AI & The Future of Consulting: Will Data Scientists Become Consultants?

It is necessary that AI is some kind of magical computerized personality, a wide range of algorithms, and machine learning tools, to identify patterns and optimize or predict trends. Systems can recognize speech, analyze photographs, and use pattern matching techniques to determine mood, honesty, and even personality traits. In a matter of seconds, analysts of the analytics system and quickly analyze their analysts, analyze them by category.

Using statistics, AI systems can “predict” and “learn” by plotting decision curves and optimizing decisions based on data science services company criteria. Hence, it is not difficult to imagine an AI system that looks at all possible demographics, work experience, and interview questions for candidates, and then “effectively each will do their job” (HiredScore, Pymetrics, HireVue, IBM and others are already working on this ).

Despite the fact that the process itself is much more complicated than it seems, this decision is an important and noble deed. Answering a few weeks ago on this topic. If such systems make us a little smarter, we can improve our operational efficiency. ”

Of course, there are many risks and obstacles to be overcome, but the potential is enormous.

AI & The Future of Consulting: Will Data Scientists Become Consultants? |  by Alexandre Gonfalonieri | Towards Data Science

Which killer apps can we expect in the near future?

Let me list some of the great potential opportunities.

In recruiting, many decisions are made intuitively. One study found that most recruiting managers infer a candidate within the first 60 seconds of an appointment based on appearance, handshake, outfit, or candidate. Do we know what characteristics, experience, education, and personality traits guarantee success in a particular role? No, we don’t know.

Managers and HR professionals spend billions of dollars on assessments, tests, simulations, and games used to recruit staff, yet many argue that despite this, in 30-40% of cases, candidates are selected incorrectly.

AI-powered algorithms can study resumes, find suitable candidates within companies, identify high-performing candidates within companies, identify high-performing employees and provide interview transcripts to help us select the people who are even likely to contribute to the most successful.

One of ours uses AI-powered customer assessment Pymetrics, built on the principles of gamification, screening applicants for jobs in marketing and sales. By eliminating all mistakes made in the interview process and reviewing the candidates’ track record, the success rate increased by more than 30%. AI in recruiting has a bright future.

Most studies show that mastering technical skills is only a small percentage of success. Most studies show the highest financial indicators of good hiring, relying (40% of the hiring criteria) on emotional and psychological characteristics such as ambition, learnability, dedication, and commitment. Will AI take this into account? Perhaps.

Three key applications of AI in consulting:

Artificial intelligence will help retailers, first of all, with regard to the selection of goods and determining their value for the buyer. It will be effective when:

  • Selection of the optimal assortment. When you need to form the optimal mixed set of products for promotional offers (taking into account sales channels and seasonality) so that basic sales and margins grow.
  • Determining a pricing strategy data analytics consulting company. Choosing the right pricing for your product categories, mainstream, seasonal, and promotional items will help manage your target margin and sales growth.
  • Supply chain management. This is necessary in order to increase the accuracy of forecasting and to minimize the situation when an item is out of stock, it is written off or returned.