Two sets of firms have traditionally dominated the consulting sector:
- MBB: McKinsey & Company, Bain & Company, and Boston Consulting Group
- Big Four: PwC, Deloitte, KPMG, and Ernst & Young.
However, a new generation of AI-powered startups is beginning to shake things up by making consulting services more accessible to a wider audience. Many of the founders of these innovative firms come from conventional consulting backgrounds, leveraging their expertise to identify fresh opportunities within the industry.
These boutique firms tend to be smaller, often ranging from just a handful to a few hundred employees. They usually focus on specific areas such as pricing strategy, cost-efficiency, or improving presentation materials. A key feature of these firms is their commitment to utilizing AI, which helps streamline operations, reduce bureaucracy, and offer competitive pricing, ultimately making the consulting experience more efficient and user-friendly.
Xavier AI is recognized as the world’s first AI strategy consultant. Co-founder Joao Filipe, a former McKinsey consultant, emphasizes that the Xavier AI chatbot provides actionable business insights, such as comprehensive business plans and marketing strategies. Launched in April, Xavier AI has seen rapid growth, doubling revenue month-over-month.
Consulting IQ emerged during the pandemic to support small and mid-sized businesses. Founder Diego Medone noticed the high failure rates among these companies and conducted extensive research to understand their daily challenges. The platform, which officially launched in 2024, uses AI to provide tailored consulting insights, drawing from a vast library of prompts on various business topics. It’s designed specifically for smaller firms, with a subscription model starting at just $9 per month.
Perceptis focuses on enhancing business development for consulting firms. Founded by a former McKinsey consultant and an ex-Apple engineer, the firm’s AI-powered operating system streamlines tasks such as industry research and proposal creation. Perceptis has seen increased demand from diverse sectors, including IT services and finance.
Genpact, a well-established service provider, has recently intensified its efforts to lead in AI strategy. With initiatives like “Client Zero,” the company aims to test and refine AI solutions internally before introducing them to clients, such as innovative AI-driven tools to optimize business processes and cut costs.
SIB helps organizations like hospitals and government agencies minimize fixed costs using AI-driven insights. Founded in 2008, SIB operates on a contingency basis, meaning they only charge clients if they identify savings. Their innovative approach has resulted in over $8 billion in identified savings since inception.
Monevate, launched by former consultants from top firms, specializes in pricing strategy for tech companies. The firm aims to fill gaps left by traditional consulting, offering targeted pricing strategies that reflect the unique challenges and evolution faced by clients.
Keystone provides strategic consulting primarily for technology and life sciences companies. With a team comprised of data scientists and AI experts, Keystone focuses on operational AI to improve critical business functions.
Fusion Collective offers comprehensive IT consulting, emphasizing real-world readiness for AI strategies. Its founders advocate for a pragmatic approach, urging clients to establish a robust infrastructure before pursuing extensive AI integration.
Slideworks creates high-end presentation templates designed by former top-tier consultants, catering to a need for effective communication within any consulting project.
These emerging firms signify a shift in the consulting landscape, making specialized and affordable consulting services accessible to businesses of all sizes while leveraging advanced AI technologies.