In this panel discussion, Zulon Begum (Partner at CM Murray LLP), Corinne Staves (Partner at CM Murray LLP), David Shufflebotham (Founder at PepUp Consulting) and Rob Millard PhD (Director at Cambridge Strategy Group) are joined by guest speaker Rutvik Rau (Co-Founder and CEO of August) to explore whether AI, external investment and changing client expectations are fundamentally disrupting professional services, or accelerating the evolution of existing models.
In particular, the panel discuss:
- AI and the changing economics of professional services: How automation could increase efficiency, open up new revenue streams and drive a shift towards new pricing and delivery models.
- Scale without headcount: Why growth may become less dependent on increasing lawyer numbers, as technology enables firms to scale their capabilities and services differently.
- Competition and consolidation: How AI, investment and new delivery models could intensify competition between firms and reshape the professional services market.
- Expertise as an asset: The opportunity for firms to capture and institutionalise the knowledge and experience of their professionals, rather than allowing it to leave when individuals move on.
- The partnership model under pressure: Why partnership may be flexible enough to support the next stage of evolution, while increased investment needs raise important questions around capital and funding.
- People, culture and leadership: Why successful transformation will require firms to engage their partners, build understanding of AI and overcome resistance to change.
- From hype to action: The practical steps leaders can take now, from mapping how work is delivered and identifying efficiencies to understanding the investment needed to become an AI-enabled firm.
If you have any questions arising from this recording or would like to discuss the issues facing professional services firms in more detail, please contact Zulon Begum (Partner at CM Murray LLP), Corinne Staves (Partner at CM Murray LLP), David Shufflebotham (Founder at PepUp Consulting) and Rob Millard PhD (Director at Cambridge Strategy Group) or Rutvik Rau (Co-Founder and CEO of August).