A Reuters headline claims AI is killing consulting, pointing to projects that once cost $1 million now doable in-house for $10,000. The speaker argues consulting won't disappear, just get cheaper. CEOs will still pay for expert guidance and can't afford to ignore AI-driven efficiencies.
Reuters was the one that came up with this first, and the quote is, AI is killing consulting, right? So for example, if a company performs a project in-house, it costs around $1 million. Now with machine learning, companies can do the same job themselves for just $10,000. Will consulting become a forgotten profession in the AI era like the coachmen of the past? I don't think that's going to be the case. I think they're still going to be consulting, and I think they're still going to be able to charge a premium, but probably less. Because if you're a CEO, it would be— you would be foolish not to say, hey, with AI, we want to get some of those efficiencies. So maybe they can price pressure them down a little bit, but I think these companies will be okay.
