How is AI Being Used in Professional Services?

Artificial Intelligence (AI) has transformed professional services through innovative automations and increased efficiency. While it is a common belief that AI will replace the traditional human interactions that come with professional services like consulting, accounting, marketing, and more, we have seen that AI has only enhanced day-to-day work and operations that come with these services. 

At Sedna, we are committed to staying ahead of the latest trends in AI that could help improve our consulting and IT services to best serve our clients. In addition, our expert team provides strategic, ethical, and results-driven AI services to help organizations navigate and implement AI effectively so that they may also reap the benefits of these groundbreaking technologies. 

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In this blog, we will share how AI is being used in professional services, and navigate specific forms of AI including generative AI (GenAI) and agentic AI.

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AI in Professional Services

Productivity and efficiency are key factors when it comes to professional services, and AI has the power to improve them significantly. However, there are several things to take into account before jumping into a major AI implementation, such as risk assessment and responsible use. Ensure that everyone involved with using AI is guided by rules on its ethical and fair usage as well as any prohibited uses. Explore how the AI will be used and if it is worth any challenges that might arise. Educate employees about how AI works and how it will improve workflows and operations. It is important to start slow and small rather than pushing forward into a huge change all at once, and to take time to prepare.

When it comes time to implement AI, professional service firms will find that there are a variety of elements that AI can assist with. These might include:

• Generating client presentations based on specific information

• Automating time-tracking

• Comparing data points against industry standards

• Summarizing consultations or interviews and identifying highlights or action items

• Creating reports or proposals 

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Generative AI in Professional Services

Generative AI, or GenAI, is a form of AI that generates original content that might include text, images, video, etc. based on user prompts. One example of GenAI would be ChatGPT, which is widely used for its generative capabilities. There are several ways that GenAI specifically can transform professional services:

• Processing and Analyzing Client Data: In professional services, client work typically comes with large amounts of data that can take time to process in a traditional manner. GenAI can not only review the data much quicker than the human brain, but can pinpoint specific trends or highlights that you wish to identify. With GenAI, additional time is freed to focus on developing strategic recommendations and next actions for clients based on the data.

• Automating Research: GenAI allows consultants and other professionals to conduct market research tailored to specific trends and other factors. This way, there is additional time available to analyze the gathered information without having to sift through countless long articles manually. It can also monitor any market developments and keep you informed on any important shifts in the landscape.

• Creating Client-Facing Content: While generally the team of professionals should have final decisions when it comes to client deliverables, GenAI can help draft initial content to start off the process. It is highly useful when it comes to generating charts, graphs, and text that can be refined and tailored to client needs and preferences. This is a huge time saver and can help provide professionals with a starting point.

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Agentic AI in Professional Services

About 48% of tech executives are already adopting agentic AI, which is a different form of AI that can make decisions and adapt to shifting environments autonomously. It requires less human oversight than other forms of AI to continue streamlining tasks and conducting other time-consuming operations so that professionals can focus on more strategic and creative endeavors. Its abilities include: 

• Improving Productivity: Agentic AI can research, analyze, and draft in one software platform, which significantly improves accuracy and productivity for professionals and allows them more time to focus on creative work. This technology’s ability to adapt and make decisions makes it a great option for carrying out these kinds of tasks.

• Expedite More Complex Workflows: With agentic AI, professionals can handle transactional workflows efficiently and accurately. It can quickly analyze large amounts of data and pinpoint any errors or anomalies while making necessary adjustments all on its own.

• Boost Quality and Accuracy: Agentic AI can search through case studies or other external expert resources to help improve any firm reports or documents that require high quality and accuracy. It can compare files in order to ensure consistency across the board and compliance when necessary. 

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AI in its different forms are transforming professional services across industries and allowing professionals additional time to focus their attention on strategic and creative projects. These groundbreaking technologies are introducing new and innovative ways to conduct day-to-day work and provide top-of-the-line services to clients and customers. 

Contact us at info@sednacg.com to talk to one of our AI experts and find out how your firm can benefit from an AI implementation.

“The heart and soul of the company is creativity and innovation.”

– Bob Iger, CEO of Disney

Sources:

https://www.lexisnexis.com/community/insights/professional/b/industry-insights/posts/generative-ai-professional-services

https://www.claconnect.com/en/resources/articles/25/embracing-ai-the-key-to-thriving-in-professional-services

https://www.thomsonreuters.com/en/insights/articles/how-to-use-agentic-ai-workflows-in-professional-services