Consulting firm GenAI bookings skyrocket

TODAY’S STORY

9 out of 10 organizations recognize the impact of generative AI, but less than 10% have found a way to make it work for them yet.

Consulting firms stand to make a lot of money by helping firms effectively implement and utilize this technology.

Accenture reported $900MM from GenAI bookings in Q3 2024, or an annualized amount of $3.6Bn, more than OpenAI’s annualized revenue of $3.4Bn at the time. The firm’s expanded partnership with Nvidia should accelerate its GenAI bookings even more.

In April, Boston Consulting Group reported that 20% of the firm’s revenue now comes from AI and GenAI integration engagements. They expect that share to increase to 40% by 2026.

With numbers like these, it’s clear that consulting firms are poised to be among the true breadwinners of the AI boom.

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Kieran & Justin Ryan