The demand for guidance on generative AI has led to a boom for consulting firms. IBM has secured over $1 billion in sales commitments related to generative AI, while Accenture booked $300 million in sales last year. McKinsey expects 40% of its business this year to be generative AI-related. KPMG International, which had no revenue from generative AI work a year ago, is now targeting over $650 million in business opportunities tied to the technology.
Key takeaways:
- Businesses are increasingly seeking guidance from consulting firms like Boston Consulting Group, McKinsey and KPMG on how to adopt generative artificial intelligence.
- Boston Consulting Group now earns a fifth of its revenue from work related to artificial intelligence, up from zero just two years ago.
- IBM has secured more than $1 billion in sales commitments related to generative A.I. for consulting work and its WatsonX system.
- KPMG International went from making no money a year ago from generative-A.I.-related work to targeting more than $650 million in business opportunities tied to the technology over the past six months.