The implications of artificial intelligence in management consulting: A risk and barrier assessment

In the world of management consulting, a looming question is whether artificial intelligence will replace management consultants or not or perhaps not entirely. However, the field of management consulting is likely to undergo dramatic changes in the near future. Based on more precise pattern recognition, artificial intelligence can assist management consultants in resolving issues, creating value, maximising growth, and improving business performance. Management consultants provide objective advice and expertise using their business skills, and assist an organization in developing any specialist skills that it may lack. Artificial intelligence can assist management consultants in generating structures, performing data analytics quickly and serving as a personal and data assistant. As artificial intelligence (AI) has advanced rapidly in recent years, many applications have been developed in management consulting. Enhancing the productivity of management consulting could be one of the most economically and socially beneficial uses of artificial intelligence. Through the use of artificial intelligence (AI), management consulting companies and individual consultants may be able to grow, innovate, and meet global challenges in an accelerated manner. As a career, management consulting can be one of the most rewarding and satisfying in terms of both remuneration and job satisfaction. The use of artificial intelligence in management consulting can, however, pose some security and ethical challenges which are discussed in this paper.