Latest news with #consulting
Arabian Business
15 hours ago
- Business
- Arabian Business
FTI Consulting expands to Riyadh with new office in King Abdullah Financial District
FTI Consulting, a global advisory firm for corporate services, announced the opening of a new office in the heart of the King Abdullah Financial District (KAFD) in Riyadh . The move to a new, larger office underscores the firm's long-term commitment to Saudi Arabia and plans to build on its existing capabilities in the region to further support a growing client base, the company said. FTI Consulting has operated in Saudi Arabia for more than a decade and obtained a Regional Headquarters Licence in February 2024. The firm provides a range of business advisory services to domestic and international corporations in both the public and private sectors. 'Establishing a presence in King Abdullah Financial District represents a major strategic milestone for FTI Consulting in the region,' said Antoine Nasr, a Senior Managing Director and Head of FTI Consulting in the Middle East. 'Saudi Arabia is undergoing a remarkable economic transformation, and our clients increasingly seek on-the-ground expertise to navigate this evolving landscape,' he said. Commenting on FTI Consulting's move, Sultan Alobaida, Chief Commercial Officer of King Abdullah Financial District Development and Management Company (KAFD DMC), said the move comes at a time when the global management consulting market is experiencing significant expansion. 'This global trend is mirrored in Saudi Arabia, where the need for consultancy services is rising as the Kingdom continues its economic transformation,' he said. Alobaida said that with Saudi Arabia's private sector now contributing 47 per cent to GDP, surpassing the 2024 target, the need for business, management and strategy consulting services is growing steadily.
Gulf Business
18 hours ago
- Business
- Gulf Business
Kearney's Mauricio Zuazua decodes the AI-driven C-suite
Image: Supplied In an exclusive interview, Mauricio Zuazua, region chair at global consulting firm As AI becomes more agentic, how do you see it reshaping executive roles – will it augment CxOs or redefine leadership entirely? The primary impact will be in augmenting CXOs rather than entirely redefining leadership. AI and agentic tools provide executives powerful new capabilities for decision-making and relieve them and their teams from time-consuming activities. This spells faster and deeper insights into their business at their fingertips, which in turn means quicker, better choices. It also means more time for them to focus on strategic thinking, innovation, and fostering a culture of agility and resilience within their organisations. However, the demands on leadership are growing. Executives need to develop a deeper understanding of AI technologies and their implications – not only let their teams get educated. They also need to lead with empathy and adaptability, guiding their teams through the complexities of AI integration. The role of CXOs is shifting from being a sole decision-maker to a facilitator of AI-driven insights, actions, and collaborative essence, AI will enhance the capabilities of CxOs, making them more effective leaders, while requiring adaptation to new ways of thinking and leading. Which areas within the C-suite are seeing the fastest AI adoption, and how is automation transforming decision-making in those functions? Adoption at scale is indeed the largest hurdle right now. However, we see highest levels of adoption in transactional or creative areas of the business. This includes HR, Finance, Supply Chain, Marketing, and IT. In HR AI is being used for CV screening, policy and contract development. In finance, AI is automating financial processes, improving accuracy and efficiency in planning and forecasting. In supply chain, AI is helping build more resilient and adaptable supply chains. In marketing, it is accelerating creative and copy development, optimising sales strategies, and tailoring customer engagement to increase effectiveness. In IT, AI is improving system performance and cybersecurity. What are the critical enablers for building an AI-ready organisation from the ground up, especially in terms of structure, skills, and leadership mindset? Building true AI capability means conditioning a new organisational muscle, and that muscle needs to grow to resolve problems in three areas: Business, People, and Technology. The business problems are around aligning the organisation's reason for being and what it wants to achieve with AI. Without these two connected, you have no hope of ROI. The people challenge is perhaps the toughest one, because it is not only about skills, it is about a different culture, one that allows multi-disciplinary teams that used to never work together, to have to work completely blended together. New trust needs to be built, and that is not automatic, nor does it follow a top-down directive. Lack of trust and a viable culture will kill the best models out there. The final problem area is around technology: unified, trustworthy data across your business and legacy infrastructure. Without addressing this, your pilots will go great, but scaling will not succeed. Further, there are three things I've witnessed that are game-changing for organisations trying to build this muscle: CXO Education. The CXO level has to get educated on possibilities and pitfalls, on top of the rest of the organisation getting educated. Experimentation. The organisation must become comfortable dealing with experimentation: Go back to the scientific method of testing what works. Change the chip from why it doesn't work 'here' to what does it take for it to work. Incentives. Organisations have to be intentional on incentives and space for people to work with these new capabilities. This cannot be an afterthought in any AI transformation. How should businesses approach human-AI collaboration to maximise productivity without losing human judgment and oversight? Awareness, education, and keeping a human-in-command loop. Codify the red lines where people must sign off — strategy pivots, brand voice, ethical calls. Pair employees with AI assistance