The A.I. Boom Has an Unlikely Early Winner: Wonky Consultants

Consulting firms like Boston Consulting Group, McKinsey, and KPMG are benefiting from the current AI boom. Businesses are seeking guidance on adopting generative artificial intelligence, leading to a surge in revenue for consulting firms. Companies like IBM and Accenture are experiencing significant growth in sales related to generative AI consulting services. The demand for tech advice in the AI space is reminiscent of the dot-com boom, with businesses eager to understand and leverage the technology's potential. However, challenges such as inaccuracies and slower response times in generative AI systems have been observed, impacting projects like IBM's voice system for McDonald's. Despite these challenges, successful applications of generative AI, such as Dun & Bradstreet's Ask Procurement tool developed with IBM, demonstrate the technology's potential benefits. Consulting firms are actively engaging in projects to help businesses navigate the complexities of generative AI, showcasing their expertise in this evolving field.