Wall Street's most important consultant might be its cloud provider
But first, let's talk about some synergies.
1. The new-age consultant.
Management consultants, you're on notice. There are some new kids on the block.
Public-cloud providers are quickly establishing teams focused on helping executives rethink how different parts of their businesses can be organized via the cloud.
Insider's Bianca Chan explored this trend with a piece on how cloud providers like AWS, Microsoft Azure, and Google Cloud are reimagining themselves as business consultants.
The inspiration for Bianca's piece was a recent comment from AWS CEO Adam Selipsky about how executives are more interested in speaking about transformation than technology.
"Digital transformation is moving to the cloud, which is driving organizational change and people are saying, 'Hey, how should I organize my company? And I can see my culture changing, how do I proactively shape that?'" Selipsky said in a recent interview with SiliconANGLE.
Many of the biggest cloud providers have stood up teams focused on interfacing with the C-suite to advise them on how a move to the cloud can be an opportunity to overhaul things.
It's not hard to see how this could end up being big business for the cloud providers. If a firm is committed to migrating to the cloud, why wouldn't they use that as an opportunity to reevaluate how they do business?
These days, most companies don't opt for a lift-and-shift approach whereby they simply move stuff that was on physical servers into the cloud. Instead, migrations are viewed as a chance to reset, as Bianca explains in her piece.
And if they wanted to make changes, who better than the people who know the tech best?
Cloud providers still have a long way to go to be a real threat to consultants, but there is potential there. Let's not forget that AWS started off as a small side business.
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