"The advice offered by management consultants is becoming less valuable in the age of LLMs, leading to increased pressure for consultants to develop more granular expertise and specialization."
"The giants of the consulting space have been vocal about their use of AI and have already shed scores of consultants who were hired during the pandemic."
"Management consultants are facing the toughest job market since 2008, with demand for generalists declining while hiring for specialized consultants remains strong."
"Hiring for consultants with a niche focus in sustainability, defense, supply chains, and tech is stronger than hiring for general management consultants."
Artificial intelligence is transforming the strategy consulting industry, valued at $400 billion, by reducing the demand for generalist consultants. The rise of large language models (LLMs) is making traditional consulting advice less valuable, prompting firms to seek consultants with specialized expertise. Many consulting firms have already reduced their workforce, and industry professionals predict that AI could displace another 25% of management consultants. While the job market for generalists is challenging, there is a growing demand for niche consultants in areas like sustainability and technology.
Read at www.businessinsider.com
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