry began. What was your favourite subject at school? For Gulnoza it was Chemistry, for Shahnoza it was art, Shahzoda it was Maths and Dilnoza it was Geography. What was your first job? Gulnoza was a Strategy consultant, Shahnoza was an Industrial engineer, Shahzoda a lawyer and Dilnoza a Rhythmic gymnastics coach. What brought you to Dubai? Gulnoza first landed in Dubai in 2017 for a new role at PwC and never let go of the city. One by one, the rest of us followed, drawn by study programs or work assignments. Whenever life took us elsewhere, Dubai's energy, business-friendly pace, and family-oriented rhythm pulled us back. It's one of the few cities where you can build a global brand and still feel a genuine sense of belonging. There's no other place that we call home. What inspired you to enter the space and launch NÓRA? When we launched in 2020, we felt there was a gap in the GCC market: a luxury experience from the fabric to the fit but at an attainable price. We believed women deserved both. We set out to offer timeless silhouettes cut from premium fabrics, produced ethically, and priced so women could build a truly elevated wardrobe without compromise. Five years on, that vision has resonated: the business has grown ten-fold, and our collections now dress thousands of women across the MENA region and beyond. At heart, though, we're still a family business, so every detail feels personal. We treat the women who wear our pieces as part of that sisterhood, obsessing over fit, fabric, and finish until we're sure we're giving them best. Talk us through the concept? We design for women who embrace modesty with a modern twist. Our signature cuts such as subtle asymmetry, sculpted drapes and cinched waists keep each look polished while resonating with women across the region. Each season, we hand-pick every roll of fabric and check every stitch, because we want you to feel the quality the moment you slip a piece on. We're equally serious about impact. In our selection of the fabric for garments we always opt for natural and sustainable fibres. Our garments are made of Naia™️fabric that has an optimised, low-impact manufacturing process with a low tree-to-fiber carbon and water footprint. Made from sustainably sourced wood pulp, it is certified biodegradable and compostable. And we believe true luxury should welcome, not exclude. By keeping prices honest, we let you invest in pieces you'll re-wear, restyle and rely on season after season. Above all, we're building community around sisterhood. Through pop-ups, stories and shared inspiration, we're creating a space where women across the MENA region and beyond dress with ease, live with intent and lift one another up. What are the key elements of your role? NÓRA is the four of us, sisters first, co-founders second. As co-founders, we divide our strengths, one leads creative direction, one oversees production and sourcing, another manages brand and partnerships, and one runs operations. We own our lanes but make the big calls together. That collective sign-off is the secret to keeping the brand coherent and the family bond intact. Talk us through your daily routine. No day looks the same, from fabric approvals with our factories, to creative shoots, to one-on-one meetings with business partners. But we always start with a morning check-in as sisters and co-founders, keeping us aligned. What advice do you have for anyone looking to follow in the same footsteps? Our dad was building businesses long before entrepreneurship was in trend. We grew up watching him treat risk as fuel, not a barrier, and turning uncertainty into opportunity through sheer tenacity. That mindset shaped NÓRA. We try to move forward even when conditions aren't perfect, and it's powered our rapid growth across the region. It's also the advice we'd share with any founder – grit will take you further than any perfect plan. Tell us more about the pieces? Our collections are designed to last across seasons, featuring neutral tones, and fabrics that move fluidly. In our latest Resort collection, we introduced pieces in soft shades: mocha mousse, olive green, and ivory. Crafted from lightweight, crease-resistant knits and fluid satin, each style is perfect for your next getaway and designed to be worn again and again. You'll now find NÓRA on Ounass, the GCC's premier luxury platform, and you can also shop pieces in person at Galaries Lafayette. What is the best piece of advice you have ever received? The best advice we've held onto is this, 'Start with a clear purpose, then build systems around it.' A strong mission fuels long-term success, but it's easy to lose sight of that 'why' when you're buried in daily admin. Every business is really a set of systems. The more you document and systemize each task, the sooner you can plug in talented people to run them. If you stay trapped inside those processes yourself, you haven't built a company, you've given yourself a job. And what is the worst? The worst advice we've received was to follow trends. We've learned to steer clear of that mindset. Instead, we focus on seasonless silhouettes that stay relevant long after the hype fades. Our customers invest in enduring quality; thoughtful craftsmanship and ethical production mean more to them that the buzz of a passing trend. View this post on Instagram A post shared by N Ó R A (@ What's the biggest challenge you have had to overcome? Our steepest learning curve has been predicting demand and managing an increasingly complex supply chain to serve large peaks of sales on key products. Last Ramadan we had opened pre-orders on one of our bestsellers, the Amira set. Thousands of girls planned to wear it as their Eid outfits. However, the production got delayed and regional couriers hit a backlog the week leading up to Ramadan. Customers began writing personal notes: one bride-to-be needed the piece to meet her in-laws, another had planned it for a first family gathering. The prospect of the packages arriving late suddenly felt like breaking a promise. So, we flew a team member to Istanbul, released the cargo ourselves, and booked a same-day Emirates freight despite city-wide unrest and a record-high shipping bill. Every parcel landed before Eid, and the thank-you messages that followed reminded us why we go to such lengths: quality and trust are non-negotiable, whatever the logistics. What lies ahead for the brand? We're