Responses to two Golden Questions that clients and management consultants should ask themselves and each other. How does generative AI compare?
In one of our recent surveys of members of the CMCE community we asked for opinions on the Golden Questions that clients and management consultants should ask themselves and each other.
As a follow up, I decided to look in more detail at two key questions and the responses that I received are included below.
The first question was:
How should buyers of management consulting services ensure that their consultants provide high quality services and deliver value for money?
The responses were:
There are several ways buyers of management consulting services can ensure they receive high quality services and value for money:
- Clearly define the scope of the project and desired outcomes: this helps ensure that the consultant understands the specific needs of the organization and can provide tailored solutions.
- Look for relevant industry experience and expertise: consultants with experience and knowledge in the buyer's industry or area of need are more likely to provide relevant and effective solutions.
- Check for professional certifications and accreditations: consultants who have earned professional certifications or accreditations from reputable organizations demonstrate a commitment to their profession and a level of expertise.
- Seek references and case studies: consultants should be able to provide references and case studies of similar projects they have completed successfully.
- Set clear performance metrics: clearly defined and measurable performance metrics can help ensure that the consultant is delivering value and meeting the buyer's needs.
- Communicate regularly with the consultant: regular communication with the consultant can help ensure that the project stays on track and that any issues are addressed in a timely manner.
- Review the results and performance of the consultant: after the project is completed, it is important to review the results and the performance of the consultant to ensure that the project met the desired outcomes.
The second question was:
What are the existing and emerging technologies that management consultants should use to improve the quality of the services that they provide?
The responses were:
There are a number of existing and emerging technologies that management consultants can use to improve the quality of the services they provide. Some of these include:
- Artificial Intelligence (AI) and Machine Learning (ML): AI and ML can be used to analyse large sets of data and identify patterns, trends, and insights that can help organizations make better decisions.
- Big Data and Business Intelligence (BI) tools: big data and BI tools can be used to collect, store, and analyse large amounts of data, and can help consultants identify key performance indicators (KPIs) and provide insights that can drive business growth.
- Cloud Computing: cloud-based platforms and services can be used to store and analyse data, and can be accessed remotely, allowing for more efficient collaboration and communication between consultants and clients.
- Robotic Process Automation (RPA): RPA can be used to automate repetitive and time-consuming tasks, freeing up consultants to focus on more strategic work.
- Virtual and Augmented Reality: Virtual and Augmented Reality can be used to create immersive simulations, allowing consultants to provide training and simulations that are more engaging and effective.
- Blockchain: blockchain technology can be used to provide secure and transparent tracking of transactions, and can be applied in a number of industries, including finance, supply chain, and logistics.
- Internet of Things (IoT): IoT technologies can be used to collect and analyse data from connected devices, allowing consultants to provide insights and recommendations that can improve operations and efficiency.
These are some examples of technology, but it's important to note that the most important thing is to understand the client needs and the problem at hand, and then decide which technology can be more suitable.
And now a confession. The responses that I received were not from members of the CMCE community but from the ChatGPT chatbot launched by OpenAI in November 2022. All I did was type in the questions and ChatGPT provided them less than a minute later.
Which leads us to a third Golden Question:
Based on these responses, how long before clients will not need management consultants?
Jim Foster, Associate Director, CMCE
Tuesday 25th July 2023