Generative AI is significantly transforming Australia’s consulting industry, leading to notable productivity enhancements and operational efficiencies. Major firms have invested heavily in AI technologies, deploying custom-built virtual assistants akin to ChatGPT to streamline tasks and reduce employee workloads.
Grant Thornton’s AI Integration Grant Thornton’s “AI@GT” initiative has been particularly impactful. The tax team, utilizing Microsoft’s Copilot, has reported time savings of up to 7.5 hours per week. On average, daily AI users at the firm save nearly 50 minutes each day. This efficiency gain allows employees to focus on higher-value client work and supports flexible work arrangements.
Ernst & Young Global Limited’s AI Adoption Since October 2024, EY’s 5,300 Oceania-based employees have experienced average weekly time savings of 30 minutes through the use of Microsoft’s Copilot. As AI becomes more embedded in daily workflows, these time savings are expected to increase. Katherine Boiciuc, EY Oceania’s Chief Technology and Innovation Officer, noted that AI has not only boosted operational efficiency but also enhanced job satisfaction by reducing time spent on administrative tasks.
Deloitte’s MyAssist Platform Deloitte Australia is set to implement its in-house generative AI platform, MyAssist, across all business units following a successful trial involving 1,300 users. Designed to support tasks like research, analysis, data handling, and code development, MyAssist is anticipated to become a pivotal productivity tool within the firm. CEO Adam Powick emphasized Deloitte’s commitment to upskilling employees to effectively leverage AI for improved work outcomes.
KPMG’s AI Strategy KPMG Australia is also embracing AI, with plans to invest over $80 million in AI and technology platforms in the 2025 financial year. This includes the launch of its AI Eclipse Learning Academy to upskill staff and further development of its in-house AI platform, KymChat. CEO Andrew Yates highlighted that AI is central to the firm’s future strategy, aligning with market demand for technology transformation services.
Challenges for Smaller Firms While large consulting firms are reaping the benefits of AI integration, smaller firms face challenges in matching these investments. Smaller consulting firms can potentially enhance their operations by adopting affordable, user-friendly AI tools tailored to their specific needs.
Conclusion The integration of AI in Australia’s consulting sector is reshaping traditional workflows, enhancing productivity, and allowing professionals to focus on strategic, value-added services. As AI technologies continue to evolve, firms that effectively harness these tools are likely to maintain a competitive edge in the dynamic consulting landscape.
Original story and figures reported in The Australian.
