Many large and not-so-large companies want to hang the label "generative AI" around their necks, even though their executives and managers may not fully understand what these technologies can bring to their organization or why exactly they need to use them. However, if they do not and do not "adorn" themselves with AI, they could be left behind by their competitors or miss out on a wave that everyone wants to ride, no matter the cost.
In this context, consultancies play a crucial role. They are the experts that companies turn to when they can afford to introduce these AI innovations on an ad hoc basis, bringing them significant economic benefits.
IBM, for example, employs 160,000 consultants and has received a whopping 1 billion dollars in revenue commitments related to generative AI and its WatsonX system.
Another example is KPMG International, which has likely invoiced over 650 million dollars in the last six months due to business opportunities in the US related to GenAI.
In an article published in the New York Times in June, this surge in demand for consulting services related to this emerging technology is compared to the dot-com boom before the turn of the millennium.
"In the mid-1990s, CEOs were saying, 'I do not know what a website is or what it can do for my business, but I need it,'" said Nigel Vaz, CEO of Publicis Sapient. "Now it's similar. Companies are saying, 'Do not tell me what you can create. Tell me what you can create for me'".
According to a study by IBISWorld, the management consulting industry in the U.S. is expected to bring in $392 billion this year, a 2% increase over last year. Much of this revenue is due to companies' interest in integrating generative AI technology into their business.
This phenomenon is not just in the US, but worldwide. No one wants to be left behind.
Sopra Steria, a European giant with over 4,000 consultants in 30 offices across the continent, has its consulting arm, Sopra Steria Next. "The main benefit of generative AI is that it allows the consultant to optimize their time management and maximize the skills and talent available. In other words, it enables augmented advisors," comments Daniel Díaz Hurtado, Manager of the Data & A.I. Practice at Sopra Steria Next.
"If we want to be more specific, the main benefits of generative AI in consulting include the creation of new, coherent and similar data to the input data, which enables innovation and transformation in advanced analytics. It also facilitates the creation of creative content in different formats such as text, code, audio and images, which increases efficiency and reduces the need for manual adjustments in other models," explains the expert.
Sopra Steria has developed several assistants that enable a better user experience and personalized experiences in different areas. In marketing, they have helped a large consumer goods company to optimize online visualization and advertising for tens of thousands of websites by combining AI analytics and generative AI technology. In addition, in the area of development and knowledge management, they have launched several programs to implement this technology, both externally and internally.
However, Díaz notes that "there is a real lack of understanding of the benefits and risks of using AI." According to him, their consultants typically work on reducing security vulnerabilities, minimizing uncertainty, optimizing data-driven decisions, etc.
One of the biggest challenges for a consulting firm operating in different markets is "adopting A.I. while complying with applicable regulations."
According to the data and AI manager, "several multidisciplinary teams and experts of different nationalities are working intensively on the explainability of AI and its responsible and ethical use." In addition, "several dozen highly competent consultants are working to create the necessary framework conditions to minimize the inherent risks of the technology and its potential impact."
Looking to the future, Sopra Steria Next emphasizes that "generative AI is becoming a transformative force in the business world. In the coming months, new tools will come to market that will extend and enhance existing AI applications".
Other consultancies
In addition to technology consultancies, generative AI is also having an impact on communications and marketing consultancies.
Mónica González Ortín, Country Manager of Axicom and Director of AI COMM (Network of Communication Directors in transformation with AI), says that they are using AI generatively to offer more efficient and personalized services. They use these technologies in content creation, creativity, data analysis and process automation.
"We use generative AI to offer more efficient and personalized services. For example, we have implemented sentiment analysis models that help our customers to better understand the public perception of their brands or to create more personalized content, high-quality reports, advanced image generation, etc."
According to González, the main benefits of implementing generative AI into their consulting services are "greater operational efficiency and the ability to offer highly personalized and scalable solutions." With the help of AI, they have been able to "reduce the time it takes to analyze data, which translates into faster delivery for our clients."
However, the Managing Director of Axicom Spain notes that they do not use the results of AI as such, as they see AI as "a "facilitator, a co-pilot, but not a replacement"
The director of AI COMM believes that in the coming years, AI will be more integrated into all research and development processes for communication strategies and that professionals in this field "need to acquire skills in data analysis, programming and mastery of AI tools."
