It has been 83 years since Snarc, the first neural network computer, and yet artificial intelligence is more relevant than ever. With the latest AI developments, the world is excitedly discussing the impact and transformative power of this technology. Once again, companies in all industries are faced with weighing the opportunities and risks – and the consulting industry is no exception.
On the one hand, the use of tools such as ChatGPT or Microsoft 365 Copilot can increase the efficiency of consulting activities, especially for clients. On the other hand, complex qualitative requirements, such as data analysis and data-based decision making, trend forecasting, applicant selection, fraud detection, supply chain optimization, and much more, can be improved by AI.
Will artificial intelligence make consulting obsolete?
An intelligent machine has a clear advantage over a consultant in terms of objectivity, speed and broad-based expertise. Nevertheless, certain human capabilities can never be fully replicated by intelligent machines. Thus, consultants continue to be assigned to projects that have a strong implementation focus and high demands on the perception and interpretation of complex problems and emotions (such as major transformation projects). In addition, consultants remain essential for communicative support, such as in user and method trainings or the moderation of workshops.
In addition to the benefits of AI, its use also poses some risks. The most prevalent issue is the privacy of corporate information and increased vulnerability to external attacks. Furthermore, the data sources of the machines, and thus the outputs of the AI, are subject to errors and bias. The characteristic of “self-learning” represents both constant evolution, but also possible loss of control over the system. In addition, AI offers no transparency about decision paths, which reduces the traceability of results.
With all the advantages, it is clear that companies and consultancies that rely on human as well as artificial intelligence will have a competitive advantage. However, potential risks must be minimized and use regulated.
At Multiversum, we encourage responsible use of AI, actively train our consultants, and have an employee-driven AI community for constant knowledge sharing and building. We advise our clients on effective and efficient use as well as the opportunities and risks of AI. For more information, feel free to contact us!
Photo by geralt on Pixabay
