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ChatGPT & Consulting: Perspectives of the Big 4 and MBB

Posted On : 17th May 2023

ChatGPT & Consulting:

Perspectives of the Big 4 and MBB

SCD Advisory is an independent M&A boutique specialized in the Consulting sectors: we have collated some views on the ChatGPT topic from the main players in the Consulting market.

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Recently, the launch of ChatGPT, the new chatbot developed by OpenAI, has caused quite a stir. Although this tool, based on artificial intelligence, was created to improve our lives, access to new business opportunities and address humanity’s biggest challenges, many point to its limitations: unreliability, misinformation, cybercrime, impacts on the job market. According to an article from the Financial Review, lawyers, tertiary educators, logistics teams and management consultants are the professions likely to be most affected by artificial intelligence.

–         The Financial Review: Growing artificial intelligence use to shake up about 500,000 Australian jobs (afr.com)

–         The Guardian: OpenAI CEO calls for laws to mitigate ‘risks of increasingly powerful’ AI | ChatGPT | The Guardian

–         Forbes: The Strategic Opportunities Of Advanced AI: A Focus On ChatGPT (forbes.com)

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KPMG: The consulting firm uses its own chatbot, KymChat, developed by Microsoft. The tool will enable KPMG to access to internal database of partner and staff resumes and certain financial data.

ChatGPT: KPMG launches custom KymChat tool to increase productivity (afr.com)

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PwC: The firm plans to invest $1B in generative artificial intelligence technologies in collaboration with Microsoft and OpenAI to improve its consulting, audit and tax services.

Accounting giant PricewaterhouseCoopers embraces ChatGPT AI, plans $1 billion investment (interestingengineering.com)

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EY: How ChatGPT delivers business benefits across a variety of business functions and industries?

How ChatGPT can be harnessed for business | EY Ireland

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Deloitte: The capabilities of artificial intelligence technologies have multiplied with the arrival of ChatGPT which also brings some lasting problems and new risks especially if artificial general intelligence could surpass humans.

Some thoughts on artificial intelligence – The Monday Briefing (deloitte.co.uk)

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BCG: Generative AI will impact CEO’s organization and their industry on various aspects: i) industry disruption, ii) competitive advantage, iii) creative destruction, iv) productivity gains and v) technical limitations. The CEO’s goal is to unlock hidden value and improve efficiency through generative AI.

The CEO’s Guide to the Generative AI Revolution | BCG

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McKinsey: Power of generative artificial intelligence increasing better and faster human capabilities but caution is required.

How generative AI & ChatGPT will change business | McKinsey

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Bain & Company: Partnership combining OpenAI’s artificial intelligence technology advances with Bain’s digital application strategy and delivery capabilities with Coca-Cola as its first clients.

Bain & Company announces services alliance with OpenAI to help enterprise clients identify and realize the full potential and maximum value of AI | Bain & Company

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Written by: Pierre Briand, Founder & Managing Partner

Pierre brings 25 years of expertise in advising entrepreneurs, with a deep background in management and financial advisory across corporate finance, private banking, and wealth management. His extensive experience includes numerous sell-side and buy-side deals, IPOs, mergers, integrations, and consulting projects for both small businesses and large global corporations. As an established and highly regarded advisor, Pierre is known for his savvy, trusted guidance.

Pierre’s career began in Australia before he moved to France, where he worked with prominent business figures like billionaire François Pinault on M&A deals within the Artemis group. He then founded BC&D, an M&A small-cap firm in Paris, where he managed corporate advisory services across Europe, covering both origination and execution. His work extended beyond transactions, advising entrepreneurs on wealth management strategies to optimise the transition from business ownership.

In Paris, he held advisory roles at the Belgium Family Office (DeGroof) and as a senior private banker and head of the HNW segment for France at JP Morgan. Returning to Australia in 2015, Pierre established the ANZ subsidiary of a UK-headquartered M&A firm, executing 9 M&A transactions across Australia. In 2019, he launched SCD Advisory, where he has since completed 35+ transactions, earning multiple global awards in M&A advisory from 2021 to 2024. Notably, he was named ‘Deal Maker of the Year’ by Finance Monthly in 2022 for his sale of Hypothesis to McKinsey & Co.

Pierre graduated from the Business of Troyes in France and has a postgraduate in Corporate Finance from the University of Caen. He is also a certified Financial Analyst and a Graduate of the Australian Institute of Company Directors (GAICD). Pierre further enhanced his credentials by completing the “Leading Professional Services Firms” program at Harvard Business School. His track record and accolades highlight his dedication to excellence and his exceptional skill in delivering successful outcomes for his clients.

Pierre is French, Australian citizen, Overseas Citizen of India. He is married and has two children. He is passionate about international travel, gastronomy, sailing and golf. As an experienced sailor, his motto in business and life in general is: “We cannot direct the wind, but we can trim the sails”

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