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How DOGE is changing government contracts?McKinsey, Accenture, Deloitte — consulting giants that traditionally made significant profits from government contracts. In 2023, the top 8 companies earned $18 billion.
However, the government is cutting back on consulting expenses, preferring artificial intelligence.
A new player in this market is
Palantir. Peter Thiel's company is actively replacing traditional consultants by implementing AI systems directly within government offices. In Q4 2024, its revenue from government contracts increased by 45%, and its stock prices doubled during Trump's presidency.
Moreover, the government has banned DEI (Diversity, Equity, and Inclusion) programs in federal contracts. McKinsey stays true to its principles, while Accenture and Deloitte are changing their policies, as government contracts make up to 8% of their annual revenue. 📊💼
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