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First Movers with Gen AI Will Win — Bain’s Mukarram Bhaiji on AI Strategy and Consulting
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In this episode of Advising the Advisors: AI in Consulting Unlocked, host Bolu Ben-Adeola sits down with Mukarram Bhaiji, Partner at Bain & Company, to dive into why many companies get stuck automating outdated processes rather than strategically rethinking them with AI. He explains the essential elements of successful AI adoption and shares insights on how Gen AI is reshaping consulting.
What You’ll Learn:
- How to transition from cost-plus to value-based pricing using AI-driven insights
- Why organizational readiness is crucial for scaling AI beyond proof-of-concept stages
- How to build connected AI use cases that drive transformative business outcomes
- Why the core consulting value proposition remains unchanged despite AI automation
- How to use AI proactively for identifying business opportunities and market insights
Mukarram is a Partner at Bain & Company, specializing in AI-powered pricing strategies and business model innovation. With vast experience across multiple sectors, including technology, consumer products, and industrial goods, he brings unique insights into value-based pricing and AI implementation in consulting. Mukarram has developed particular expertise in helping organizations transition from traditional cost-plus pricing models to more sophisticated, value-oriented approaches enhanced by AI.
Episode Highlights:
- Why Pricing Power Is the Last Great Business Advantage
Pricing isn't just about numbers; it's about understanding human behavior and where you have leverage. When you're selling simple, commoditized products, buyers have lots of options and more power. But as complexity and specialization increase, so does your pricing power because fewer alternatives exist. Recognize where you sit on that spectrum and use pricing to build long-term, sustainable relationships. - How Companies Are Turning AI Into a Revenue Engine
AI is evolving from simply saving time to actually driving action. At first, companies used AI to cut down admin tasks and make teams more productive. But now, with smarter models and agentic tools, AI is starting to augment expertise, helping sales teams generate leads, match solutions to customer needs, and even guide conversations in real-time. - Consulting in the AI Era
AI hasn't changed the core of consulting. It's still about people, relationships, and solving complex problems with strategic thinking. What has changed is how quickly we can get to the fact base; what used to take hours of manual work is now faster thanks to AI, giving consultants more time to focus on the real value.
More Highlights from this Episode:
- [05:14] What Alan Turing Would Say About AI Today
- [13:05] Why Most AI Projects Fail
- [36:55] Why the Best Consultants Still Grind Despite AI
If your business is investing in AI but struggling to see real impact, this episode is for you. Discover the hard lessons, the breakthroughs, and the strategies that separate AI success from failure.
If you enjoyed this episode, make sure to subscribe, rate, and review it on Apple Podcasts, Spotify, and YouTube Podcasts.
Episode Resources:
Advising the Advisors: AI Consulting Unlocked is handcrafted by our friends over at: fame.so.
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