The Future of Consulting: Can AI and Consultants Coexist?
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Published:
October 6, 2023
Reading Time:
6 minutes
You’ve probably watched the 2004 sci-fi movie called I, Robot in which Will Smith played the lead role. The movie featured self-driving cars and human-like robots that helped the actors with day-to-day tasks.
Well, during that time, it was a work of fiction—now it’s a reality. However, in that movie, scarily enough, robots and AI try to take over humans. So, can that become the new reality, too? And how will it affect consultants?
As we stand at the beginning of a new era in consulting, it's essential to recognize that the role of human consultants remains as crucial as ever. Human consultants possess a deep understanding of the nuances, intricacies, and cultural factors that AI cannot comprehend yet.
However, on the other hand, AI has become the linchpin for processing vast volumes of data, extracting valuable insights, and executing complex analytical tasks.
But what if artificial intelligence (AI) and human consultants not only coexist but thrive together? You see, if you look closely, AI may be more of a collaborative partner than a threat. After all, artificial intelligence stems from human intelligence and needs human input to be functional.
In this article, we’ll discuss the use of AI in consulting. We’ll also understand how human consultants can leverage AI, instead of being scared of it, and find a balance that maximizes the strengths of both.
Well, during that time, it was a work of fiction—now it’s a reality. However, in that movie, scarily enough, robots and AI try to take over humans. So, can that become the new reality, too? And how will it affect consultants?
As we stand at the beginning of a new era in consulting, it's essential to recognize that the role of human consultants remains as crucial as ever. Human consultants possess a deep understanding of the nuances, intricacies, and cultural factors that AI cannot comprehend yet.
However, on the other hand, AI has become the linchpin for processing vast volumes of data, extracting valuable insights, and executing complex analytical tasks.
But what if artificial intelligence (AI) and human consultants not only coexist but thrive together? You see, if you look closely, AI may be more of a collaborative partner than a threat. After all, artificial intelligence stems from human intelligence and needs human input to be functional.
In this article, we’ll discuss the use of AI in consulting. We’ll also understand how human consultants can leverage AI, instead of being scared of it, and find a balance that maximizes the strengths of both.
KEY TAKEAWAYS
- The role of human consultants remains crucial in the era of AI because they possess insights into the nuances that AI cannot understand.
5 Ways AI and Consultants Can Work Hand-in-Hand
Now, let’s discuss several ways in which consultants can use artificial intelligence as their junior assistant and improve their performance. So, let’s dive into it.
So, how can AI help in this case? Let’s understand.
This enables a quick and thoughtful response to evolving situations. Besides this, AI is also good at pattern recognition and finding trends within data.
AI cannot do this as accurately because nothing can replace actual human work experience. Consultants also have deep industry knowledge that they can use to filter out irrelevant information. This can help them focus on data points that are most relevant to the client's specific goals and challenges.
Furthermore, AI can also process vast volumes of market data and economic indicators in real-time. This can be used to identify market trends and fluctuations.
This collaborative approach can help consultants create a comprehensive risk management process that doesn’t leave any stone unturned.
According to research, automation has enhanced job roles for 90% of knowledge workers and boosted productivity for 66% of them. So, let’s check out how AI can make consultants more efficient.
Also, AI can automate routine, repetitive tasks that are time-consuming for humans. So, leave the data entry, document processing, basic data analysis, and all the other boring tasks to AI.
By not wasting any mental energy on mundane tasks, consultants can focus on creative problem-solving. This is a surefire way to become more efficient.
Besides, AI-based tools can also help companies keep tabs on competitors' activities, pricing strategies, and customer sentiment.
Furthermore, human consultants can create personalized marketing campaigns and product development strategies more efficiently than AI.
Also, one can use AI to automate routine cybersecurity tasks, such as patch management and vulnerability scanning. How convenient!
Furthermore, from a legal standpoint, consultants can ensure that the organization's cybersecurity practices align with legal and regulatory standards.
1. Data Analysis and Recommendations
If you’ve been a consultant for even a month, you already know the importance of data in your job. From data collection from multiple sources to detailed analysis and recommendations, consulting is basically making data-based decisions.So, how can AI help in this case? Let’s understand.
AI’s role
Speed is the biggest role of AI when it comes to data processing. Unlike humans, AI has the exceptional ability to process enormous datasets with speed and precision. AI systems can go through vast amounts of data in a fraction of the time it would take a human consultant.This enables a quick and thoughtful response to evolving situations. Besides this, AI is also good at pattern recognition and finding trends within data.
Consultant’s role
Even though AI can identify patterns and trends, it's the human consultant who interprets these insights and translates them into actionable strategies. Consultants, through their previous experience, can predict what recommendations are more likely to work in a real-life situation.AI cannot do this as accurately because nothing can replace actual human work experience. Consultants also have deep industry knowledge that they can use to filter out irrelevant information. This can help them focus on data points that are most relevant to the client's specific goals and challenges.
