Happy Friday! ‘This week in CX’ brings you the latest roundup of industry news.
This week, we explored the push for human-centric organisations, the influence of consulting, Gen Z’s growing dislike of credit cards, and why Brits shy away from salary discussions.
We’re also discussing new updates from The European Commission, Forbes, and more.
Key news
- European Commission president Ursula von der Leyen called the US’s universal tariffs a “major blow” and said that the bloc must “brace for the impact” the levies will have on the European economy. US president Donald Trump unveiled a sweeping tariff agenda on Wednesday evening, including a 10% rate on the UK and a 20% rate on the EU. Tariffs on the UK take effect on 5 April, with the EU’s following on 9 April. British prime minister Keir Starmer said the UK would respond with “cool and calm heads”, but the government has started a consultation process with business owners on possible retaliatory tariffs.
- The EU and UK fined leading car manufacturers nearly €600m (£502m) for illegal agreements on recycling practices. In the EU probe, all but one of the 16 members of the European Automobile Manufacturers’ Association (ACEA) were penalised, with Volkswagen receiving the largest fine (€127m/£106m). ACEA was also fined, while Mercedes-Benz was exempted for whistleblowing. In the parallel UK probe, Jaguar/Land Rover, Vauxhall, BMW, Renault, Peugeot/Citroën and Volkswagen were among those found guilty. The manufacturers had agreed not to advertise how much of their cars can be recycled, keeping customers in the dark and reducing demand for greener products.
- Elon Musk has topped Forbes’ billionaires list as the world’s richest person, with a net worth of $342bn (€316bn, £264bn). The richest woman on the list is Alice Walton of US supermarket chain Walmart, at 15th place with $101bn. The head of L’Oréal, Françoise Bettencourt Meyers from France follows in 20th place with $81.6bn. Overall, women make up just 13.4% of the list of 2,933. The top 20 is made up of mostly US-based men. Just two other European billionaires appear in the top 20: LVMH’s Bernard Arnault in fifth place with $187bn and Zara’s Amancio Ortega from Spain in ninth place with $124bn.
CXM news stories
Here’s the full news stories that CXM have reported on in the past week. Learn all about the latest news in consulting, human-centric organisations, Gen Z’s take on credit cards, and more.
Financial services ramps up data strategy as AI, digital assets, and cloud dominate 2025
As financial markets evolve rapidly, data strategy has become a top priority for the financial services industry, driven by AI, digital assets, operational resilience, and personalisation. According to Broadridge Financial Solutions’ study, 41% of executives believe their technology strategy is not advancing quickly enough.
In comparison, 46% feel that outdated legacy systems are hindering resilience. In an era where AI models can disrupt markets overnight, Bitcoin ETFs handle billions in daily volume, and cybersecurity threats demand global attention, firms can no longer afford to delay data harmonization or modernization efforts.
Firms ramp up spending in this area, with 58% of financial services executives identifying data harmonization as the most effective way to maximise return on investment. Moreover, 60% expressed confidence that their data quality would not hinder digital transformation.
Generative AI gains momentum
The adoption of Generative AI (GenAI) is accelerating, with 72% of financial firms making moderate-to-large investments in the technology this year, up from just 40% in 2024.
Over two-thirds (68%) believe GenAI will significantly enhance employee productivity, while 35% anticipate seeing a return on investment within six months. Additionally, 67% of executives personally use GenAI for investment and market research, highlighting its growing role in decision-making.
Digital assets move into the mainstream
Financial institutions are making major commitments to blockchain and digital assets, signalling a shift from cautious observation to active investment. This year, 71% of firms are heavily investing in blockchain and distributed ledger technology (DLT), a jump from 59% in 2024, while 64% are increasing their cryptocurrency investments.
Almost half (47%) believe DLT creates new opportunities in capital markets, and 73% anticipate stricter regulation and governance around digital assets.
Cloud technology
In addition, cloud technology continues to dominate financial services, with 86% of firms integrating it into their operations and 84% making substantial investments this year. Among executives, 31% believe cloud platforms have the greatest impact on their business, and 27% plan to boost their cloud investments over the next two years, reinforcing their role in scalability, efficiency, and agility.