The AI revolution is here, and big companies are throwing money at it—whether they understand it or not. Accenture just reported $1.2 billion in new bookings related to Gen AI, with 69,000 employees working in data and AI. Boston Consulting Group (BCG) now makes 20% of its revenue from AI-related work, McKinsey predicts 40% of its business will be AI-driven, and IBM has already crossed $1 billion in AI sales.
At first glance, this might sound like progress. But here’s the real issue:
🔹 Are these consulting firms actually experts in AI, or are they just selling high-priced reports with buzzwords?
🔹 Are Fortune 500 companies truly implementing AI, or are they just checking a box to satisfy investors?
🔹 Are businesses actually benefiting, or is this just another expensive corporate trend?
The Blind Leading the Blind
Most CEOs don’t understand AI. Their boards don’t understand AI. But they’ve all been told AI is the future, so they rush to hire “top consulting firms”—often staffed with people who also don’t understand AI at a deep level.
The result?
• Vague strategies that don’t translate into real AI adoption.
• Overpriced consulting fees for generic recommendations.
• Companies claiming AI innovation when they’re just rebranding existing tech.
The biggest winners in AI right now aren’t AI companies—they’re AI consultants.
What’s the Real Danger?
When businesses put their AI strategy in the hands of firms that lack real expertise, they risk wasting millions on solutions that don’t work. Worse, they miss out on actual AI-driven transformation that could make a real impact.
Instead of blindly trusting a consulting firm’s name, companies should:
✔️ Hire real AI experts who have built and deployed AI models.
✔️ Focus on practical applications instead of abstract AI visions.
✔️ Look beyond traditional consulting firms to specialized AI firms and startups with proven success.
The Takeaway
Big-name consulting firms have mastered the art of selling AI as a gold rush. But just because they have an AI division doesn’t mean they have the expertise to lead real transformation.
Companies that truly want to benefit from AI need to vet their consultants carefully—because throwing money at AI without understanding it is just a very expensive mistake waiting to happen.