Consulting firms forge a unique partnership: AI working in tandem with CAs
NEW DELHI : Consulting firms have begun practising what they’ve been preaching: bet on artificial intelligence to rein in costs. For employees, though, particularly those in the junior ranks, it’s been at their cost.
Consulting firms are investing more on AI as they seek to speed up and diversify their services, gradually weaning off the practice of increasing headcount to drive business, especially for routine tasks that can be handled by emerging technology. Uniqus Consultech, for instance, is raising $10 million from its partners to support its diversification into technology consulting.
“The way we will measure our business is not necessarily based on the increase in the number of partners and directors, but how fast we are able to scale up our revenues without increasing headcount," said Jamil Khatri, co-founder and CEO of Uniqus, which offers consulting services in the areas of environment, social and governance (ESG), and financial reporting. “That’s the beauty of our model, and we want it to be tech-led and not necessarily people-led," Khatri said.
To be sure, as consulting firms embrace artificial intelligence for routine functions, several employees, especially those handling tasks that can be assigned to emerging technologies, will need to be upskilled. Uniqus, which has 25 of its 40 global partners and directors based in Gurugram, Bengaluru and Mumbai, offers a free AI assistant for financial reporting and ESG functions to its clients and to the public, and has a tech platform for ESG data management and reporting.
The consulting firm’s greenhouse gas accounting platform also uses AI, Khatri said. Global consulting firm Deloitte too is harnessing AI to drive productivity and ensure regulatory compliance.
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