Econsult Solutions Launches ESI Center for the Future of Cities; latest thought leadership initiative - Learn More

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Econsult Solutions, Inc. Launches ESI Center for the Future of Cities

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August 4, 2021 (Philadelphia, PA) Econsult Solutions, Inc. (ESI), a leading economic, strategy, and policy consultancy, is excited to announce a new initiative, ESI Center for the Future of Cities. As ESI’s new thought leadership arm, ESI Center for the Future of Cities will bring together experts in urban economics, policy, and strategy to craft new evidence-based research on the most important issues facing cities around the world, and to provide consulting services for public and private sector organizations working in urban settings.

“We believe in the future of cities as places of commercial vibrancy, cultural expression, and diverse perspectives,“ stated Lee Huang, ESI co-president, “and are eager to marshal our analytical capability and practical experience to help envision what the future of cities should be and to help make that future happen.”

ESI Center for the Future of Cities will bring together experts from the firm’s practice areas of Government & Public Policy, Transportation & Infrastructure, Economic Development, Real Estate, Universities & Hospitals, and Equity & Inclusion to work with partners and clients grappling with the most pressing issues facing cities today. It will serve as a focal point for the firm’s research and analysis and will yield creative new projects and tools that will help clients navigate contemporary urban challenges . “ESI Center for the Future of Cities, like cities themselves, will build upon accumulated knowledge and experience, and will always have its eyes on the future” said ESI Co-Chair, Richard Voith.

“We are excited to introduce ESI Center for the Future of Cities to the marketplace at this crucial turning point for cities,” said Steve Wray, ESI Senior Vice President and Principal, who is leading the Center’s development. “Addressing the challenges that cities face as they emerge from the pandemic and tackle issues like climate change, economic inequality, and technological disruption requires the economic knowledge and creative solutions that ESI brings to all of its work.”

ESI Center for the Future of Cities builds from ESI ThoughtLab, ESI’s recently completed thought leadership joint venture. Over the past five years, ESI ThoughtLab produced ground-breaking work on such as issues as smart cities, jobs of the future, and autonomous vehicles. ESI is now eager to deploy its professional staff to produce quality thought leadership and advance urban solutions through ESI Center for the Future of Cities. For more information, please visit https://econsultsolutions.com/future-cities/, connect with us on LinkedIn at https://www.linkedin.com/showcase/esi-cities, and on Twitter at @ESIFutureCities.

Key contacts:

Steve Wray
Senior Vice President & Principal
215-717-2777 x215
wray@econsultsolutions.com		 Mike Daly
Senior Business Development & Marketing Associate
215-717-2777 x206
daly@econsultsolutions.com

ESI is Proud to be Recognized in Inaugural Class of “Civic 50” Businesses in the Philadelphia Region

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ESI is honored to be recognized as one of the 50 most community-minded companies in Pennsylvania, New Jersey and Delaware for 2021 by the Civic 50 of Greater Philadelphia.

The Civic 50 is an assessment and benchmarking tool that provides a framework for good corporate citizenship and showcases how civic-minded businesses are moving social impact, civic engagement and community to the center of their business. Civic 50 is affiliated with the Philadelphia foundation. The tool gives civic-minded businesses throughout the Philadelphia region opportunities to learn from like-minded peers and practical tools and tips to have greater impact through their community engagement activities. Participants receive a scorecard benchmarking their CSR. Companies are ranked on 4 dimensions: Investment, Integration, Institutionalization and Impact.

Out of the 50 companies chosen by the Civic 50 in this inaugural class, ESI ranked 11th in investment, 27th in integration, 18th in institutionalization and 32nd in impact. ESI was awarded a silver medal in investment and a bronze medal for its work in institutionalization.

We’re honored to be counted in such esteemed company. This recognition motivates us to remain committed to social engagement and community impact. Thanks to Philadelphia Foundation for elevating the role of civically minded organizations in making a better and more just region.”
– Lee Huang, President & Principal

ESI is committed to demonstrating civic leadership in the way it operates as a business and in all the work it does as an economic consulting firm.  Below are a few examples of recent past work with social impact:

Coalition of Industry Leaders to Conduct Ground-breaking Study into the Future of Wealth Management in the Post-pandemic Era

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Study will analyze how digital, social, regulatory, and economic shifts are permanently transforming the wealth and asset management industry

May 20, 2021 (Philadelphia, PA) – ESI ThoughtLab, a leading global research firm, has joined forces with a coalition of leading wealth management firms, WealthTech innovators, and industry experts to analyze how digital, social, regulatory, and economic shifts—accelerated by the pandemic—will fast-forward the next era of wealth management. Dramatic changes in investor behaviors, experiences, and expectations, along with a major transformation in the workplace for advisors and operating teams, will continue to gain momentum, even after the pandemic ends. This will require financial institutions to act now to rethink their growth plans, products and services, value propositions, and business models for the “new-normal” marketplace.

