Artificial intelligence and the consulting industry: A blockbuster opportunity or another blockchain?
Without demonstrating serious use cases for AI, firms are unlikely to generate much in the way of consulting demand.
We estimate that the market for AI advice and implementation services in 2022 was worth around $18bn (that’s excluding software and related sales – see figure 1). This is a number we reached by literally counting people in all major and many mid-sized consulting and professional services firms, applying ‘revenue per professional’ metrics to the results, and, where we can, calibrating our numbers with publicly available data.