expanding into new markets and deepening our community offerings, from private styling in our new showroom in D3, to organizing more community events. We want NÓRA to be a lifestyle brand, so we're always looking for fresh ways to engage with our customers. In the long run, we aspire to be a key mission-driven brand in the MENA region, giving back to the community. Our late father was a successful entrepreneur and always gave back to the community. To honour his legacy, we plan to launch a foundation that offers women mentorship, education grants, and seed funding for their ventures. According to the WEF, even in a female dominated sector such as fashion where women account for 85% of the customer base, less than 15% of the major fashion brands are run by women. Unfortunately, we're yet to see a significant rise of regional female-owned enterprises and we're determined to help change that. – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Feature Image: Instagram @
Time of India
a day ago
- Business
- Time of India
The power of predictive branding
By Atul Raja As marketing shifts from story-telling to story-selling, predictive branding is giving brands a strategic head-start in anticipating consumer behavior. Predictive Branding: The Future Has Already Arrived In a world where consumer preferences change faster than ever, traditional branding strategies — rooted in hindsight and historical data — are taking a backseat. Today, the brands that thrive are not just reactive; they're predictive. Predictive branding anticipates what the consumer will want tomorrow and aligns the brand today to meet that future need by leveraging real-time data, AI-powered insights, and behavioral analytics to forecast emerging trends, consumer sentiment, and category shifts. Predictive Branding goes beyond demographics and psychographics to build foresight-driven brand strategies — where campaign messaging, product innovation , positioning, and even tone of voice are influenced by future-driven signals. Branding meets behavioral science, and intuition meets intelligence According to a PwC report, over 63% of global CMOs say that consumer behavior is changing faster than their ability to keep up. Meanwhile, McKinsey finds that 75% of consumers have changed brands in the past two years, driven by availability, relevance, and perceived purpose. In such a landscape, predictive branding offers three core advantages: Agility in brand messaging: You're not just reacting to trends — you're riding them segmentation and targeting: Predictive analytics can identify emerging micro-audiences before they go innovation: Product ideation and brand extensions are driven by real-time gaps in consumer needs. Brands leading the predictive shift Tata Consumer Products used predictive insights to reposition and successfully grow Tata Sampann as a 'health-first' staple brand, riding the early wave of post-COVID wellnessZomato analyses user sentiment and search behavior to introduce hyper-personalized offers and features like 'Zomato Gold' — optimizing brand stickinessMarico's Saffola leveraged predictive search data to launch newer variants like Saffola Immuniveda and Saffola Honey, anticipating the Ayurvedic wellness trend ahead of its peakBoat continuously adapts its branding and influencer strategy using social listening and predictive modelling, helping it dominate the audio accessories market among Gen Z These brands are no longer guessing what consumers want — they're anticipating it with accuracy. Data Speaks A Salesforce study revealed that 62% of customers expect companies to anticipate their India, Dunnhumby and NielsenIQ have launched predictive analytics platforms that help FMCG brands align future demand with current campaignsAs per a HubSpot report, 66% of marketing professionals globally use AI tools in some form in their jobs What Lies Ahead? As AI and machine learning evolve, predictive branding will become less of a competitive advantage and more of a brand survival tool. Generative AI + Predictive Branding will personalize creatives at scalePredictive models will inform not just campaigns, but entire brand architectures — names, packaging, channels, and partnershipsEmotion AI and neuro-marketing will decode subconscious triggers to align brand tonality to future emotions In short, branding will move from reactive positioning to dynamic recalibration — real-time, always-on, and deeply personal. The age of predictive branding has dawned. In a crowded marketplace where loyalty is fleeting and relevance is everything, the winners will be brands that don't just follow the consumer but lead them through informed foresight, dynamic messaging, and proactive innovation. As marketing leaders, we must not ask 'What does the consumer want?' — but 'What will they want next?' That's where the future of brand growth lies. (The author is a global marketing consultant and brand strategist.)
BBC News
2 days ago
- Business
- BBC News
Channel Islands facing demographic ticking time bomb, says report
The Channel Islands could raise a combined total of more than £150m each year in tax by improving workforce participation and addressing an ageing population, according to a new PwC report highlighted how boosting employment rates within the islands' existing population could help improve the economies by about £ warned of an escalating skills shortage emphasised by ageing populations and low birth rates if action was not Yildirim, chief strategy officer for PwC Channel Islands, said it was of "critical importance to focus on workforce participation if the islands are to avert a demographic ticking time bomb". The analysis compares the Channel Islands with New Zealand, which it said was a leader in workforce said achieving employment rates similar to New Zealand could increase the Channel Islands' workforce by an additional 7,500 had the potential to raise more in tax than Jersey as there were more people not in the workforce than could be. The report said employment rates reflected "high rates of early retirement and the extent to which women either delay returning or go back to work part-time after having children".To combat the issue, it was suggested governments could make childcare more affordable and enhance education added employers could make jobs more flexible and embrace an older workforce while islanders could adopt a mindset of lifelong learning.
