Consulting in the world of AI – What Next?
The future of management consulting is being re-written. In parallel the definition of "expertise" in the Life Sciences is undergoing a seismic shift. For decades, the value of a consultant was measured by "bench strength". Often-times this could essentially be boiled down to the ability to deploy a small army of junior analysts to spend thousands of hours performing the legwork of data collection, processing, and analysis.
As we enter 2026, we are facing a groundbreaking change in paradigm. Artificial Intelligence has not just added a new gadget to the consultant’s toolbox, it has effectively automated many of the "junior analyst" roles out of existence. Today, for investors, biotech founders, and corporate pharma executives, the question is no longer who has the most extensive deck, but who has the most relevantly experienced minds and critical-thinkers at the table? And are these able to put the AI performed data gathering, analysis and conclusions into perspective and to cross fertilize form experiences and data sources outsides the direct reach of AI?
Will the "Big 5" Run Out of Business?
In a word: No. Unlike many other “voices on the Web” we take a different stance. The giants of the industry are not going anywhere in the near future, and this becomes clear, when taking a more granular view.
There are simply not enough relevant public data points to train Large Language Models (LLMs) on the highly sensitive, bespoke intricacies of a tailored post-merger integration or a complex organizational restructuring. These are "human-in-the-loop" problems by nature.
However, “the Big 5” and others will need to transform as their business model will fundamentally change. The traditional "pyramid" structure, where a few partners sit atop a mountain of young talent performing analysis and drawing charts, is set to be collapsing. AI now performs vast portions of that analysis in seconds. This creates a fascinating dilemma: if the "legwork" was the training ground for the next generation of consultants, how will they learn?
The future of consulting careers will look different. We expect "youngsters" to increasingly gain deep, first-hand knowledge within the industry itself before ever stepping into a consulting role. Once they join a firm, their training will focus on the "toolbox" as well as on their ”soft skills”. They will be monitored for the traits that AI cannot simulate such as curiosity, empathy, customer focus, plus to have a critical eye on finding possible AI hallucinations and the ability to think outside the box.
The global, strategic consulting players would not be global players if not being at the forefront of this development. There is a clear trend visible where companies such as Accenture, McKinsey, PwC, Deloitte and others no longer mostly rely on talent from their “in-house universities” but increasingly acquire and integrate expert and boutique shops boosting deep subject matter expertise, becoming more diverse in many ways and gaining themselves “outside-in perspectives”.
A New Paradigm: Consulting meets Coaching
The traditional consulting model was often characterized as analogous to a "doctor-patient" relationship, where the consultant diagnosed the problem and subsequently “prescribed” a solution. The arrival of specialised AI tools has empowered clients in the same way the knowledge that can be found in the internet empowered patients. Knowledge is now just one "prompt" away (albeit knowledge that is still prone to inaccuracies, hallucinations and is at the mercy of the quality of the prompt input).
In this world of instant information, the value of a consultant has shifted from Information to Enablement. The future of the industry is a blend of Consulting and Coaching.
· Consulting provides an outside-in view, the methodological approach, the “creative problem-solving”, and the "in silico" strategy - plus the tools, methodology and experience to implement the strategy.
Coaching is a structured, goal-oriented partnership in which a coach uses questioning, feedback, and reflection to help an individual or team unlock their own potential, improve performance, and achieve self-defined outcomes.
The blend of coaching and consulting is essential. AI can provide a map, but it cannot provide the courage to follow, nor the experience to challenge it. A consultant who is also a coach works with the client to build the internal capability and trust required to pragmatically implement e.g. a radical AI-driven strategy.
The Boutique Advantage: Core Values in an Automated Age
As the "army of analysts" becomes a relic of the past, solid consulting firms with their proven methodologies and experience in combination with boutique and domain specialist firms are emerging as the natural home for this new "Consulting + Coaching" model. Without the need to feed a massive workforce of junior staff, these boutiques focus on the core ingredients that continue to make consulting beneficial and worthwhile for their clients:
1. Nuanced Decision-Making and Domain Expertise
AI is excellent at binary logic based on the information available, but Life Sciences exist in the grey areas. Boutique specialists bring a domain expert’s intuition and experience, the ability to spot a flaw in a clinical trial design or a subtle shift in regulatory mood that an algorithm would miss.
2. Radical Curiosity and Creativity
While AI predicts and extrapolates the most likely outcome based on past data, a boutique consultant uses curiosity to explore the least likely, but most transformative, opportunities. They are the architects of the "Black Swan" strategy.
3. Empathy and Partnership
Transformation is hard. It requires a partner who understands the internal politics of a board and the fears of a founder. Boutique firms offer a level of psychological safety and long-term commitment that large, rotating teams simply cannot facilitate.
The Verdict: Seeking Wisdom, Not Just Work
The "AI era" is a return to the true essence of the profession: high-level, senior-led strategic partnership. For investors and pharma leaders, the choice is becoming clearer. If you need a massive, process-heavy overhaul, the global giants will always remain an option.
But if you need to solve a specific, high-stakes problem that requires agility, deep domain expertise, and the seasoned judgment of a trusted peer who can both consult on the "what" and coach on the "how," the boutique specialist is the strategic choice. In a world of infinite data, the human elements of curiosity, empathy, and partnership are the ultimate differentiator.