AI Is Coming for the Consultants. Inside McKinsey, 'This Is Existential.'

I've been watching the consulting world for years, and let me tell you - things are getting weird. McKinsey, that titan of business advice, is sweating bullets right now. Why? Because AI is basically doing their job now. And doing it fast.

For almost a century, companies have shelled out big bucks for McKinsey's human brainpower. Makes sense, right? Their army of consultants has helped countless CEOs tackle messy problems, making sense of complex information and mapping out next steps. But now? That whole model is under threat.

AI can crunch data, analyze information, and spit out a slick PowerPoint deck in minutes - sometimes seconds. The same work that McKinsey's consultants (who charge eye-watering hourly rates) might take days or weeks to complete. Talk about an existential crisis!

I spoke with several industry insiders last month, and the tension is palpable. "This isn't just another tech disruption," one former McKinsey partner told me. "This strikes at the heart of what consulting firms actually do."

Interestingly, McKinsey isn't exactly a stranger to AI. About 40% of their revenue already comes from advising on AI and technology. But there's a huge difference between selling AI consulting services and having your core business model threatened by the very technology you're promoting.

The future consulting industry might look totally different. Some firms are frantically trying to integrate AI capabilities into their workflow while maintaining that human touch clients supposedly value. Others are doubling down on areas where AI still struggles - like emotional intelligence , ethical decision-making, and creative problem-solving.

But can they adapt fast enough? The AI consulting market growth has been explosive. Just last year, I watched several startups with AI-powered consulting platforms secure massive funding rounds. They're offering similar services at a fraction of the cost.

What's McKinsey's strategy? From what I can gather, they're trying to position themselves as guides through the AI transformation rather than just information processors. Smart move, probably. But is it enough?

The generative AI consulting space is getting crowded. And honestly, some of these AI tools are getting scary good at the analysis part of consulting. They're not just faster - in some cases, they're finding insights humans might miss.

So what's the endgame here? Will the big consulting firms successfully transform themselves? Or will AI impact consulting so dramatically that we see a fundamental reshaping of the industry?

One thing's for sure - McKinsey and their competitors aren't going down without a fight. But when your business model has worked for nearly 100 years, changing course isn't exactly easy.

The next few years will be fascinating to watch. And kinda terrifying if you're a consultant.