Critical Review

Executive Summary

This paper highlights the impact of implementing Artificial Intelligence (AI) systems in management consulting firms and discusses the adverse effect on the occupational sector. AI has been studied for a long time now and has progressed to digitalizing several sectors in the value chain process in management consulting. Consulting firms traditionally have adopted a solution shop business model but now due to digitalization, these firms are being force to adopt a more value added process model. This enables consultants to add value to incomplete projects where the scope is defined. These processes are more streamlined to meet the client’s requirements in terms of fast data and big data analytics.

Due to AI integration in consulting firms, the conventional organizational structures of these firms are being altered, if not already. Junior analysts are the first set of positions to be targeted as all those tasks carried out by junior analysts are now being automated. No longer are junior analysts required to spend hours gathering data or drawing up various trend reports. Moreover, small startups have adopted value added business models that cater fast data and big data analytics, threating big consulting firms.

From our analysis stage we narrowed down four startup companies that are currently disrupting the top tier firms by implementing big data analytics and predictive technology to deliver value faster than any traditional consulting company could. The next stage we looked at is will AI affect the mid-level and C-suite management and how the management team can use AI as a tool for strategic decisions. Lastly we provided our recommendations that top tier companies can implement to move to a digital platform. Subsequently entrants in the market offer services that are more cost effective and not time consuming. Lastly we provided our recommendations that top tier companies can implement to embrace artificial intelligence in every aspect of the...