CONSULTING 4.0

Abstract

The subject of this study is the assessment of the potential for the digitization of advisory services in the consulting sector. The aim of this work is to show the current consulting process and the associated slow digitization in the consulting industry. This study aims to show where activities in a digitized/automated consulting process supported by AI-based tools can improve or even replace human interactions. The current state of digitization in management consultations was insignificant. Resources such as PowerPoint, Excel, Mail and Teams are currently the most commonly used tools for consultants, but "consulting" itself remains a manual or conventional activity. The question arises as to what causes this situation and what potential exists for a higher degree of digitization. Roboadvisors are already widely used in the virtualization of general consulting services such as asset management. However, there is a gap in consulting strategically relevant topics such as corporate management.