Consulting Giants Struggle Amid AI Shift

Management consulting giants, including Accenture, the Big Four, and McKinsey, are grappling with a significant downturn. Profits have stagnated, share prices have plummeted, and job cuts have become the norm. The culprits? A global economic slowdown, waning ESG trends, and weaker demand for cloud services. Firms are touting AI as a solution, but experts warn of a potential doom loop. Clients may resist AI-driven services or demand lower prices, exacerbating the sales slump. Critics argue that AI is merely a smokescreen, hiding real work shortages. As consultancies navigate this shift, the true impact of AI remains uncertain, but the pressure to adapt or risk obsolescence is intensifying.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.