Management consultants in trouble as AI boosters eat themselves

Illustration Management consultants are in trouble. Accenture, the world’s biggest listed consultancy, has seen its share price fall by more than 22pc since the start of this year. The “Big Four” – Deloitte, EY, KPMG and PwC – have all seen their profits stagnate for the first time since before Covid, after years of double-digit growth. McKinsey, which pioneered the consulting industry, has also hit a slump, with its profits now slowing for the first time in years. “There’s clearly an issue,” says Jam ...