Deloitte’s tech consulting division weighs on growth

Deloitte, the global consultancy firm, saw a rise in revenue during its latest financial year, hitting $74.5 billion (£56.37 billion) from $70.5 billion the prior year. The company's technology and transformation division, however, experienced a decline in growth, as the sector faces pressure from artificial intelligence. Deloitte's Asia Pacific region led regional growth at 7.5%, followed by Europe, Middle East, and Africa (EMEA) with over three percent growth, while the Americas grew by 3.2%.

The financial year also marked the launch of Deloitte EMEA on June 1, 2026, which combines 16 firms across 80 countries, with 6,000 partners and revenue of €20 billion (£17.4 billion).

Deloitte's global tax and legal practice saw the most significant growth, with nearly six percent revenue growth, followed by audit and assurance at five percent. The company's workforce expanded to nearly 500,000 globally, up from 470,000 employees, as Deloitte hired additional staff to meet increasing client demand. In June, Deloitte announced the cutting of nearly 200 jobs across its audit business due to low attrition rates.

Deloitte's CEO, Joe Ucuzoglu, highlighted the company's "people-led, AI-powered" approach, grounded in trust, integrity, and professional excellence. The firm is investing $3 billion through 2030 to modernize delivery and operations across all its businesses. Deloitte appointed its first chief AI officer in the UK in June to become the country's leading professional services firm integrating AI into client services and internal operations.

However, despite the firm's increased investment in AI, British businesses are reducing spending on consulting firms as they turn to AI for problem-solving, according to a recent City AM Business Spend Pulse report.