Leading Through a Professional Services AI Transformation
Leading Through a Professional Services AI Transformation  
Podcast: AI Knowhow
Published On: Mon Jan 29 2024
Description: Which industry gets the award for the most challenging one when it comes to client retention? And how can AI help with client retention in professional services and beyond? This episode of AI Knowhow touches on those questions and more. David DeWolf, Mohan Rao, and Courtney Baker discuss the role that AI can have in helping professional services organizations A) gain a deeper understanding of all the various signals impacting and showing client satisfaction and B) help leaders keep their finger on the pulse of client satisfaction as their organizations scale from the $10M-$20M in annual revenue range to $100MM-$200MM and above. Pete Buer also talks with Matt Dixon of DCM Insights about some of his company's groundbreaking research, which found that client retention in professional services is hard and getting harder. A recent study DCM Insights conducted found that, as recently as five years ago, 76% of buyers preferred to buy again from partners or firms they'd used in the past. That percentage today has dropped to 53%, and it's expected to drop to 37% in the next five years. The big takeaway for business leaders is clear: continuing to serve clients as if we're in a business as usual environment is a recipe for eventual extinction. All that plus Courtney and Pete cover the latest news, including an overview of AI news coming out of the World Economic Forum's annual gathering in Davos and a new report from McKinsey that shows the gap between Digital and AI leaders and laggards is only growing. Watch this episode on YouTube: https://youtu.be/mgJx7Ka993A Sign up for the Knownwell Client Intelligence beta waitlist at https://knownwell.com/client-intelligence/. AI Knowhow is brought to you by the team at Knownwell.