AI is driving McKinsey’s business model and talent overhaul

cityam

May 15

AI is rapidly reshaping the consulting sector and it's business model McKinsey & Company’s business model is changing to prioritise performance-based pay, a shift largely driven by the impact of AI, ...

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overhaul","media":"cityam","content":"<div>\n<p>AI is rapidly reshaping the consulting sector and it's business model  McKinsey & Company’s business model is changing to prioritise performance-based pay, a shift largely driven by the impact of AI, ...</p>\n\n<a href=\"https://www.cityam.com/ai-is-driving-mckinseys-business-model-and-talent-overhaul/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AI is driving McKinsey’s business model and talent overhaul</title>\n<style 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impact of AI, ...</p>\n\n<a href=\"https://www.cityam.com/ai-is-driving-mckinseys-business-model-and-talent-overhaul/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARTY","symbol_name":"ISHARES FUTURE AI & TECH ETF","start_time":0,"source_url":"https://www.cityam.com/ai-is-driving-mckinseys-business-model-and-talent-overhaul/","article_id":"2635403346","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2024/05/City-of-London-Skyline-e1716884726136.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/ai-is-driving-mckinseys-business-model-and-talent-overhaul/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2635403346","pubTimestamp":1778855653,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"AI is rapidly reshaping the consulting sector and it's business model  McKinsey & Company’s business model is changing to prioritise performance-based pay, a shift largely driven by the impact of AI, City AM understands.The Big Three consulting giant has told senior staff their remuneration will make up a greater share of their equity, and is reshaping the transitional business model to push rewarding performance with cash.The firm sits alongside Bain & Company and Boston Consulting Group  as the three most prestigious and highest earning management consultancy firms in the world.McKinsey advises a wide portfolio of FTSE 100 companies, major private equity firms, and public sector organisations in the City, and works with the UK government, the financial services sector, and the oil and gas industry amongst other public and private sector clients.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARTY":"ISHARES FUTURE AI & TECH ETF","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","AGIX":"通用人工智能 ETF-AGIX","BCG":"Binah Capital Group Inc","BK4135":"资产管理与托管银行","AIPO":"Defiance AI and Power Infrastructure ETF"},"translate_title":"人工智能正在推动麦肯锡的商业模式和人才改革","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AIPO":1.5,"ARTY":1.5,"AGIX":1.5,"CHAT":1.5,"BCG":1},"content_text":"AI is rapidly reshaping the consulting sector and it's business model  McKinsey & Company’s business model is changing to prioritise performance-based pay, a shift largely driven by the impact of AI, City AM understands. The Big Three consulting giant has told senior staff their remuneration will make up a greater share of their equity, and is reshaping the transitional business model to push rewarding performance with cash. The firm sits alongside Bain & Company and Boston Consulting Group (BCG) as the three most prestigious and highest earning management consultancy firms in the world.McKinsey advises a wide portfolio of FTSE 100 companies, major private equity firms, and public sector organisations in the City, and works with the UK government, the financial services sector, and the oil and gas industry amongst other public and private sector clients. \n\nAI is steering the overhaul as the technology continues to profoundly reshape the consulting sector – from business models to methods of billing clients – with increasing automation of of research and data analytics tasks.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n“If AI allows projects to be completed quicker, then clients are going to want to pay less than when that project was completed by human hours and the fee was based on the hourly charge out rate,” recruitment specialist at McKellar Consulting, Craig McKellar, told City AM. “That will mean staff costs as an overhead will have to come down as well,” McKellar said. McKellar said the McKinsey remuneration overhaul has been a few years in the making and reflects that “more clients want to pay their advisors in line with outcomes rather than billable hours”.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}