Alvarez & Marsal Wants to Make $3.5 Billion From AI Work by 2028

Alvarez & Marsal wants to generate 50% of its revenue from artificial intelligence work by 2028, which would represent as much as $3.5 billion in earnings.

The consulting firm, which focuses on restructurings and turnarounds, is launching an effort to add as many as 200 staff with AI skills, as part of an effort to grow its capabilities in the sector, its head of Europe, Middle East and Africa, Antonio Alvarez III, said in an interview. That includes technologists, data scientists and agentic experts.

“We are getting much more impact from our own work with the use of AI,” ...