First-tier consulting firms will find a way to stay relevant and continue doing business, however, the roles and tasks of management consultants will change. Candidates with a specialization in data science will thrive in the future, as humans and AI machines work together to provide practical information to customers. In general, the industry has helped clients to deal with these transformations through an optimal combination of patented frameworks, intellectual property, tools and a team of consultants trained with in-house consulting methodologies. Process mining can accelerate auditing and consulting processes and help companies identify the best processes to automate them.
With access to affordable former consultants, the advanced analysis capabilities offered by technology giants at our fingertips, and the rise of a new generation of specialized consultancies such as Palantir, management consulting will have a harder time growing.