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Professional services firms often focus on high-touch engagements that are essentially human-centric and thus may not seem to be good candidates for AI. However, much of the work they take on involves processes that are quite amenable to AI. Professional services touch many of the industries discussed in this chapter, and just as technology matures and affects all industries, of necessity it affects how professional services firms engage their clients.

The key takeaway is that AI won’t replace core professional expertise, but it will make professional services firms more efficient and thus increase the value proposition for their clients. However, professionals who do begin to embrace AI will replace those who don’t.

The applications span all industries:

 Document intake, acceptance, digitization, maintenance, and management

 Auditing, fraud detection, and fraud prevention

 Risk analysis and mitigation

 Regulatory compliance management

 Claims processing

 Inventory management

 Resume processing and candidate evaluation