A probing look into the future of wealth management

To investigate these megatrends and what they will mean for the industry, ESI ThoughtLab is working with Deloitte, eToro, FIS, Salesforce, Appway, HCL, and Publicis Sapient to launch a rigorous research initiative called Wealth and Asset Management 4.0: How digital, social, and economic shifts will transform the industry. This comprehensive study will consist of two major worldwide surveys conducted over the next two months: one of 2,500 investors across age and wealth levels and another of 500 wealth and asset management providers covering a spectrum of industry players. To get a broad perspective, the program will include an advisory board of leading financial, technology, consulting, and research organizations; in-depth interviews with market leaders and experts; and economic modeling and analysis by ESI ThoughtLab’s team of economists.

It will seek to answer a range of critical questions, including:

  • How will investors across segments change their priorities, expectations, and behaviors in a digital, post-pandemic world?
  • How will firms need to adapt their products and services, business models, value propositions, and client services to stay competitive?
  • What will be the biggest opportunities and challenges for wealth management providers in a transformed financial marketplace?
  • How far will industry players need to go to build ESG into their business strategies, analytical approaches, and product offerings?
  • How fast and extensively will the industry need to digitize, and which digital technologies and solutions will deliver the best results?
  • What are the new ways in which work will get done, and how will this affect advisor activities and client relationships?
  • What will the wealth and asset management industry look like in five years, and what should firms do now to stay relevant?

“The convergence of digital, social, regulatory, and demographic change is upending the wealth and asset management industry,” said Lou Celi, CEO of ESI ThoughtLab and the project director. “Investment providers that do not act now to respond to these new market realities will struggle to compete in the era of Wealth 4.0.”

A multidisciplinary coalition of industry experts

To ensure the acuity of the research, ESI ThoughtLab has established a multidisciplinary advisory board to help shape the research agenda and provide insights to the analysis. In addition to sponsors, the coalition includes senior executives from universal, retail, and private banks, as well as asset management firms, broker-dealers, wealth advisory firms, family offices, hedge funds, venture capital firms, financial associations, academics, and economists.

As part of this open research initiative, ESI ThoughtLab will provide regular updates on the program, along with the latest analysis, useful data resources, and valuable insights, to the global financial community. The research program will continue over the next several months, with the full study findings and related decision support tools to be released in October 2021, along with calls to action for investment providers and the broader investment community.

An upcoming webinar on May 27th will highlight members of the research study advisory board. Discussion points will include the biggest disruptors impacting the industry today, the pandemic’s lasting impacts, as well as an examination of shifting investor behaviors, priorities, and expectations. To register for this interactive panel discussion, please visit https://bit.ly/3bnjfix

For more information, contact:
Lou Celi, Chief Executive Officer
ESI ThoughtLab
Lceli@esithoughtlab.com

Mike Daly, Marketing Director
ESI ThoughtLab
Mdaly@esithoughtlab.com

 

About ESI ThoughtLab

ESI ThoughtLab is an innovative thought leadership firm that creates fresh ideas through rigorous research and economic analysis. We specialize in assessing the economic, financial, and social impact of latest technology on cities, companies, industries, and world markets. Our services include fielding business, consumer, investor, and government surveys; organizing executive interviews, meetings, and advisory groups; conducting economic modeling, AI sentiment monitoring, benchmarking, and performance analysis; and developing white papers, eBooks, infographics, and customer-facing analytical tools.

 

 

 

Please see www.deloitte.com/us/about for a detailed description of our legal structure.

Wealth & Asset Management 4.0: Digital , Social, and Economic Shifts

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The ongoing pandemic has been a watershed event for businesses and their customers around the world, particularly for the wealth and asset management industry. The crisis has rapidly sped up digital, social, economic, demographic, and regulatory shifts that were already transforming the industry. But the pandemic also has prompted investors to reexamine their life priorities, investment plans, and the way they interact with their wealth management providers.

