As early as 2013, Christensen et al. hinted at a shift in the consulting industry with “Consulting on the cusp of disruption.” Since then, self-services (consultant-free consulting), consulting platforms (customer-free consulting) and partially automated consulting processes (digitally transformed upstream and downstream business processes such as scheduling or invoicing) have only marked the beginning of the digital transformation in management consulting. The era of digital consulting “Knowmads” began, characterized not only by their knowledge of megatrends, but also the consulting as well as the use of these trends for their own purpose. Bundled with developments driven by the COVID pandemic, the traditionally face-to-face consulting industry has moved into the digital world within a matter of days. In addition to the latest digital project management software, tools for digital meetings were used in particular, which led to a surge in efficiency. But this was not the end of the digital development of an industry that has long been considered a people’s business. A new and rapidly emerging technology, generative artificial intelligence (GenAI), trained on vast corpora comprising millions of texts and exhibiting seemingly limitless knowledge, is now challenging the foundations of traditional consulting. How does an industry historically defined as a people’s business transform when recent advancements in GenAI, exemplified by the launch of ChatGPT, demonstrate the capacity to perform knowledge-intensive tasks at a level comparable to, or even exceeding, that of teams of Master’s students and doctoral researchers? This article examines two questions in this context: An assessment of the current literature revolving around the use of AI in consulting was conducted, which was enriched by surveys in practical workshops on AI transformation with consultants as participants. The results were then compared with a case study conducted at a major German IT consultancy, Scheer IDS. At the end, a conclusion is drawn and future research topics all around GenAI Transformation in the consulting domain are opened.