The world’s leading advisory firms - such as Deloitte, PwC, EY, KPMG, Accenture etc - are proving that innovation is in their DNA by "drinking their own Kool-Aid" and evolving their business models to thrive in an era shaped by AI.

As AI automates routine tasks like audit data analysis, financial modelling, and compliance tracking, the traditional revenue streams of these firms are being challenged. However, rather than resisting change, these firms are embracing AI not as a disruptor, but as an opportunity to lead the way in crafting human-centered solutions.

Specific initiatives highlight this adaptive mindset. PwC, for example, has partnered with AI startup Harvey to integrate generative AI into legal and tax advisory services, automating complex tasks while keeping human oversight at the core. Meanwhile, EY’s collaboration with NVIDIA to develop the EY.ai Agentic Platform focuses on blending human expertise with domain-specific AI to enhance productivity and drive innovation. These firms are demonstrating a commitment to harnessing AI not just for efficiency, but for delivering smarter, tailored solutions that meet clients’ unique challenges in ways that only human-centered AI can achieve. This adaptive, innovative approach led to industry growth of around 15% in 2024.

Looking ahead, the next big opportunity lies in creating more sustainable and diversified revenue streams. Subscription-based services - such as managed compliance monitoring and digital risk platforms - offer predictable growth. Advisory firms are also moving toward interdisciplinary collaboration by combining services like digital transformation, human capital advisory, and organizational strategy. This integrated approach ensures that a win for one team, such as implementing a digital solution, leads to ongoing engagements across multiple teams, creating long-term, multifaceted client relationships.

An excellent example of this opportunity is REACH LX, a human-centered AI-powered human capital solution developed in Australia. REACH LX operates on a channel partner model, offering advisory firms a white-labeling opportunity. The nature of the platform fosters interdisciplinary collaboration across digital transformation and human capital advisory practices. The approach creates a dual revenue stream - initial implementation revenue for both teams, followed by ongoing recurring subscription revenue for the digital transformation team and continued advisory engagements for the human capital advisory team. By leveraging solutions like REACH LX, firms can position themselves as holistic service providers, driving long-term value for clients while generating sustainable growth across multiple disciplines.

For many firms, interdisciplinary collaboration is a goal to create a more seamless and higher-value experience for clients, platforms like REACH LX, create the synergistic and recurring revenue for both teams. This model creates more value for the client, upfront and ongoing revenue and inter-team collaboration represents the next chapter of evolution to the advisory business model. 

For more information on the REACH LX Partnership opportunity contact Paul Findlay.