Re:GPT-4 increased BCG consultants’ performance by over 40%
by RandomLensman on Saturday September 30, 2023 @12:57PM
(#37717338)
Mangement consultants get comparatively small money from (large) firms. The total revenues going to McK, BCG, and Bain are only about $30B annually.
Until then, our leaders, experts and institutions were few of those things during the pandemic.
How large businesses are built and run has changed faster and more in the past few years than the principled predictions of a business’ future vector that are based on lagging indicators.
It also depends on how cookie cut the management consultant frameworks and “toolkits” are.
It’s no coincidence that it’s mostly juniors doing so much of the work and billing. New or average talent is more profitable per hour to bill than experience.
Financially, if $7-8 of every $10 for improvement went to a management consulting undertaking, the other $2-3 is what’s left over for the rest without even knowing. This would be the coup, if this were true.
The fun part to watch for is is tech people will be able to learn business easier than business people will be able to learn and apply tech when they can’t understand it’s capabilities or possibilities beyond speaking points.
The technical analyst will M&A the business analyst. Maybe they learn to extract Management Consultant type value too.