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FIR #422: Will AI Kill the Consulting Billable Hours Model?
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Neville and Shel both spent time at a global Human Resources consulting firm in addition to their long tenures as independent consultants. At the core of all consulting is the labor-intensive work that takes time, and time is money. Every consultant has an hourly billable rate, and even when quoting project fees, those fees are based on the hours required to complete the project. This model has been under strain for decades, leading to concepts like “value-add,” in which hourly fees are supplemented by the additional value the consultant supposedly brings to the project (which is, after all, supposed to be reflected in their hourly rate). Now, AI may be the nail in the coffin for the billable hour model, in addition to fundamental consultant structures and offerings. In this short midweek episode, Neville and Shel examine the state of consulting in the AI age.
Links from this episode:
- The Business Consulting Industry Is Being Disrupted, and Nothing Can Stop It
- How AI is Changing the Consulting Game – NevilleHobson .com
- Re-evaluating consultancy pricing in the age of AI
The next monthly, long-form episode of FIR will drop on Monday, August 26.
We host a Communicators Zoom Chat most Thursdays at 1 p.m. ET. To obtain the credentials needed to participate, contact Shel or Neville directly, request them in our Facebook group, or email fircomments@gmail.com.
Special thanks to Jay Moonah for the opening and closing music.
You can find the stories from which Shel’s FIR content is selected at Shel’s Link Blog. Shel has started a metaverse-focused Flipboard magazine. You can catch up with both co-hosts on Neville’s blog and Shel’s blog.
Disclaimer: The opinions expressed in this podcast are Shel’s and Neville’s and do not reflect the views of their employers and/or clients.
The post FIR #422: Will AI Kill the Consulting Billable Hours Model? appeared first on FIR Podcast Network.
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