How Top Consulting Firms Are Helping Companies Leverage AI for Competitive Advantage
Artificial intelligence (AI) is no longer just an experimental technology—it has become a critical business tool that companies are integrating into operations, decision-making, and strategy development. However, many organizations struggle with AI adoption due to lack of expertise, security concerns, and workforce readiness.
To bridge this gap, top consulting firms—including Deloitte, EY, KPMG, McKinsey, and PwC—are helping businesses develop AI strategies, deploy cutting-edge tools, and upskill employees. These firms are not just advising clients; they are also using AI internally to enhance research, automate routine tasks, and optimize decision-making.
This article explores how AI leaders at major consulting firms are leveraging AI-powered tools like GPT Enterprise, McKinsey’s Lilli, EYQ, and PwC’s ChatPwC, and their best practices for maximizing AI’s impact in the corporate world.
How Consulting Firms Are Using AI Internally
While many businesses are still figuring out their AI strategies, leading consulting firms have already incorporated AI into their daily workflows. They rely on AI-powered tools from OpenAI, Google, Microsoft, and Anthropic, as well as proprietary AI chatbots designed for internal use.
These AI models are helping consultants conduct research, generate insights, automate tasks, and streamline communication, making them more efficient and data-driven.
Insights from AI Leaders at Top Consulting Firms
1. AI as a Research and Analysis Tool
📌 Dan Priest, US Chief AI Officer at PwC:
“AI serves as a thought partner rather than just a search engine. It doesn’t just provide labor statistics—it identifies trends, performs root cause analysis, and highlights discontinuities in the data.”
Example:
When researching labor productivity trends, Priest used GPT Enterprise to analyze vast amounts of data. Instead of simply returning raw statistics, AI helped uncover hidden insights and patterns, improving the quality of analysis.
📌 Takeaway: Businesses can use AI to go beyond basic search queries, leveraging it as an intelligent research assistant that can identify blind spots and missed opportunities.
2. AI for Decision-Making and Strategy Development
📌 Todd Lohr, Head of Ecosystems at KPMG:
“AI enables leaders to synthesize large volumes of information, track market trends, and gain a broader strategic perspective. It improves preparation for meetings and enhances decision-making.”
Example:
Lohr and his team at KPMG use AI to ingest and summarize industry reports, identify emerging trends, and automate meeting follow-ups, ensuring more informed discussions and strategic clarity.
📌 Takeaway: Executives can leverage AI for real-time market analysis, allowing them to quickly adapt to changes and make data-driven decisions.
3. AI for Compliance and Policy Optimization
📌 Dan Priest, PwC:
“We ran one of our internal policies through GPT Enterprise and discovered two critical points that were missing. AI helped us improve the policy structure and compliance.”
Example:
AI was used to review PwC’s internal policies, ensuring they were comprehensive and aligned with regulatory frameworks.
📌 Takeaway: AI can be a powerful compliance tool, helping businesses identify gaps in policies, contracts, and legal documents to mitigate risks.
AI-Driven Chatbots: A Game-Changer for Consulting Firms
Many consulting firms are developing their own AI-powered chatbots to manage knowledge, enhance productivity, and support client engagements.
🔹 McKinsey’s Lilli
McKinsey has built Lilli, an internal AI assistant that helps consultants find relevant case studies, summarize reports, and answer industry-specific questions.
📌 Impact:
- Reduces time spent on research
- Provides instant access to McKinsey’s vast knowledge base
- Enhances client recommendations with data-driven insights
🔹 EY’s EYQ
EYQ is EY’s proprietary AI system designed to automate knowledge retrieval, generate reports, and streamline decision-making for both internal teams and clients.
📌 Impact:
- Speeds up financial analysis and audit processes
- Helps teams quickly interpret regulatory changes
- Enhances client advisory services with AI-powered recommendations
🔹 PwC’s ChatPwC
PwC has developed ChatPwC, an internal chatbot powered by OpenAI’s models, designed to help employees:
✅ Generate financial models
✅ Analyze risks and compliance issues
✅ Draft reports and client presentations
📌 Impact:
- Increases efficiency in reporting and analysis
- Helps consultants deliver faster, more accurate insights to clients
- Enables teams to collaborate more effectively
Key AI Adoption Strategies for Businesses
Consulting firms aren’t just using AI internally—they are advising Fortune 500 companies, startups, and governments on how to integrate AI effectively.
Best Practices for Businesses Looking to Adopt AI
✅ 1. Start with a Clear AI Strategy
- Identify key business problems AI can solve (e.g., customer service, fraud detection, automation).
- Ensure AI investments align with long-term business goals.
✅ 2. Focus on Workforce Upskilling
- AI is only as effective as the people using it.
- Companies should provide AI training and education for employees at all levels.
✅ 3. Implement Responsible AI Practices
- AI introduces ethical and security risks.
- Businesses must ensure AI systems are transparent, unbiased, and comply with regulations.
✅ 4. Leverage AI for Productivity Gains
- Automate manual and repetitive tasks to boost efficiency.
- Use AI-powered assistants to enhance decision-making and communication.
✅ 5. Continuously Monitor and Improve AI Models
- AI technology evolves rapidly—businesses should regularly update models and assess performance.
The Future of AI in Business and Consulting
AI is transforming consulting, finance, healthcare, and nearly every industry. With AI-powered chatbots, predictive analytics, and automation, businesses can:
🔹 Improve operational efficiency
🔹 Gain data-driven insights for better decision-making
🔹 Enhance customer experiences with AI-powered personalization
Consulting firms are playing a crucial role in helping companies navigate AI adoption, ensuring they use the technology ethically, securely, and effectively.
As AI continues to evolve, businesses that embrace it strategically will gain a competitive advantage, while those that resist may struggle to keep up.
For latest Business and Finance News subscribe to Globalfinserve, Click here.