Conference explores impact of artificial intelligence on consulting
What is the impact of artificial intelligence on the consulting profession? This question will take centre stage at the ‘Artificial Intelligence in Consulting’ conference which will be held in India on the 10th of August.
The Global Council for Development of Consulting Professionals (GCDCP) is a platform that aims at contributing to the development of the consulting industry. The GCDCP realises its mission through the delivery of thought leadership, facilitating the exchange of best practices in the consulting industry, and bringing together bright minds from the industry to work on new offerings and solutions.
The platform’s first conference – GCDCP was launched last year and is headquartered in India – will be held in August, and focus on the growing role of artificial intelligence on the professional services landscape. “Artificial intelligence and machine learning are unquestionably innovations that are transforming our world and society. The technologies have already significantly disrupted several industries, including medicine, finance and marketing,” explained Ajay Sharma, organiser of the ‘Artificial Intelligence in Consulting’ conference.
The management consulting industry is set to be one of the sectors next in line. Already back in 2013, a group of well-known authors first pointed out that the consulting industry is on the cusp of disruption. Now, with the breakthrough possibilities enabled by artificial intelligence, this disruptive shift will accelerate, lifting the industry – according to Sharma and analysts across the profession globally – over its tipping point. “Being a knowledge-based industry, the consulting industry will be largely impacted as well,” said Sharma,
Similar to dynamics in other industries, artificial intelligence will allow consulting firms to take major strides in their internal operations. Intelligent algorithms can help improve the accuracy of business development processes, improve staffing and matching of resources and streamline project and administrative tasks. More value however could be unlocked in consulting’s primary process – enhancing the propositions offered by a consultancy, and the lives of consultants and the quality of work they deliver at clients.
“Artificial intelligence enables consultants to handle massive amount of data in a much more efficient and effective compared with an average human. This allows them to bolster the insights they offer on engagements, adding value to their offering,” elaborated Sharma. In a survey of international consultancy buyers, researchers found that consultancies at the forefront of the artificial intelligence revolution – those that have integrated it into both their services and operations – are best positioned for future success.
At the full-day event in New Delhi, three main questions will be explored. First is, to what extent and how will artificial intelligence add (cost-effective) insights to consulting work? Second, how will artificial intelligence impact demand for consultants – will it help client organisations to reduce their dependence on external consultants or instead pave the way for more consulting usage? And related: how will it change the ways of thinking and problem-solving applied by consultants on projects?
Bringing artificial intelligence to action
Across all topics discussed, consulting firms and independent consultants will further be provided with levers and tips as to how they can embrace artificial intelligence. Sharma: “The focus is to help established consultants grow, and help newcomers in the industry to acquire the latest tools and techniques required to become an effective consultant.”
Speakers confirmed for the event include Nishith Pathak, India's first and only Artificial Intelligence Most Valuable Professional (AI MVP); T.V. Ramachandran, President of Broadband India Forum; Pankaj Khurana, Partner at PwC; Mansoor Khan, CEO of Wavelabs; and T.R. Dua, Director General of TAIPA.
The ‘Artificial Intelligence in Consulting’ conference is held in the National Capital at Holiday Inn, Aerocity on August 10, 2019. The event will be attended by partners in consulting companies, management consultants, leaders that hire consultants and independent consultants. “The cross-pollination of ideas between clients, consultants and technology experts provide an ideal fundament for discussions and learnings,” concluded event organiser Sharma.
