AI changes the game for consulting

Technology is reshaping career trajectories in unprecedented ways. It’s a common theme across generations, but the advent of AI marks a true turning point. With its vast array of applications already in play, AI is more than just a buzzword; it’s a transformative tool. How are you and your teams adapting to leverage AI as an asset rather than viewing it as a threat? Effective AI utilization starts with crafting precise prompts—ask better questions to unearth superior results. For instance, I use AI to draft initial statements of work, saving time before legal review. This approach not only streamlines processes but also integrates expert oversight, ensuring quality and precision. How are you integrating AI into your workflow to enhance efficiency and decision-making? Reach out for a conversation - Clement King Executive Consulting LLC #ai #technology #skillsets #training #risk #compliance #legal #recruiting Alessandra Riemer

Consulting giants and law firms are looking to AI to speed up the time it takes junior staffers to make it to the prestigious partner level -- some of the highest paying jobs in the City of London. If the early experimentation pans out, it would mark a seismic shift for professional services firms, which are known for subjecting junior staffers to years of tedious work. EY said the firm is looking to take "take years off of the time it takes for somebody from when they’re hired to when they become a partner.” KPMG graduates are now doing tax work that was previously reserved for staff with at least three years of experience. And PwC new hires are spending more time pitching clients rather than the hours they used to spend prepping meeting documents. Read more in my Bloomberg News story here: https://lnkd.in/eY4e4bY4

Consulting giants and law firms are looking to #artificialintelligence to speed up the time it takes junior staffers to make it to the prestigious partner level. At?KPMG, for instance, freshly-minted graduates are now doing tax work that was previously reserved for staff with at least three years of experience. Over at?PwC, junior staffers?are spending more time pitching clients rather than the hours they used to spend prepping meeting documents. And at Macfarlanes LLP, junior lawyers are interpreting complex contracts that their more—experienced peers used to have to handle. “We are trying to take years off of the time it takes for somebody from when they’re hired to when they become a partner,” said Jeff Wong, EY’s chief innovation officer. Read more on Fortune: https://lnkd.in/ggfRRMs5

When it comes to Artificial Intelligence— two things are true: 1. It could shift out alot of roles and change the job market 2. It could also help shape how we view and do jobs in the future I believe it was an executive from Google who stressed that his vision of AI was that it would help people complete tasks and not task them out. So to see firms like using AI to help shape their workforce quicker is very interesting. Firms like KPMG and PwC are speeding up the time it takes junior employees to make it to the partner status. They are implementing technology to help eliminate the repetitive, time-consuming tasks that typically fill up their first few years on the job. This leads to employees becoming effective in not only a more enhanced way but also by showing them the path clearly. Making partner at these firms are highly prestigious, but also pressuring. So could using the integration of AI help take the pressure off while giving them a resource to curate a better experience? By 2030, activities that account for up to 30 percent of hours currently worked across the US economy could be automated—a trend accelerated by generative AI, per McKinsey. While this could become the way for these types of programs, about two-thirds of Americans say they would not want to apply for a job if AI were used to help make hiring decisions (Pew Research). AI is still new to many areas of work and life, so this stack will be interesting to see play out like a game of Tetris in the workplace in years to come. #ai #artificialintelligence #workplace

Great article from Bloomberg on generative AI's impact on professional service organizations. The concept of the 10x programmer applies equally to attorneys and certain other professional service providers, and generative AI will only increase stratification between the best and average. https://lnkd.in/gJcqyvkR

Consulting giants and law firms are looking to AI to speed up the time it takes junior staffers to make it to the prestigious partner level -- some of the highest paying jobs in the City of London. If the early experimentation pans out, it would mark a seismic shift for professional services firms, which are known for subjecting junior staffers to years of tedious work. EY said the firm is looking to take "take years off of the time it takes for somebody from when they’re hired to when they become a partner.” KPMG graduates are now doing tax work that was previously reserved for staff with at least three years of experience. And PwC new hires are spending more time pitching clients rather than the hours they used to spend prepping meeting documents. Read more in my Bloomberg News story here: https://lnkd.in/eY4e4bY4

In the fast-paced world of artificial intelligence, consulting firms are having to embrace the transformative potential of generative AI. There is an increasing need for young, knowledgeable professionals to bridge the gap between technical AI expertise and practical business applications. This significant new focus on implementing AI in all industries, but particularly the consulting industry excites me so much about working in the consulting field in the future!