Generative AI platforms share traits with consultants—both are ubiquitous, embed in business operations, and repurpose information into tailored solutions. While AI won’t fully replace consultants, broader access to cheap, machine‑generated advice challenges traditional billing models. At Accenture’s investor day, CEO Julie Sweet argued that large IT‑centric firms have the breadth and talent to help clients achieve AI ambitions.
Strategy consultancies like McKinsey, BCG, Bain, and boutique firms remain ready to provide road maps. However, clients increasingly turn to machines for simpler problems, leaving top‑tier consultancies to compete for high‑end AI work. AI labs such as Anthropic and OpenAI are now courting premium consulting business, pressuring established firms’ economics.
Traditional mandates are being internalized or AI‑handled, forcing consultants to focus on results‑based pricing. Historically, consultancies have adapted to disruptions—internet, digitization, Big Data, cloud—by emphasizing AI efficiencies and quickly adopting the technology. As AI becomes more capable, businesses still need reassurance, but the form and cost of that guidance are shifting.
Source: Financial Times Companies · Summarized by HeadlinesBriefing