AI in strategy consulting

Why AI in strategy consulting

The use of artificial intelligence is also having an increasing impact on strategy consulting. AI is not only creating new business areas for strategy consulting, but is also changing the way consultants work. According to the Federal Association of German Management Consultants, 83 percent of consultants see more opportunities than risks in the use of artificial intelligence. They see the greatest advantages in saving time (76%) and increasing productivity (56%).

Use of AI in strategy consulting

In order for strategy consultancies to take advantage of these benefits, they need the right tools. While large consultancies like McKinsey have the budget to develop their own solutions, smaller strategy consultancies lack the time and knowledge to develop appropriate solutions themselves. This article therefore shows which AI tools are already available to strategy consultancies so that they don't lose touch (with the large strategy consultancies).

What is important when using AI in strategy consulting?

• Reliability and quality of data: According to the Federal Association of German Management Consultants, consultants see reliability (66%) and distortion (50%) of information as the greatest risk

• Availability of daily updated data: Especially for complex use cases or niche industries, it is important that the AI tools can deliver the data on a daily basis.

• Flexibility of the tool: The tool should integrate into the consultants’ workflows and not the other way around.

• Complexity of questions: While most AI tools can answer simple questions, they fail at answering more complex questions.

In which areas of strategy consulting can AI be used

Strategy consultancies can take advantage of AI for research, project management or data analysis. Below is an excerpt of tools and use cases.

research

Consultancies can use AI tools like Researchly to automatically create market analyses, trend analyses or competitive analyses. Such tools offer up-to-date data - even for niche industries -, map the consultant's own research process and support complex questions through AI agents. By automating research with AI, strategy consultancies can then focus on solving problems, coaching and supporting their customers. Try it yourself with Researchly's 7-day free trial .

Interview analysis

In consulting, AI can be used to evaluate customer satisfaction surveys, leadership interviews or focus group discussions. Tools such as inari or theydo automatically create journey maps or insights from customer feedback.

Project management

AI tools like Dart promise time savings of seven hours per week with the automatic creation of subtasks, AI-supported project planning or the detection of duplicate tasks.

Financial analysis

To analyze financial data, consultancies can leverage AI functionality in existing tools like Microsoft's Co-Pilot or Gemini in Google Workspace. There are also native AI startups like Brewit that allow analysts to use natural language to analyze data.

Creation of presentation

Similar to financial analysis, consultancies can use AI functionality in existing tools such as PowerPoint. There are also add-ons for Google Slides or PowerPoint such as Plus Docs .

AI tools: A competitive advantage for strategy consultancies of all sizes

A look at the AI landscape shows that strategy consultancies already have a variety of tools that they can use to save time and increase productivity. By using the right tools, smaller strategy consultancies can keep up with big firms like McKinsey.