Will AI Replace Business Consultants?

David Pereira, the head of generative AI for Europe and Latin America at consulting and IT services firm NTT Data, believes AI is both a boon and a potential threat to the consulting industry.

The Dual Impact of AI on Consulting

AI is rapidly transforming business operations, automating tasks that were once the domain of human consultants. From software development to market research, AI tools are accelerating processes and reducing the need for manual intervention. However, this shift raises a critical question: Will consultants become obsolete?

The Consultant's New Role

Pereira acknowledges that AI is a powerful ally for consultants, enabling them to deliver insights and solutions faster than ever before. For example:

• Faster software development: AI can generate code, test applications, and identify bugs in a fraction of the time it takes humans.
• Enhanced research capabilities: AI-powered tools can analyze vast datasets, uncovering trends and opportunities that might otherwise go unnoticed.

The Threat to Traditional Consulting

Despite these advantages, AI also poses a significant challenge to the consulting business model. As companies increasingly rely on AI for decision-making, the demand for human consultants could decline. Pereira warns that firms must adapt or risk being sidelined.

The Future of Consulting

The consulting industry is at a crossroads. While AI offers unprecedented efficiency, it cannot yet replicate the nuanced judgment and interpersonal skills of human consultants. The key to survival may lie in integrating AI as a tool rather than viewing it as a replacement.

Courtesy of NTT Data