AI Powered tech - Future of Professionals Report 2024

Hi all, Thomson Reuters recently published the Future of Professionals Report, surveying 2,200 professionals working across legal, tax, and risk & compliance sectors globally.

Key findings are:

Critical time savings: Predictions include AI will free up 12 hours each week within five years, even expecting four hours per week will be saved in the next year alone. This is the equivalent of adding an additional colleague for every 10 team members.

Positive outlook on impacts of AI: There were several positive findings related to AI in the coming years, though 37% of respondents haven’t yet used GenAI in their work..

  • 77% of respondents believe AI will have a high or transformational impact on their work over the next five years.
  • 78% say AI is a “force for good” in their profession

Catalyst for innovation: These professional anticipate innovation will be spurred by AI.

  • 79% of professionals predict significant or moderate improvement in innovation within their companies over the next five years.
  • 56% of work will utilize new AI-powered technology in the same period.

Strong appetite for AI standards: There was a call for standards, though who should make those standards was not clear.

  • 57% of professionals believe certification processes for AI systems should be introduced.
  • 55% believe professional or industry bodies should make their own standards.

Future of Professionals Report 2024Future of Professionals Report 2024

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