Artificial intelligence (AI) and machine learning are just two of the technologies that are currently having a significant impact on today’s enterprise. And the appetite is growing.
Of course, the common misconceptions of AI have been well discussed—that it will lead to robots taking all of our jobs in the future. By 2030, up to 14% of the global workforce, could have their jobs automated. But that’s not necessarily a bad thing. Instead of being viewed as a negative, AI and machine learning offer numerous opportunities for enterprises to transform and improve across the board, thereby creating new opportunities for everyone. So how should businesses take advantage of these trends to create the intelligent enterprise of the future? Let’s take a look at the key trends affecting the professional services industry.
Professional services firms are using AI to tackle one of the biggest problems when dealing with their clients: document acceptance, maintenance, and management. From receipts in a shoe box to scanned records, each type of data presents its own unique problem to the professional. Helping solve these problems are advancements in optical character recognition (OCR) technology. OCR transforms data of any kind into readable, usable electronic documents.
Advanced OCR technology can aid lawyers in sifting through large discovery sets, help medical practices upload patient data into their systems or serve any number of other uses. Once documents have been processed by OCR, they’re no longer “documents.” They become data — searchable, sortable and malleable — which allows the professional to turn unusable ink into usable bytes. While most professionals aren’t going to learn how to develop bots and write code, there will be a shift in the knowledge base of skilled professionals. Those who can help programmers write, test and apply the code will thrive in the new era of professional services. New associates who can write or understand SQL or another coding language may have an advantage over their peers.
AI in professional services firms is not right for everyone or every use. Depending on your firm size and client base, trying to force automation into a process may create more inefficiencies than it’s worth. Assign someone to your firm to research available technology to see what makes sense for your needs.
Feel free to contact E-SPIN for your digital transformation (DT) initiative, from consultancy, blueprint, architect to managed outsource to deliver it as part of the enterprise business technology transformation masterplan.