Let’s face it, we humans can be a pessimistic lot at times. Yes, we can find plenty of ‘logic’ and ‘economic data’ to back up all the doom and gloom about the year ahead - but frankly I don’t want to hear it.
Maybe I’m looking for some mis-placed optimism? Well, mis-placed or not – I decided to stop listening to the people and open my eyes and ears to the machines. I asked AI what trends will be driving the management consulting market for 2025.
Now I should start by saying that I need one of those big yellow ‘Idiot’s Guides’ for AI (an actual book of course, not an online version). I keep hearing that AI is one of the problems. Is it going to take your job away? Or my job? I’m never quite sure to be honest. Isn’t it also supposed to be the solution? I don’t know.
Either way, for this exercise it seemed fun to sort of ironically embrace the oncoming technology takeover.
Turns out I was right! The machines are more optimistic than the humans…
Straight off the bat, AI suggests that ‘AI will continue to be a major growth area’. Hmm, is this just the machine rubbing it in my face? Is it clever manipulation? Are they thinking for themselves? Is Terminator 2 real now? Is the takeover closer than we think? Well, quite possibly.
But in the meantime – if we’re being honest with ourselves - I think we would all agree with the answer.
Indeed, most industries will likely continue to invest in and use advanced digital technologies to pursue new growth, and therefore – as sure as a late-night Powerpoint - management consultancies will likely find joy in advising how best to do it.
So, AI, what else? ‘Remote and hybrid work’; again, we can’t argue with that. This will be an ever-growing conversation piece and negotiating tool among employers, job seekers and even existing employees.
It will also continue to be a growth market in itself. I fully expect ‘hybrid working strategies’ to become more and more prevalent as a specialist offering to boards, management teams and organisations of all shapes and sizes looking to navigate this new world we’re all working in.
Next on the list is ‘data analytics’.
Ok AI, you’re being a predictable now. Nothing earth shattering here; extracting insights, identifying patterns and trends and forming conclusions from large data sets are part of the essential make-up of every management consultant. They probably talk about it in chapter one of the big yellow Idiot’s Guide.
The nuance here though is that technology and data analysis have always gone hand-in-hand, and so the evolution of this area will likely continue at great pace in 2025. It should be exciting too; every newer and more interesting ways to embrace the technology and put it to good use.
Like remote and hybrid working, ‘sustainable and ethical business practices’ is as much a social/conversational trend as it is a commercial one.
This is a huge umbrella term; every firm wants to show their workplace to be more eco-friendly, more sustainable, more diverse, more engaged in CSR programmes, more engaged with staff wellness, ‘bringing your whole self to work’ etc etc – and that is as true internally for management consulting firms themselves as it is a commercial advisory opportunity for them.
It’s also more and more of a priority for potential employees too. It’s too simple to label it a generational thing, but there’s clearly a growing appreciation of just how important these issues are for those entering the workplace for the first time, or those still at the early stages of their career.
Lastly, AI suggests ‘cross-functional expertise’. You’ve sort of veered off at an angle here AI – but I like it.
I don’t think the value of a specialist in a certain field – whether firm or individual - will ever lose its value or place in the market, but it’s definitely true that companies or consultants with broad knowledge across various fields will always be in high demand. We’ve long been living in a consulting environment where many clients want a ‘one shop solution’.
This should be good for the boutiques and the challenger advisories; a tendency towards strategy and implementation and smaller project teams where everyone is a well-rounded consultant and able to actually speak with you, the client.
Ok, I’m not going to abandon humans just yet but I do like what my new friend AI offered. Yes, it has no actual emotions and I don’t want to be stuck in the kitchen at a party with it…but dealing in straightforward facts is maybe what gives it a more optimistic worldview than we all have right now? Maybe taking the emotion out of it can be a good thing sometimes?
Look, AI’s headline was that ‘the consulting market is set to grow to over $400 billion by 2025’. That sounds great! I like the word ‘grow’, I like ‘billions’.
Brilliant, so that’s all sorted then. Have a great Christmas and enjoy the knowledge that 2025 will actually be a cracking year. The machines may actually take over at some point – in fact I’m almost certain of it - but, until that point, let’s all smile. Fala la la la…… 😊
- by Tariq Siraj