so human and machine critique each other's output in real time; in our client pilots, those that empowered their teams with AI assistance delivered 25 per cent more throughput than either the humans alone, or attempting full automation, precisely because accountability is shared and rewarded. What barriers to AI adoption are most common in the Middle East, and how are regional dynamics–like national visions and digital infrastructure – shaping the pace of transformation? The Gulf isn't catching up; it's leaping forward. National visions pledge big numbers – UAE wants AI at 20 per cent of GDP by 2031, and Saudi Arabia has earmarked $20bn for AI by 2030, for example., cloud zones, regulatory sandboxes, and Arabic LLMs are real advantages. Yet four frictions persist: Talent is still scarce Data is fragmented, often across sovereign clouds Not enough entities scale solutions post-proof-of-concept Venture liquidity for post-Series B AI firms remains thin Solve talent, data, scaling, and capital, and the region could become the world's applied-AI testbed. Can you share a recent example where Kearney helped drive AI-led business transformation, and what lessons other organisations can draw from it? A global insurer's source-to-contract process was eating legal budgets and time. In 18 weeks, we united business, legal, data, and IT, deployed an AI contract-engine, and rolled it out to thousands of users — saving hundreds of hours of manual work and a quarter of legal fees, while hitting full ESG-compliance. The lesson? Start with the hairy problem, weld cross-functional teams early, and scale once value is proven — not before. From a leadership lens, what does it take to create a culture that embraces AI while balancing ethical considerations, particularly in high-stakes industries? Bake ethics into code — then keep the humans honest. Every model needs a red team for bias and safety, every release ships with a public model card. Regulators come in early, not after the fact, and bonuses hinge on responsible Users who pocket the productivity gains must also carry the duty of mandate a human-in-the-loop pledge that says: • Own the decision. The system proposes, the user disposes — no rubber-stamping. • Flag the drift. If outputs look off, hit pause and trigger a review; your vigilance trains the next model. • Close the loop. Feedback outcomes so the algorithm learns — and so we measure real impact, not vanity shifts fastest when accountability is shared and rewarded—financially, reputationally, personally. What future leadership traits do you believe will define the next generation of C-suite executives in an AI-enabled world? Successful leaders will blend algorithmic literacy with radical empathy. They will run 10 scenarios in parallel, pivot without ego when needed, and still read the room better than any sentiment model. They will be relentless experimenters, because it will be table stakes to try new, untried things. They will break more glass earlier, taking more measured risks with a willingness to break things that work today, looking to make them work even better. Most of all, they will be incredible storytellers — turning data into a narrative that moves boards, regulators, and frontline teams alike.
National Post
2 days ago
- Business
- National Post
Andersen Consulting Adds Stratence Partners
Article content SAN FRANCISCO — Andersen Consulting expands its platform through a Collaboration Agreement with Stratence Partners, a United Kingdom-based consulting firm assisting global companies to improve market share and drive profitability through pricing excellence, strategy optimization, commercial effectiveness and digital transformation. Article content Article content With a results-driven approach and a commitment to sustainable change, Stratence Partners empowers clients through a unique blend of consulting, interim management, and training services, accompanied by proprietary methodologies and data management, data science (AI), tools and systems solutions. Article content 'Collaborating with Andersen Consulting is an exciting step for our firm,' said Fernando Ventureira, managing director of Stratence Partners. 'In our work with C-Suite clients around the globe, we recognize their needs extend beyond strategic pricing and operational excellence. Our clients value one-stop solutions of the highest quality and Andersen's strong reputation and integrated global platform, make them an ideal ally. Together, we are well-positioned to help organizations not just adapt to change, but lead it—delivering strategic clarity, operational excellence, and profitable growth.' Article content Global Chairman and CEO of Andersen Mark L. Vorsatz added, 'Stratence's industry expertise and innovative frameworks are a strong complement to our existing capabilities not only in consulting but also tax, legal and valuation. In addition to being a great cultural fit, the capabilities of Fernando and his team strengthens our seamless, multidimensional service model.' Article content Andersen Consulting is a global consulting practice providing a comprehensive suite of services spanning corporate strategy, business, technology, and AI transformation, as well as human capital solutions. Andersen Consulting integrates with the multidimensional service model of Andersen Global, delivering world-class consulting, tax, legal, valuation, global mobility, and advisory expertise on a global platform with more than 20,000 professionals worldwide and a presence in over 500 locations through its member firms and collaborating firms. Andersen Consulting Holdings LP is a limited partnership and provides consulting solutions through its member and collaborating firms around the world. Article content Article content Article content Article content Article content Article content
Globe and Mail
2 days ago
- Business
- Globe and Mail
Palantir Stock in Focus as It Partners With Bain & Company to Accelerate Enterprise AI Adoption