Join ESI ThoughtLab, FinTech B2B Marketing, and advisory board members of the Wealth and Asset Management 4.0 research study for an interactive panel discussion examining the megatrends disrupting the industry and the future of wealth and asset management. Hear from industry experts and insiders from Charles Schwab & Co., Deloitte, and eToro.

Click here to register.

  • Moderator: Payal Raina – Founder, FinTech B2B Marketing
  • Andrew D’Anna – Senior Vice President, Charles Schwab & Co.
  • Gauthier Vincent – Lead Wealth Management Consulting Partner, Deloitte
  • Ronen Assia – Co-founder, eToro
  • Lou Celi – CEO, ESI ThoughtLab

Discussion Points:

  • Why is this research so timely and important now?
  • What are the biggest disruptors impacting the wealth and asset management industry today?
  • How has the pandemic accelerated the transformation of the industry?
  • What lasting changes should we expect in how work gets done and clients are serviced?
  • How are investors’ behaviors, priorities, and expectations changing, and how are firms adapting their products and services to meet their clients’ needs?

ESI ThoughtLab Reveals How 167 Cities Worldwide are Leveraging Technology, Data, and Partnerships to Drive Social Development Goals

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Pandemic accelerates rise of Cities 4.0, propelling the development of a future roadmap toward urban prosperity, sustainability, and citizen well-being

  • The pandemic spurred more than one-third of cities around the globe to give more priority to efforts to promote the social good
  • 65 percent of city leaders said smart city programs were crucial to COVID-19 response
  • 25 percent of city leaders said COVID-19 underscored the imperative to achieve the UN Sustainable Development Goals
  • 20 cities globally were identified as Cities 4.0—those that are leaders in using smart technology, data, and partnerships to achieve their social, environmental, and economic goals

March 30, 2021 (Philadelphia, PA) – Today, ESI ThoughtLab released Smart City Solutions for a Riskier World, a forward-looking study that provides city decision-makers with an evidence-based playbook for driving better social, environmental, and economic outcomes in today’s transformed world. The research, based on a survey of 167 city leaders from 82 countries around the world, dramatically underscores the vital role of technology, data, partnerships, and citizen engagement in enabling municipalities to recover from the COVID-19 pandemic and helping give rise to a new class of cities—Cities 4.0.

To understand how cities are using the UN Sustainable Development Goals (SDGs) as a roadmap for the future, ESI ThoughtLab collaborated with a global coalition of government, business, and academic leaders to conduct a comprehensive benchmarking study of diverse cities across six world regions: Africa, Asia Pacific, Europe, Latin America, Middle East, and North America. The research also included AI-enabled sentiment analysis of citizen views on the SDGs and digital solutions.

“Our discussions with global city leaders have made it clear that the pandemic has been a catalyst for remarkable technological, business, and social change, which will continue even after the health crisis ends,” said Lou Celi, CEO of ESI ThoughtLab. “The most successful cities will be digitally transformed, citizen-centric, and fully sustainable, as well as skilled in the new ways of doing business. We call these cities, Cities 4.0.”

Rise of Cities 4.0 and Technology Investments Set to Fuel Change

ESI ThoughtLab researchers found that 20 of the 167 cities surveyed meet the definition of Cities 4.0—cities that excel at leveraging technology, data, ecosystems, and partnerships of all kinds, including those with businesses, universities, citizens, and communities. As a result, Cities 4.0 are further ahead in smart city initiatives than other cities. For example, they widely deploy 14 smart city projects versus an average of seven for other cities and they have superior infrastructure, better public transportation, roads, parks, healthcare, and digital connectivity.

In addition, Cities 4.0 have made the greatest headway on the SDGs, with 86 percent making progress across all 17 goals. And they are seeing higher ROI on technology investments made in all urban domains, including digital infrastructure; mobility and transportation; public safety; living and health; government and education; sustainability; and energy and water.

The 20 Cities 4.0 identified in the study are Aarhus, Athens, Baltimore, Barcelona, Berlin, Birmingham, Boston, Copenhagen, Helsinki, London, Los Angeles, Madrid, Moscow, New York, Orlando, Paris, Philadelphia, Singapore, Tallinn, and Vienna.

