Future of Consulting
- The perception that AI tools like ChatGPT might replace consulting firms is a concern, but core principles will remain.
- Enterprises will still seek external validation and expertise from consulting firms.
- Firms offer aggregate knowledge and experience across various issues, which is attractive to enterprise buyers.
- Expect radical changes in consulting and professional services despite these enduring aspects.
Shift to Results-Based Pricing
- Expect a shift from billable hours to results-based models due to AI's impact on reducing the cost of inputs.
- AI democratizes specialized knowledge and reduces discovery time, making input-based pricing less relevant.
- Focus on earning money based on the value provided rather than the time spent.
- Expect pricing experiments based on outcomes that align consultants' incentives with their partners' success.