Palantir Technologies (PLTR) and Bain & Company, a management consulting company, have announced a global partnership aimed at helping companies adopt artificial intelligence more quickly and effectively. The collaboration combines Bain's strategic business expertise with Palantir's advanced AI Operating Systems to support clients in deploying AI at scale across various industries. According to the announcement, this partnership is designed to deliver a measurable business impact within weeks, rather than months or years. Confident Investing Starts Here: How the Two Firms Will Collaborate Palantir's Artificial Intelligence Platform (AIP) is at the center of the joint effort. The platform connects AI models directly to enterprise data, operations, and decision-making processes. It allows businesses to integrate real-time data, automate workflows, and validate AI-generated recommendations with human oversight. By integrating AI into its daily operations, the platform aims to enhance efficiency and unlock new opportunities for growth. Bain's role is to guide organizations through the strategic and operational changes necessary to realize these benefits fully. Bain's AI, Insights, and Solutions team includes more than 1,500 experts in AI, analytics, data architecture, and engineering. This team works closely with Bain's broader consulting practices to ensure that AI tools are not only implemented but also aligned with each client's business objectives. The team's services range from machine learning application development to analytics strategy and organizational design. The partnership is expected to benefit companies across a wide range of sectors, including retail, healthcare, financial services, and industrials. Bain's industry-specific knowledge will help tailor Palantir's technology to the needs of each client, from optimizing supply chains to improving customer experience. Palantir Continues Its Private Sector Journey For Palantir, the partnership enhances its reach into the enterprise market by leveraging its technology in conjunction with Bain's long-standing client relationships. Investors may view this as a positive development as it could accelerate the company's revenue growth and broaden its commercial footprint beyond government contracts. Shares of Palantir have been closely watched as the company continues to expand its presence in the private sector. While the success of the partnership will depend on execution and client adoption, the combination of advanced technology and strategic consulting could position both firms to play a larger role in the growing AI market. As businesses seek practical ways to integrate AI into their operations, partnerships like this may become more common. Investors will be watching to see if this collaboration translates into meaningful financial results. Is Palantir Stock a Buy or Sell? Palantir continues to divide Wall Street analysts. The company sports a Hold rating, with an average PLTR stock price target of $100. This implies an 18.80% downside. See more PLTR analyst ratings
Irish Times
2 days ago
- Business
- Irish Times
McKinsey sheds 10% of staff in 2-year profitability drive
McKinsey has cut more than 10 per cent of its staff in the past 18 months, reversing a big expansion plan that peaked during the coronavirus pandemic when consulting services were in high demand and the firm increased its workforce by almost two-thirds. The consulting firm has about 40,000 employees, according to people familiar with the matter, compared with more than 45,000 at the end of 2023, when it most recently published a figure. The job cuts, which are among the largest in McKinsey's nearly 100-year history, reflect the sharp slowdown in revenue growth across the consulting market. The group has also been hit with $1.6 billion in legal settlements from its work for US opioid manufacturers. As well as laying off 1,400 back-office staff in a restructuring that began in 2023, McKinsey last year dismissed 400 specialists in areas such as data and software engineering. It also increased pressure on its weakest-performing consultants to quit via an unusually tough mid-year performance review programme last year, according to people familiar with the matter. READ MORE McKinsey's headcount had grown by almost two-thirds in the five years to 2023 as it expanded beyond its core advisory services into larger-scale project implementation and business boomed for all consulting firms during the pandemic. Since the consultancy boom ended, the number of staff voluntarily leaving professional service groups has swung to record lows. The reduced level of attrition has caught many groups by surprise, following the 'Great Resignation' when a roaring jobs market and the effects of the pandemic led to workers quitting in favour of more rewarding or better-paid roles elsewhere. Bob Sternfels, McKinsey global managing partner, told colleagues last year that the firm intended to be 'back in balance' by the end of 2024. McKinsey's shrinking headcount contrasts with its smaller rival BCG, which last month reported a 10 per cent increase in global revenue to $13.5 billion for 2024 and said its workforce had grown by about 1,000 people to 33,000. Its headcount stood at 30,000 two years ago. McKinsey's workforce was '45,000 plus' at the end of 2022 and 45,100 at the end of 2023, according to its annual reports. The report for 2024, published this month, did not include staff numbers. The report also did not include a figure for 2024 revenue, unlike in previous years. McKinsey's revenue was $16 billion in 2023. McKinsey said: 'Our firm continues to grow and we're doing more impactful work, in more ways, than ever. We continue to recruit robustly and will welcome thousands of new consultants to our firm this year.' As well as slower revenue growth, the consulting industry is contending with the introduction of generative artificial intelligence, which is set to automate tasks performed by junior employees while increasing the productivity of others. Janet Truncale, global chief executive of EY, said at the Milken Institute annual conference this month that her firm would not cut jobs in response to AI but could do more with less. 'I like to think we can double in size with the workforce we have today,' she said. McKinsey said: 'Generative AI enables new levels of productivity for our teams.' Copyright The Financial Times Limited 2025
