Randal Pinkett, Co-founder, Chairman & CEO, BCT Partners
Randal Pinkett, co-founder, chairman, and CEO of BCT Partners, spoke with Invest: about the firm’s commitment to lifting up the community. “At BCT, our purpose is to transform lives and create lasting change. Despite these challenging times, we maintain our steadfast commitment to the fundamental tenets of respect, fairness, and justice for all.”
What changes or shifts over the past 12 months have most impacted BCT partners, and how does that reflect the current state of the consulting industry?
The most impactful change has been the change in leadership at the federal level. Anyone who derives their revenue, directly or indirectly, from the federal government has been impacted. We are celebrating our 25th anniversary at BCT. We are a longstanding federal contractor and have seen many cancellations of federal contracts and federal funding either cut, reduced, or completely eliminated.
How would you describe the demand for DEI consulting services in business processes in New Jersey?
The federal executive orders on diversity, equity, and inclusion have created an environment of fear. People are even afraid to do work that they can legally do and still remain within the bounds of the executive orders and policy shifts. We’ve seen corporations in New Jersey that have abandoned or changed course on diversity, equity, and inclusion efforts, while others have doubled down. The federal government has maintained its stance against discrimination, and diversity, equity and inclusion work is intended to address discrimination. Diversity, equity, and inclusion has been, and continues to be, important work that is needed to address discrimination in our places of work and our communities.
How are you adapting the services you provide in response to these recent legislative changes?
BCT Partners is pivoting to the best of our ability, looking at other markets for opportunity beyond the federal marketplace. We are looking more deeply at state and local government, private foundations, philanthropies, and nonprofits, based on our history of working with these organizations. We are also monitoring the priorities coming from the White House. Every administration makes decisions on areas to reduce and areas to increase. We are monitoring how the administration is prioritizing its investments. What is already clear is that greater efficiency and evidence of what works are priorities. Given our work in the areas of AI, machine learning, data analytics, and our “Precision Analytics”, which determines what works, for whom, and under what conditions, BCT Partners is extremely well-positioned to help organizations achieve better efficiency and generate evidence of what works from investments in government programs.
How have technology programs evolved in the last year, and how are you using new technologies to better implement your operations?
For the past nine years, we’ve been investing in our own approach – “Precision Analytics” – which uses AI and machine learning to analyze the existing data already sitting in data systems, such as electronic health records systems, case management systems, electronic medical records systems, and the like. Inside those data systems are three things: intervention, intended beneficiaries, and whether or not the intervention was successful. Using this information, Precision Analytics can determine what works, for whom, and under what conditions. For any beneficiary, it can then generate a prescription – the recommended suite of interventions that maximize their outcomes, and a prediction – the anticipated improvements in their outcomes. The Precision Analytics algorithms can be embedded in any data system. We’ve created several tools and platforms to deliver these solutions to our clients, including the Outcomes Generator, which automates insight for people, and the Community Impact Compass, which automates insights for neighborhoods and communities. We have applied these solutions in the affordable housing, community development, small business development, economic development, workforce development, human services, health, education, and public safety industries, and beyond.
What are the key factors you share with your clients in regard to data collection?
We ensure that data is secure, protected and remains confidential. In the area of AI, we are also ensuring the responsible use of data while mitigating any biases that may be present. We use algorithmic approaches that engender transparency. There are black box algorithmic approaches, such as neural networks, that make it difficult, if not impossible, to explain what is happening “under the hood.” By comparison, we use algorithmic approaches, such as decision trees, which allow us to clearly trace how the algorithm is making decisions, thus engendering full transparency. Lastly, no matter what our use case for AI, we always make certain there is always a” human in the loop,” including people with lived experience, to validate recommendations and findings. In the age of AI, there should always be a human in the loop.
Have you noticed any specific sectors or industries that have seen a bigger need for the services you provide?
Yes. Health is perhaps at the top of the list. Health is an industry that is fully embracing technology and AI, because health is an industry that has an inextricable link between innovative practices and improved patient care. We have also found healthcare to be more embracing of diversity, equity and inclusion because healthcare providers recognize the importance of understanding the diverse needs of their patients. BCT Partners help ensure that healthcare providers are delivering the highest quality of care by strategically and responsibly applying technology, AI and our Precision Analytics. We offer deeper insights into what works, for whom, and under what conditions.
What are your top strategic priorities over the next few years, and what are you looking forward to?
There are two things that we look forward to at BCT Partners. First, we are in the midst of a gubernatorial election in New Jersey and will have new leadership with a new agenda. The new governor must lead with a bold vision to maintain the values of New Jersey, one of the most diverse states in the country, while protecting the rights of vulnerable communities. For 25 years, as a New Jersey-based company, BCT has been at the forefront of providing management consulting, training and technical assistance, research and evaluation, information technology, and data analytics for public, private, nonprofit, academic, and faith-based organizations to serve and better support vulnerable communities. We look forward to maintaining our thought leadership within New Jersey and throughout the country. Second, AI has been growing rapidly, and its evolution has often outpaced the understanding of how to responsibly apply these tools. BCT Partners has been investing in AI and our Precision Analytics for almost a decade. As a result, we are well-positioned to help organizations navigate the AI landscape and to do so responsibly. At BCT, our purpose is to transform lives and create lasting change. Despite these challenging times, we maintain our steadfast commitment to the fundamental tenets of respect, fairness, and justice for all.
