Professional Services: How Generative AI Can Help Your Business
In the middle of the Generative AI hype cycle...
As a professional services organization, you are sought out for your expertise, whether your business is in management consulting, IT services, engineering, HR, sourcing, supply chain, or other forms of technical business advice. To stay competitive, you have to keep abreast of the latest technologies that could advance your capabilities or help meet your clients’ needs.
So you no doubt have heard A LOT about Generative AI, OpenAI, ChatGPT, and the AI arms race lately. There are scores of articles about the pros and cons of early experiments with the technology.
Some companies are experimenting with different Generative AI approaches to provide chat, customer support, marketing content, or different types of Question / Answer use cases. Type in something and get relevant language back that has been scraped from a broad base of Internet content and then provided to you in written form, based on your specific question or instruction.
Unfortunately, there are also plenty of examples where the AI simply gives wrong answers due to the wide variety of Internet misinformation, or ‘hallucinates’ in response to questions or instructions sending it off in odd or unanticipated directions.
Based on the recent emergence of this technology, you may be wondering where the value is for your organization. Should you dive in and start using Generative AI? Should you wait? What if you get left behind? What if you become one of the Generative AI horror stories? How should you navigate the AI uncertainty for your business and perhaps for your customers?
Your Business Is Unique. Why Risk It by Relying on Generic Information?
Professional services companies come in all shapes and sizes and industry categories – legal, HR, IT services, management consulting, marketing, and hundreds more. But what really defines your company is your team’s unique expertise and capabilities.
Further, your company has a track record. Your company has many agreements that you have negotiated. You have determined there are some terms, some pricing approaches, some legal risks that you may accept, and others that you absolutely will not. Generic answers from the internet may not serve your company well when it comes down to developing proposals or negotiating a contract. You have a playbook, your own language, and your own legal framework for doing business.
The language you have used, the descriptions of your expertise and your uniqueness, the terms, the pricing, the legal conditions, and the risks you have accepted or rejected in your business dealings in the past are a good roadmap for future agreements.
However, much of this information is typically digitally stored in written documents, in pdf files, hidden away until they are needed and painstakingly read and analyzed. It requires a lot of human effort just to extract all the information you may need from your body of past documents, and then to further read and filter the information needed for the current circumstances.
It would be great if Artificial Intelligence could help with this... But can you trust AI to get it right?
Download the Slide Deck on Docugami for Professional Services
Imagine AI Specifically Created for YOUR Unique Business
The generative AI large language models that are grabbing headlines today have been trained on a wide range of publicly available materials – basically the entire internet, from digitized books and reference materials to social media and online conversations. While that gives these models extraordinary range, it can also create problems and output that isn’t relevant or appropriate for business users.
Docugami is different.
First, we’ve spent the last 3 years designing, building, and perfecting our own Large Language Model (LLM), that is trained exclusively for business documents and business scenarios. Docugami’s AI has been trained on millions and millions of business documents, not all the noise and random information of the broader Internet.
Second, because Docugami has been created and trained for business scenarios, Docugami generates output that is aligned with the needs of business users. Your results are generated in the form of tables, spreadsheets, document summaries, and draft new documents, or a full XML dataset, ready for immediate use by you and your team.
Finally, and most importantly, we apply all of that business document acumen to your unique documents, under the direction of your team. The results generated by Docugami are derived exclusively from the information contained in your own business documents. Docugami generates recommendations for you and your team based on the best practices, and preferred language of your existing contracts, not some generic example from the Internet. So you can have absolute confidence in the results Docugami (and your team) generates.
Docugami Can Accelerate Your Digital Transformation
Docugami generates any structured information you need from your unstructured text documents, automatically. So all of the terms your company has agreed to are at your fingertips. All of the deadlines and renewal dates from every active account can be identified automatically and connected with any of your business systems. The information to run your business, keep your obligations, understand your risk, and exploit your opportunities can be generated and used for greater strategic insight, productivity, or compliance.
Digital transformation is something that nearly every company wants to do, but the time and cost and complexity can be daunting. Faced with a big expensive AI project, many companies default to manually reading documents and extracting data, or very rudimentary contract management tools that don’t deliver what frontline workers and managers need.
Manual data extraction stops digital transformation cold. It adds time, adds cost, spreads the burden, creates mistakes, and makes it all worse for everyone with the tedium of digital paperwork. Much of this work is critical, essential, time-urgent, and central to the growth of your company. If each Master Service Agreement, Statement of Work, Proposal, or Customer Report can happen faster, cheaper, better, and with higher quality, thanks to AI assistance, it can be a key to growth.
The answer is finally within reach. Docugami provides immediate value to frontline business users and managers on Day One, without the need for any expensive and time-consuming IT projects or training. And Docugami is designed to work with your existing business tools and systems.
You get the rocket science without hiring a whole team of rocket scientists. And your documents are automatically turned into data, to fuel your digital transformation.
Learn More. Download Our Slide Deck.