Management consultants look ahead

Henrik Ringgaard, PA Partner, and Country Head, Denmark, has been interviewed for Inside Business in an article discussing how the advisory industry envisages the future.

Read the article on Inside Business here.

The article asserts that 2023 has been a better year for management consulting firms than the overall advisory industry, fuelling optimism. According to several consulting firms, geopolitical unrest, the U.S. presidential election, and artificial intelligence are expected to define 2024.

Henrik Ringgaard is quoted as follows:

“We expect to grow in 2024, but it is cautious and optimistic growth. It will likely be growth in line with this year, which is good, rather than a repeat of 2022, where we grew over 20 percent.”

He emphasises that, despite the significant presence of artificial intelligence – also covered extensively in the media – many Danish companies have not fully embraced the technology yet:

“Most companies are actively working with AI but have started small. However, none of the established sectors have fully immersed themselves in it yet. AI and digital transformation are a journey of maturity, and even though it will become significant, there is still a long way to go before it is fully embraced,” he says.