Many leaders in professional services face challenges in managing a growing pipeline of deals while coping with a limited pool of available consultants. This situation often results in firms only capturing 10-20% of their potential opportunities due to staffing constraints. Professional Services Automation (PSA) software has been developed to help optimize operations, but the traditional models remain limited.
Recent developments in AI technology are reshaping this landscape through a concept known as Autonomous PSA. This approach integrates human expertise with AI agents, coordinated by a central orchestration engine. This evolution promises to improve demand capture, potentially increasing it to 70-90%, thus addressing the talent limitations faced by many organizations.
In the context of professional services, the distinction between traditional automation and autonomy is crucial. Traditional automation operates on set rules, while autonomous systems are goal-oriented and capable of analyzing data to meet strategic objectives. This shift is significant given the complexity of professional services, which focus on solving multifaceted problems through expert-driven solutions rather than selling physical products.
The autonomous PSA model combines a unified data platform, an AI engine, and specialized PSA software to facilitate the orchestration of a hybrid workforce of humans and AI. This system aims to scale resource availability instantly and optimize project outcomes by using real-time data for decision-making.
Transitioning to this model involves significant organizational adjustments. Key steps include rethinking workforce structures, investing in integrated PSA solutions, and implementing gradual automation of processes. Early successes can build a foundation for broader implementation across service operations.
Analysis of over 2000 global professional services firms suggests they currently miss capturing most of their pipeline, leaving substantial revenue potential untapped. Incorporating AI-driven labor could unlock additional revenue, potentially reaching trillions of dollars across the industry.
Organizations now have an opportunity to redefine their approaches through Autonomous PSA, allowing them to improve efficiency and focus on delivering client success.
Source: https://venturebeat.com/ai/capturing-the-trillion-dollar-opportunity-with-autonomous-professional