Is AI a friend or a foe?

CONSULTANTS WHO CAN'T USE THESE TOOLS WILL FIND IT HARD TO KEEP UP

- SUDHIR CHOWDHARY

WORKING AT TOP consulting firms like McKinsey, Boston Consulting Group (BCG) and Bain & Company is a dream for many business school graduates, and it's not hard to see why. Rapid career growth, diverse learning opportunities, high salaries and access to high-level decision-makers, make consulting truly a global profession.

Yet, there are challenges.

Artificial intelligence (AI) is transforming the consulting industry rapidly and redefining how consultants are delivering insights, strategy, solutions, and ROI for clients. The consulting business model is shifting from just people-based to talent plus AI-powered software, as consultancies are leveraging their knowledge, IP and deep expertise into software products that can be recurring revenue streams on top of the human-led experience they provide to clients. Tasks that once took days or even weeks to do can now be executed within a matter of minutes.