Leaders of the accounting and consulting giant are planning the overhaul to save money and regularize the services its firms in various countries offer. (Financial Times)

Talking point: AI is squeezing the consulting industry, with federal governments in the U.S. and Canada cutting back on consulting contracts and salaries flatlining for entry-level workers. Some businesses are saving money by asking AI chatbots for strategies and analysis they would have normally paid a consultant to develop, and the Big Four consulting firms themselves are investing heavily in AI to do the same work cheaper and faster. PwC’s major three rivals—Deloitte, EY and KPMG—have also merged member firms and centralized power in the face of these threats. PwC is not planning to go as far as merging all of its regional firms into one international entity, the Financial Times reported, but has already internally announced some division consolidation in the U.K. PwC Canada spokesperson Heather Neale said in an email that it would be “premature” to comment on what the changes mean for PwC’s Canadian operations.