Last Updated 15 Oct 2024
The Future of Professional Services in the Age of AI
AI is changing professional services. By optimizing workflows and impacting pricing models, the future is exciting yet challenges remain. As AI progresses, firms must balance traditional methods with innovation to find the best approach.
The Impact of AI on Professional Services
AI has brought about significant changes in professional services. Notably, it optimizes workflows, reducing time from days to mere hours. Consequently, firms face ongoing debates about pricing models, particularly the billable hour. For more context, read the article by AI Business on the Professional Services Face Generative AI.
Billable Hour vs. Value-Based Pricing
The billable hour remains a staple. However, AI-driven tools push firms to adopt alternative fee arrangements. On the other hand, high-value tasks often stick with time-based billing. Thus, firms might benefit from a mixed-pricing approach.
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