The research also found that cities are investing in an array of smart technologies. The largest investments are being made now in cloud (87% of cities), mobile (85%), IoT (81%), biometrics (72%), and AI (66%). Over the next three years, the technologies posting the largest increases in investment will be digital twins (+164%), 3-D printing (+125%), augmented reality/virtual reality (+63%), and data warehouses (+50%).

SDGs are a Priority Moving Forward

City leaders are applying lessons learned during the pandemic to set a path to achieve the SDGs. They reported that they were doing the most with SDGs related to people, including no poverty (91% of cities), good health and well-being (89%), decent work (86%), and quality education (86%).

The survey respondents also identified hurdles to advancing on the SDGs over the next three years, including complex policies and regulations (52% of cities), finding the right partner or supplier (50%), and managing data security and privacy (44%).

Moving forward, city leaders can utilize the ESI ThoughtLab research as a roadmap to becoming Cities 4.0. They can also take the four steps that Cities 4.0 follow to advance their SDG agenda: (1) regularly monitor and assess SDG efforts, (2) ensure SDG programs are widely supported throughout government, (3) designate a department to take the SDG lead, and (4) undertake a voluntary local review of progress on the SDGs.

About Smart City Solutions for a Riskier World

ESI ThoughtLab’s research for the Smart Cities for a Riskier World program was based on rigorous analysis, including in-depth phone surveys of 167 smart city leaders around the world conducted during the fourth quarter of 2020. The full list of cities, which includes Abu Dhabi, Amsterdam, Atlanta, Bangkok, Beijing, Cairo, Rio de Janeiro, Washington, DC, Libreville, among others, can be found by visiting www.citysolutions.riskierworld.com

Urban experts and economists at ESI ThoughtLab benchmarked the cities on the use of smart technologies, data analytics, partnerships, and other levers of change across their urban ecosystems to develop this ground-breaking data and analysis. ESI ThoughtLab also correlated and integrated data on city services, demographics, and quality of life from the World Bank, Numbeo, IESE, and other well-respected sources. To gain a citizen perspective, ESI ThoughtLab is also conducting ongoing AI-enabled sentiment analysis of residents of 10 representative cities around the world, which is publicly available on www.citysolutions.riskierworld.com

All data and results from the study were reviewed by an independent advisory board of city leaders, corporate executives, and academic experts, including representatives from sponsoring companies Axis Communications, Bentley Systems, Cisco, Deloitte, Hatch, Honeywell, Intel, The International Finance Corporation, Microsoft, NTT, and Oracle.

About ESI ThoughtLab

ESI ThoughtLab is an innovative research firm providing fresh ideas and actionable insights through rigorous data analysis. The team of 30 economists and subject matter experts specialize in assessing the impact of technological, economic, and demographic shifts on companies, industries, and cities. Learn more at www.esithoughtlab.com.

For more information, contact:

Lou Celi, CEO, ESI ThoughtLab
Lceli@esithoughtlab.com

ESI ThoughtLab and CityAge Invite City Leaders to Attend The 2021 Smart Cities Strategy Summit

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An Exclusive Meeting of Global City Leaders

The COVID-19 pandemic has been a watershed event for cities, with lasting impacts on how residents will live, travel, shop, and work. Our ground-breaking research into the post-pandemic plans of 167 cities worldwide—to be released at the summit—reveals that cities will need to morph into Cities 4.0 to achieve their social, environmental, and economic goals and meet their citizens’ needs after the pandemic ends.
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Cities 4.0 are urban centers that will evolve beyond yesterday’s smart cities to transform and interconnect various urban domains by leveraging technology and data, and by using a wider set of partnerships and innovative financing models. Just as importantly, Cities 4.0 will engage and empower their citizens, and will work with communities to take their social, environmental, and economic agenda to a higher level, fully aligned with the UN’s 17 Sustainable Development Goals.

The Smart Cities Strategy Summit will bring together city leaders from around the world to exchange views on solutions for a post-pandemic world. Participants will include urban experts from ESI ThoughtLab and CityAge and thought leaders from the business, academic, and government, who will help moderate and contribute to the discussion. Unlike other urban-focused events, the Smart Cities Strategy Summit is an invitation-only interchange that will provide a virtual forum for a cross-pollination of ideas and practices, drawing on our latest evidence-based research.
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Please join us at the summit so that you can gather insights from your peers and our analysis to craft a successful roadmap to achieve your post-pandemic urban development goals.

Special thanks to our event sponsors