This Week in Consulting
Friday, March 2nd, 2018
AI in Your Industry – What the Future is Really Like
Starting from this week’s newsletter, we will dedicate each issue to a unique theme. The goal is to create a platform where people can freely exchange ideas and information on all issues pertaining to the consulting industry. You will find the scheduled themes for the coming months and submission method under the “Trend” section of this newsletter.
THIS WEEK’S MUST READ
“AI has implications for management and organizational practices. While there are already multiple models for organizing for AI, organizational flexibility is a centerpiece of all of them.”
The chosen topic for this week is “AI in Your Industry – What the Future is Really Like”, where we want to explore the effect of artificial intelligence(AI) on various industries. It is clear that disruption from AI has arrived, yet many company leaders still aren’t sure what to expect from AI or how it fits into their business model. This Week’s Must Read features an insight piece from the MIT Sloan Management Review, where the editors and consultants from BCG provide baseline information on the strategies used by companies leading in AI, the prospects for its growth, and the steps executives need to take to develop a strategy for their business. Read the full article “Reshaping Business with Artificial Intelligence：Closing the Gap Between Ambition and Action”, written by Sam Ransbotham, David Kiron, Philipp Gerbert and Martin Reeves from MIT Sloan Management Review and the Boston Consulting Group.
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THIS WEEK’S VIDEO:
Daniel Dewey discusses his research on paths and timelines to machine superintelligence, the possibility of intelligence explosion, and the strategic and technical challenges arising from these possibilities.
INDUSTRY NEWS & INSIGHTS
- P2 Consulting and Brexit Partners Join Forces to Help Firms with EU Departure: P2 Consulting, a leading project and change management consultancy and Brexit Partners, a specialist Brexit strategy advisory firm that guides governments, industries and corporates through the transition process as the UK exits the EU, have announced a partnership. The focus of the partnership is to help organisations understand and respond to the challenges and opportunities of a hard Brexit. | P2 Consulting Press Releases
- SoftBank Robotics Europe Selects Cognizant for Quality Assurance of Artificial Intelligence Systems in Pepper and NAO Humanoid Robots: Cognizant today announced it has been selected by SoftBank Robotics Europe, a leader in humanoid robotics, to provide Quality Engineering and Assurance (QE&A) services for the artificial intelligence (AI) systems in the popular Pepper and NAO robots. | PR Newswire
- Equiteq Advises IT Services Firm Axentel Technologies on its Sale to Park Place Technologies:Equiteq announced that it has advised Axentel Technologies, a leading IT firm specializing in high-level maintenance services in Asia, on its sale to Park Place Technologies, the world’s largest pure-play post-warranty data centre maintenance organization. | Equiteq Press Release
- Australian Government Underestimated Consulting Spend by Billions: Official probes into the consulting spend of Australia’s Federal Government have revealed a number of systemic failures in the Federal Government’s attempts to track its contracting spend. Government departments previously classified Big Four firms EY and PwC as ‘SMEs’, while the Department for Finance could not deliver a clear definition of consulting work to the probe. | Consultancy uk
Attention – TWIC Readers!
To better serve the demands of our audience and to facilitate insights exchange, we decided to reinvent the format of this newsletter and dedicate each future issue to a unique topic. This will be a great opportunity to showcase your thought leadership and exchange information and ideas. Below you will find our planned themes for the coming months, please take a look and direct any articles you wish be featured to firstname.lastname@example.org
- Artificial Intelligence: Healthcare’s New Nervous System: Growth opportunities are hard to come by without significant investment, but artificial intelligence (AI) is a self-running engine for growth in healthcare. According to Accenture analysis, when combined, key clinical health AI applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026. | Matthew Collier, Richard Fu, Lucy Yin, Accenture
- Managing Next Generation Artificial Intelligence In Banking: A New Paradigm for Model Management: Institutions planning to invest in and implement advanced AI capabilities need to start adjusting their model management framework, and address the concerns of the three groups of stakeholders. | Jeffrey Brown, Tammi Ling, Ege Gurdeniz, Oliver Wyman
- What Supply Chain Consultants are Advising about Artificial Intelligence, Blockchain, and Robotics: The opportunity to leverage technology advancements like Artificial Intelligence and Blockchain throughout the supply chain is enormous, and operations executives need to get started. Here is how you can do it. | Sebastian Valencia, Clarkston Consulting
- The Hottest Applications in AI: AI and its application is no longer a far-fetched future, but more and more an everyday reality. All kinds of technologies will adopt AI components and procedures and various industries will experience its tremendous impact. Greater efficiency in all types of sectors, unbridled creativity, reduced human error, much higher productivity are some of the key contributions AI will inevitably deliver. | Consulting Quest
Consulting Quest will be hosting a free Webniar for industry leaders in the coming month exploring best practices in Consulting Procurement. If you are interested in participating, please fill out this survey. Check Out Other Upcoming Events and Workshops and Become a Part of the Consulting Quest Community!
- What is the Future of Consulting?: The consulting industry has seen a switch from dedicated teams of people to freelance workers and virtual teams. See what industry experts have to say on the changes the consulting industry will go through in the years to come. | Nick, Hastreiter, Future of Everything
- 4 Changes an Elite Management Consultant Would Tell You to Make to Maximize Your Productivity: Management consulting is a stressful business. As a result, elite consultants have developed a number of ways to maximize their time. | John Boitnott, Entrepreneur
- 3 Reasons to Study Change Management in B-School: Experts say MBA students who study change management can apply that knowledge in multiple industries, including management consulting and private equity Check out this article to find out why. | Ilana Kowarski, U.S. News
- 9 Consultant Skills They Don’t Teach You In Business School: Ways to deflect the divas, how to translate the “blah blah blah”–you won’t find any of these tips in a college textbook. | Nathalie Kleinschmit, Fast Company
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.