Artificial Intelligence (AI). In today’s evolving business landscape, this term elicits myriad emotions—from exhilaration to unease. As the adoption of technology accelerates, Karl Krummenacher, former Inc. 5000 CEO, provides a distinct lens through which to view AI’s role in the professional service industry.

While AI promises transformative potential, it’s also enveloped in misconceptions. Narratives range from AI ousting humans from the workplace to being the sole savior of modern business challenges. Navigating this intricate terrain is Karl, a lifelong entrepreneur who started in retail, and has launched, grown (and crashed) businesses in retail, entertainment, distribution, software, SAAS, and marketing.

Karl’s endeavors aren’t merely varied; they’re revelatory. At 60, Karl’s seen more than most. At an age when many are on the brink of retirement, he’s immersing himself in AI’s vast potential to ease workloads while improving quality for teams and the customers they serve, predominantly through his “Applied AI” initiative.

But what does Applied AI mean for the professional services sector? For coaches and consultants, it could be harnessing AI to meticulously analyze client feedback, refining their methodologies based on genuine insights. For legal firms, AI might facilitate quicker, more accurate document analysis, giving attorneys more time to focus on the nuances of an agreement; while doctors might employ it to train staff, reduce office workloads or analyze patient histories. The potential transformations are boundless.

And Karl’s vision goes beyond just implementing technology; it’s about a paradigm shift in work culture. In a world that champions perpetual hustle and grind, he underscores the value of strategic work. It’s about doing less, not more. “Multiplication by Subtraction,” for team members – focusing on the essential few tasks and initiatives that humans do best while allowing AI and automation to manage the peripheries.

Karl’s approach to automation shatters the notion that AI is solely the domain of sprawling tech corporations. He illustrates how even small business owners, like coaches or consultants, can immensely benefit from AI. From employing AI as a constant, at-the-ready guide for new team members –  hastening the onboarding process, to letting it handle routine tasks, freeing professionals to focus on nuanced aspects of their roles. 

But, perhaps the most compelling argument Karl offers is on the harmonious blend of AI (Artificial Intelligence) with HI (Human Intelligence). AI, in essence, allows professionals to double down on what humans do best: forming profound, genuine relationships. Businesses that harness both AI and HI don’t just reap an impressive ROI (Return on Investment), but also a remarkable ROT (Return on Time) and ROE (Return on Energy).

Reflecting on Karl’s journey, his mission emerges lucidly: to empower business owners and their teams to do what they love, do their best work, reach their pinnacle with less effort and less time, and amplify value through a compassionate integration of technology and human touch.