Deloitte’s tech consulting division weighs on growth

Deloitte reported a rise in revenue in its latest financial year even as growth in its technology and transformation division slipped lower, as the consultancy sector comes under pressure from artificial intelligence.

The Big Four firm reported global revenue of $74.5bn (£56.37bn) for the 12 months to the end of May, up from $70.5bn the previous year, with Asia Pacific delivering the fastest regional growth at 7.5 per cent.

Europe, Middle East, and Africa (EMEA) followed, growing by over three per cent, while the Americas grew by 3.2 per cent.

The financial year marked the launch of Deloitte EMEA on 1 June 2026, which brings together 16 firms in the region. The footprint spans more than 80 countries, with 6,000 partners and overall revenue of €20bn (£17.4bn).

Deloitte’s global tax and legal practice grew the most, with nearly six per cent revenue growth, followed by audit and assurance at five per cent.

Deloitte said its workforce expanded to nearly 500,000 globally, up from the previously reported 470,000 employees, as the firm hired to support growing client demand. This comes after its UK entity cut nearly 200 jobs across its audit business in June after “low rates of attrition”.

Deloitte’s ‘people-led, AI-powered’ approach

Joe Ucuzoglu, Deloitte global CEO, said: “Deloitte is unlocking AI’s potential through a people-led, AI-powered approach that is grounded in trust, integrity, and professional excellence.”

The Big Four firm said it is investing deeply in people, platforms, AI alliances, and business models, with a $3bn investment through 2030 to modernise delivery and operations across all its businesses.

In June, Deloitte announced it had appointed its first chief AI officer in the UK in a push to become the country’s leading professional services firm integrating AI into both client services and internal operations.

But despite the firm’s increased investment in AI, the implications of the technology still hang over the industry.

A recent City AM Business Spend Pulse report, British businesses are paring back spending on consulting firms as they turn to AI for problem-solving.