AI Systems In Consulting Firms

The AI revolution has long since reached the consulting industry. Large consulting firms such as McKinsey, BCG, Bain and EY are working intensively on their own AI tools or have already successfully launched them on the market. The new technologies will massively change the jobs of more than 170,000 people in Germany who work in management consulting. 

 1. McKinsey's AI Lilli

McKinsey's artificial intelligence (AI) "Lilli" is a paradigmatic example of the use of generative AI technologies in the consulting industry. Lilli, named after Lillian Dombrowski, the first female specialist at McKinsey, is more than just a tool for analyzing data. It represents a central source of information that consolidates McKinsey's extensive knowledge and many years of experience. This enables fast and efficient access to relevant information from the company's vast data pool and provides innovative solutions and insights for client problems.

 1.1 Features and capabilities of Lilli

Lilli goes beyond simple data retrieval. She is able to make complex connections and offer unexpected but relevant solutions based on the extensive information stored. This approach makes it possible to think outside the box and offers added value that goes far beyond common, often repetitive solutions.

1.2 Implementation of Lilli

The implementation of generative AI such as Lilli requires more than just advanced algorithms. It is essential to involve interdisciplinary teams that take legal, security and business aspects into account. With the right implementation and integration, such a system can become an invaluable asset for any company.

1.3 Implications for consultancy work

Lilli has already reduced the time spent on research and planning work from weeks to hours and in other cases from hours to minutes. It is used in almost every step of the consultant-client collaboration, from pure information gathering on client industries and client competitors to the formulation of implementation plans.

2. EY.ai from Ernst & Young

2.1 Introduction to EY's AI platform "EY.ai"

EY, one of the leading audit and advisory firms, has launched a new artificial intelligence platform called "EY.ai". This platform combines human capabilities with AI to support companies in their digital transformation through the safe and responsible use of AI. "EY.ai" combines leading EY technology platforms and AI capabilities with strategy, transactions, transformation, risk, assurance and tax.

2.2 Investment and technology integration

EY has invested USD 1.4 billion in the development of this platform. This investment has enabled the integration of AI into existing EY technologies, such as the EY Fabric platform, which is used by more than 1.5 million individual users. In addition, EY has made acquisitions in the area of supporting cloud and automation technologies.

2.3 Objective and areas of application

The platform aims to tap into the full spectrum of AI knowledge and insights and make them available to companies that want to revolutionize their processes with AI. EY in Switzerland benefits from being embedded in the global EY network to directly support Swiss companies and provide them with global technical and organizational expertise.

2.4 Data protection and regulatory aspects

EY emphasizes the importance of data protection and compliance with regulatory requirements when using AI. The platform is to be used in the financial industry in particular to improve financial services, reduce costs, minimize risks and open up new business areas, while always ensuring compliance with regulatory standards.

2.5 Internal use and employee development

EY is also leveraging the benefits of AI internally and plans to introduce a comprehensive language model called "EY.ai EYQ" as well as tailored AI learning and development programs for its own employees. An initial pilot project with 4,200 EY employees has already taken place.

2.6 Conclusion

"EY.ai" represents a significant step forward in the use of AI in the consulting industry. By combining human skills and AI, the platform offers comprehensive support for companies that want to accelerate their digital transformation processes. With a strong focus on data protection and regulatory compliance, EY is positioning itself as a pioneer in the responsible use of AI in auditing and consulting.

3. MyNav from Accenture

3.1 Introduction to Accenture's MyNav

Accenture, a leading global provider of consulting and technology services, has launched an innovative platform called MyNav. This cloud platform helps organizations design and simulate different cloud solutions to identify those that best fit their specific business needs.

3.2 Navigating the cloud landscape

Choosing the right cloud solution can be complex, as there are multiple cloud providers and cloud models, including public, private, multi- and hybrid clouds. MyNav evaluates multiple variables - including an organization's technology infrastructure, applications, data, operating model and business outcomes - to identify the right solution for enterprises and then simulates it at scale to confirm its viability and refine the business case.

3.3 MyNav's unique market position

MyNav is unique in the market and the only platform that enables organizations to comprehensively discover, assess, design and simulate end-to-end cloud solutions. Accenture has supported cloud computing projects for 80% of the Fortune Global 100 in 68 countries and trained more than 84,000 professionals in cloud technologies and architectures.

3.4 MyNav and SAP in the cloud

Accenture takes the migration of SAP workloads to the cloud to the next level and accelerates the digital transformation of organizations. MyNav provides real-time insights and advanced analytics that simplify complex tasks and accelerate the migration process. The MyNav Cloud Suite for SAP is a governance, monitoring and automation solution that optimizes the operation of SAP workloads on AWS, Azure and Google Cloud.

3.5 Accenture's expertise in cloud migration

Accenture brings extensive experience and technical expertise to SAP cloud migrations. The company has actively supported over 36,000 cloud engagements and has more than 68,000 cloud-certified experts. With a team of over 7,500 sales and solution specialists, Accenture provides highly customized solutions for its clients.

3.6 Conclusion

Accenture's MyNav represents a significant advancement in cloud technology, enabling organizations to simplify their cloud migration, minimize risk and optimize their SAP systems in the cloud. With Accenture's comprehensive approach, supported by deep industry knowledge and innovative technology, MyNav paves the way for success in digital transformation. By partnering with Accenture, organizations can leverage the scalability, agility and cost efficiencies that SAP offers in the cloud to gain a competitive advantage and achieve long-term success in the ever-changing business environment.

4. AI Dividend

The introduction of AI systems in the consulting industry leads to a so-called "AI dividend". This refers to the increased efficiency and reduced processing times achieved through the use of AI. The question arises as to how the time gained is dealt with and who benefits from this AI dividend. Projects could be processed and completed more quickly, which could have a significant impact on the necessary staffing levels, the internal financial structure and therefore the business model of consultancies. Alternatively, projects could be expanded in terms of content in order to utilize the client's freed-up budget, or the project structure could remain unchanged, which would be more profitable for the consultancy. 

What is certain, however, is that those who can achieve better quality in less working time through AI generally need fewer employees, which leads to a restructuring in the personnel pyramid of consulting firms.

5. Conclusion

In summary, it can be said that AI systems such as Lilli, EY.ai and MyNav not only increase efficiency and productivity in consulting firms, but also open up new opportunities for innovative solutions and business models. They mark a turning point in the way consulting services are provided and used and represent a decisive step towards a future-oriented, technology-driven consulting industry.