Is there a ‘Customer Value Gap’ in legal services?

Earlier today I read a wonderful post by Tom Spencer: “Is AI the Solution for the Banking Sector? (Part I: Problems)“.

In his post, completely unrelated to legal – and yet oh so legal sector related, Tom states that in response to changing client buying-cycles/decisions, banks worldwide are making large investments in digital technology and analytics in order to:

  • deliver a better experience,
  • reduce costs,
  • deepen and broaden existing client relationships,
  • extend their distribution reach, and
  • protect relationships against traditional and new competitors.

[kind of sound like the perfect CRM software!]

Two additional questions Tom then asks (with undertone inference added by me) are:

  • How much value are solutions delivering to customers?
  • How could new value be created?

rws_01

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