2. Comprehensive risk assessment
As a consultant working for a client, you’ll be expected to be the intelligent one and predict and mitigate risks beforehand. Let’s see how AI can make you more competent in this scenario.AI’s role
First, AI fraud detection systems can swiftly detect unusual or suspicious activities. For instance, AI can analyze customer data within a CRM system and notice unusual behavior, such as a sudden spike in customer complaints or suspicious account access.Furthermore, AI can also process vast volumes of market data and economic indicators in real-time. This can be used to identify market trends and fluctuations.
Consultant’s role
Consultants can work hand-in-hand with AI to develop and implement risk mitigation strategies. First, AI can highlight areas of potential risk after receiving human input. Then, human consultants can devise and execute strategies to minimize those risks.This collaborative approach can help consultants create a comprehensive risk management process that doesn’t leave any stone unturned.
3. Efficiency and automation
Surely, human consultants are some of the most efficient professionals out there. However, AI and automation can make them even more efficient.According to research, automation has enhanced job roles for 90% of knowledge workers and boosted productivity for 66% of them. So, let’s check out how AI can make consultants more efficient.
AI’s role
Are old and inefficient processes slowing you down? Well, AI can optimize complex workflows and processes by analyzing data and identifying bottlenecks or inefficiencies.Also, AI can automate routine, repetitive tasks that are time-consuming for humans. So, leave the data entry, document processing, basic data analysis, and all the other boring tasks to AI.
Consultant’s role
When AI automates routine tasks, consultants can dedicate more time to strategic planning. They can analyze AI-generated insights and use them to develop long-term strategies for their clients.By not wasting any mental energy on mundane tasks, consultants can focus on creative problem-solving. This is a surefire way to become more efficient.
4. Market research
Market research, or any type of research, can be a nerve-wracking job. But don’t worry, AI can rescue you here as well. Let’s understand how.AI’s role
From social media and news articles to online forums and market reports, AI can fetch a large amount of data within seconds. Honestly, at a scale that would be impractical for humans. AI can also process and analyze vast datasets to identify patterns, trends, and correlations in market data.Besides, AI-based tools can also help companies keep tabs on competitors' activities, pricing strategies, and customer sentiment.
Consultant’s role
Using AI-generated insights, consultants can evaluate the competitive landscape, assess market share, and identify opportunities for differentiation. Although AI can collect data at a lightning-fast speed, it’ll take an experienced consultant to turn it into actionable recommendations and strategies for their clients.Furthermore, human consultants can create personalized marketing campaigns and product development strategies more efficiently than AI.
5. Cybersecurity
The only way to keep your data safe is to use a pen and paper. Meaning that if something is on the internet, hackers can access it. So, how can AI and consultants work together to enhance cybersecurity? Let’s find out.AI’s role
First, AI-powered anti-malware solutions can use machine learning to identify and quarantine malicious files or code. Secondly, AI can detect fraudulent access attempts and block unauthorized users—this can work in conjunction with multi-factor authentication (MFA) systems.Also, one can use AI to automate routine cybersecurity tasks, such as patch management and vulnerability scanning. How convenient!
Consultant’s role
First of all, a company will need consultants to assess its cybersecurity posture by identifying vulnerabilities, potential threats, and weaknesses in its systems and processes. They can then develop comprehensive cybersecurity strategies that are tailored to the client's specific needs. And these strategies could include the use of AI systems.Furthermore, from a legal standpoint, consultants can ensure that the organization's cybersecurity practices align with legal and regulatory standards.
Conclusion
So, it’s evident that the use of AI in consulting will be on the rise in the future. However, that doesn’t mean consultants should worry about losing their role. In reality, it seems like AI and consultants can share their powers with each other to produce superior results for clients.
Here at Consultport, the world’s leading online consulting platform, we have over 10,000 freelance consultants in our talent pool. Our consultants offer services in a range of industries—from digital transformation to strategy consulting. And do they use AI in consulting projects? The answer to that question is a resounding yes!
Actually, we have written an article about how AI can enhance the results of consulting projects in the following industries: Customer Support, Human Resources, Sales, and Finance. Here’s the link: Artificial Intelligence.
And if you’d like us to find you an experienced consultant who is well-versed in using AI systems in consulting, get in touch now.
Here at Consultport, the world’s leading online consulting platform, we have over 10,000 freelance consultants in our talent pool. Our consultants offer services in a range of industries—from digital transformation to strategy consulting. And do they use AI in consulting projects? The answer to that question is a resounding yes!
Actually, we have written an article about how AI can enhance the results of consulting projects in the following industries: Customer Support, Human Resources, Sales, and Finance. Here’s the link: Artificial Intelligence.
And if you’d like us to find you an experienced consultant who is well-versed in using AI systems in consulting, get in touch now.
