The management consulting industry to date has been largely unscathed by the wave of technological change that has dramatically reduced profitability and employment in industries such as music and publishing. However, there are signs that digital technologies are now beginning to disrupt the management consulting industry as well, with potentially deep and far-reaching consequences for both firms and workers in the industry.
Recent research from the University of Oxford suggests that 47 percent of U.S. jobs are at risk of being replaced by technology over the next two decades, including 'knowledge work' occupations once thought out of the reach of computerization, such as accountants, paralegals, financial advisors, and even market researchers. Could management consultants be next?
WATSON STORE FOR CONSULTING?
"'Quiz show contestant' may be the first job made redundant by Watson, but I'm sure it won't be the last"
—Former Jeopardy! champion Ken Jennings, on losing to IBM's Watson system in 2011