Artificial Intelligence and the Consulting Industry
Previously, I explored the value of eminence and thought leadership to consulting firms, and how unfortunately the power of inbound content marketing has a dark side that forms part of a three-pronged attack on the consulting industry.
Meanwhile, the tireless invention and innovation efforts of research teams in companies around the world have helped to keep the pace of technological advancement in computer processing power at or above Moore’s Law for several decades. This has given technology companies the ability to put more computing power than the entire Apollo space program into the pockets of more than a billion people around the world.
It seems like everything has become digital, including music, books and even movies. Increasingly, intelligent digital technologies and mercurial customer expectations threaten both people and enterprise at every turn. With all of this technological change, the last few decades have been an amazing time for consultancies, full of revenue and opportunities. Clients desperate for solutions to help them cope with these challenging times helped management consulting firms grow in size and scale, expanding to cover multiple technology—and even marketing—specialties.
But the same technologies that have led to the growth of consulting companies over the last couple of decades will begin to lead to a shrinking of those
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