The Power of AI for Consulting

Harnessing Leverage for Solo and Boutique Firms

In the competitive world of consulting, leverage is the art of maximising output from limited resources, such as time, talent, and capital. It's what allows a consulting firm to scale its impact, stay efficient, and deliver exceptional value to clients. For solo and boutique consulting firms, achieving leverage can be challenging due to constraints on staff and budget. However, artificial intelligence (AI) like ChatGPT is revolutionising the way these smaller firms operate, empowering them to punch above their weight class and give larger competitors a run for their money. In this post, we'll explore the power of AI in consulting and how it can level the playing field for the underdogs. Below are some AI use-cases that have been road tested with clients. We think the results are as good, if not better, than results for similar work churned out of large firms (yes, we have experience working there) by junior consultants. So, buckle up, and let's dive into the world of AI-powered leverage!

Benefits of AI for Solo and Boutique Consulting Firms

Using AI for proposal generation

Gone are the days of laborious proposal writing, fueled by endless cups of coffee and late-night deadlines. With AI, you can now delegate this task to your virtual sidekick and focus on what truly matters—building relationships with clients. By feeding AI a proposal template that outlines the various sections, and adding your notes from a client meeting, the AI can generate a comprehensive proposal that's tailored to your client's needs. It's like having an eager intern who never sleeps and has an uncanny ability to turn your ramblings into a persuasive pitch. Say goodbye to writer's block and hello to a newfound efficiency!

Generating personas with AI

Personas are the bread and butter of user-centered consulting, but crafting realistic and engaging personas can be time-consuming. With AI, you can now create detailed personas faster than you can say "pain points." Just provide the AI with the context and user type you're interested in (e.g., "a young female who wants to use product 'x' for purpose 'y' but lacks experience and expertise"), and watch it generate insightful pain points, needs, and drivers of behavior. It's like having a team of empathetic researchers at your fingertips, ready to dig deep into the minds of your target audience. Talk about a superpower!

Summarising ideas and text in different formats

When it comes to translating ideas into well-structured formats, AI shines like a star in the consulting universe. With clearly articulated starting ideas and standard formats, AI can quickly repurpose and translate content into various forms. Imagine transforming a strategy into a theory of change, then into a program logic, and finally, into an action plan—all in record time! No more late nights wrestling with complex documents; just let your AI companion do the heavy lifting while you sip your favourite beverage and bask in your strategic brilliance.

Limitations of AI in Consulting

But wait—before you go all-in on AI, remember that it's not a silver bullet for every consulting task. As fantastic as AI can be, it has limitations. For tasks that require factual certainty, such as research, market research, and literature reviews, relying on AI might leave you with misleading information and an embarrassing red face. So, keep your human expertise in the loop, and don't let AI do all the thinking. After all, you're the consultant, and AI is just the high-tech cherry on top.

A basic rule of thumb is that AI like ChatGPT is good for generating words, it still pales in comparison to people when you are looking at generating ideas. Insights still come from deep engagement between clients and consultants, doing co-design with consulting know-how and client domain expertise

Practitioner Insight

AI is a game-changer for solo and boutique consulting firms, offering leverage that helps level the playing field with larger competitors. By harnessing the power of AI for tasks like proposal generation, persona creation, and summarising ideas, you can unlock new efficiencies and make your consulting practice shine. Just remember to balance the advantages and limitations of AI, and never underestimate the value of your human expertise. After all, AI may be your trusty sidekick, but you, my friend, are the true superhero of the consulting world. So, go forth and conquer with AI by your side, as you navigate the exhilarating and ever-evolving landscape of consulting.