Today is International Management Consultancy Day. As FEACO we represent the interests of the industry in Europe and pursue the realisation of common goals. We act as a collective voice to promote and develop management consultancy in Europe. The central role that management consultants play in innovation, transformation and sustainable growth in the economy should be emphasised, especially with a view to the future. The opportunities and challenges presented by artificial intelligence (AI) are a particular focus - both for consultants and for companies.
Harl: „Europe must take the lead”
“Europe must take the lead in artificial intelligence, innovation, education and the environment”, says FEACO President Alfred Harl. „Management consultancy is in a transformation process. AI-supported tools are opening up new dimensions of analysis, strategy development and decision-making. Our experts support companies in using AI sensibly and responsibly.“
And there is a lot of work to do in Europe. After a record growth of +16.1% in 2022, the Management Consulting industry in Europe is growing slower: +10.2% in 2023 and an expected +6.6% in 2024. Such a softening of the market dynamics is shared among almost all countries in the EU feaco panel, highlighting that the fast post pandemic phase might have ended and that a new one started.
“The need for professional support in the field of AI is growing rapidly”
The challenge of the digital transformation and the green transition, together with the uncertainties in the international scenario, are fostering companies’ requests for consulting support especially in the areas of Sales & Marketing and Technology. The public interventions across Europe to support the post-pandemic recovery have brought in several countries to the launch of many new projects from the Public Administrations, and, consequently, a growing request for consulting support.
Last but not least, the uncertainties in the present international crisis, the ongoing political and economic changes across Europe and the growing impact of Generative AI, are making future outlooks, at the same time more difficult and more important. “The need for professional support in the field of AI is growing rapidly. As a professional association, we are therefore focusing on targeted training and certification to ensure that our consultants remain pioneers in the digital transformation”, concludes Harl.
