Consultants making more money from GenAI than tech companies building them #shorts #ai #technology

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Consultants are making more money from GenAI than the startups building them.

OpenAI’s annualized revenue is $3.4 Bn.

Meanwhile, Accenture has $3.6 Bn in annualized bookings.

BCG expects to earn $2.5 Bn from GenAI this year.

IBM’s consulting arm has also made over $1 Bn from AI since inception.

There are only a handful of companies building GenAI products, but tens of thousands of them looking to use Gen AI the right way. These consultants are helping them do it, and are charging millions of dollars for it.

And unlike the startups building these products, these consultants can sell their services at low risk and profitably.

Eventually, GenAI companies should surpass their consultant counterparts. But until they don’t, they might as well acquire some of them to hedge their risks.

Books to read:

- The Coming Wave → this largely paints a utopian picture of AI if not dealt with properly, lots of perspectives from the authors who have themselves built some of the most advanced AI products
- A brief history of brains → long read, but very interesting; connects AI with neuroscience and human behaviour

#artificialintelligence #ai #business #technology #wyr #yashrajsharma