Are international mergers, deregulation, digital technologies and artificial intelligence converging to create a perfect storm in Professional Services?
Taking the example of Law Firms one would be tempted to say yes:
The merger of Dentons and Dacheng, signed Tuesday in Beijing after securing Chinese regulatory approval, will create the largest law firm in the world with 6,500 lawyers and offices in more than 50 countries, dwarfing Baker & McKenzie, currently the largest with 4,200 lawyers.
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Digital technologies drive change across all sectors and the legal industry is no exception. Tablets and smartphones are commonplace in client meetings and court rooms. Customer experience, operational processes and business models are changing rapidly.
IBM’s Watson, which in February 2011 won the Jeopardy! contest, will now aid legal cases, supporting a new law research service named Ross, just launched by the University of Toronto.
Would you agree these dramatic changes are converging to create a perfect storm in Professional Services? Are you ready?
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