The Big Four accounting firms, Deloitte, PwC, EY, and KPMG, dominate the professional services industry but are vulnerable to disruption from AI. With automation expected to eliminate about 50% of roles in audit, tax, and advisory services within five years, clients may start questioning the value of expensive consultancy services. While some experts believe AI will enhance productivity and free up consultants, the need for specialized expertise remains crucial as firms adapt to these technological changes.
AI-driven automation will bring major disruption to key service lines and drive 'a huge reduction' in profits over the next few years.
Most structured, data-heavy tasks in audit, tax, and strategic advisory will be automated, eliminating about 50% of roles.
Clients will increasingly question why they should pay consultants big money to 'give me an answer I can get instantaneously from a tool.'
AI frees up consultants, but it will never replace them; businesses will continue to require expertise as AI develops.
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