AI agents are designed to perform tasks that highly-paid consultants traditionally manage, threatening their roles due to efficiency and cost-effectiveness. McKinsey has adopted AI extensively, deploying about 12,000 agents while reducing its workforce. Despite concerns, McKinsey's leadership believes embracing AI is essential for staying relevant. Approximately 40% of McKinsey's revenue arises from AI consulting. The firm continues to innovate in AI tools that assist with document writing, summarizing, and enhancing the consulting process to maintain competitive advantage.
All those highly-paid suits are at risk as AI agents, AI models designed to autonomously carry out certain tasks, promise to do what they do with instant results - and without six-figure salary demands.
After some deliberation, the firm appears to have decided to mindlessly hop on the bandwagon like everyone else. It's deployed some 12,000 AI agents across the company.
According to the , a staggering 40 percent of the firm's revenue - last reported to be over $16 billion in 2023 - comes from advising on AI.
The most widely used AI agent at the firm helps write documents in the firm's house style. Other AI tools help summarize documents and interviews, and throw together PowerPoints.
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