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Upping Your New Business Game with AI

With demand for technology innovation and efficiency at an all-time high, we can look to Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP) to help streamline and automate proposal and RFP management, and bridge the gap between increases in RFP requests and lower win rates.

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The numbers are often ugly. The competition is fierce … and resources are stretched drum tight. This is the reality of a modern legal marketer and not much rosier on the law firm business development side. A recent business development-focused survey produced by LexisNexis found that marketing and business development were the hardest-hit elements of law firm business. With that being said, differentiation occurred when comparing high growth/ high performing firms with no-growth firms. High-growth firms are projecting growth of 38% in business development spend in 2021/21, compared to 15% projections, while their no-growth counterparts are looking at just 10% spend increases.

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