Artificial Intelligence’s Impact of the Management Consultancy Sector over the Next Five Years

Oarue-Itseuwa Esioze

Management Consulting Journal, 2024, vol. 7, issue 1, 49-58

Abstract: This essay explores the imminent impact of Artificial Intelligence (AI) on the management consultancy sector over the next five years. After tracing the historical context of technological innovation and societal unease with disruption, we delve into the current landscape of management consultancy, emphasizing its evolution and present dynamics. Specialized themes in the consultancy market today, such as internal consulting and data-centric approaches, highlight the industry’s dynamism. The core focus anticipates the implications of AI on management consultancy, with a shift towards AI-powered analytics and insights transforming consultants’ roles. Market segmentation deepens as specialized AI-driven consulting firms emerge, challenging traditional players. The competitive landscape witnesses the entry of tech giants, intensifying competition and prompting strategic shifts in consultancy models. A forward-looking perspective considers changes in pricing and cost structures, emphasizing ethical considerations in AI deployment. In this transformative landscape, a blended future emerges, envisioning AI-driven quick insights complemented by human consultants offering context, creativity, and empathy. This condensed exploration provides a crucial foundation for academics, industry practitioners, and policymakers navigating the evolving interplay between AI and management consultancy.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:mancon:v:7:y:2024:i:1:p:49-58:n:3

DOI: 10.2478/mcj-2024-0005

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