(Cover image courtesy of Thomson Reuters)
Knowledge workers are optimistic about the potential for Artificial Intelligence (AI) to significantly boost their productivity. According to the Thomson Reuters Future of Professionals report, AI is poised to redefine workflows, drive innovation and unlock new opportunities for growth.
The poll of more than 2,200 professionals from the legal, tax and accounting, and risk and compliance fields in Canada, the United States, United Kingdom, Latin America, Australia and New Zealand, had respondents predicting that AI would potentially save them 12 hours per week in the next five years, and four hours per week over the upcoming year. That’s an additional 200 hours in just the coming year alone.
There is an expectation for AI to be a major catalyst for innovation across industries. Overall, 77 per cent of professionals now predict AI will have a high or transformational impact on their work over the next five years. This is up 10 percentage points from last year. In addition, 79 per cent anticipate innovation at their companies will increase.
“Professionals no longer need to speculate on the potential for AI to impact their work as they are now witnessing its effects firsthand. As we look to the future, one thing is clear: AI-empowered professionals and their companies will outpace those who resist this transformative era,” said Steve Hasker, president and CEO at Thomson Reuters. “With professionals predicting that AI will save them up to 200 hours in the next year, the potential economic impact is significant.”
Artificial intelligence needs human oversight
He added that the responsible use of AI was also top-of-mind for survey respondents, with two-thirds pointing to the need for human oversight. “As we navigate this change, we must remember the future of AI is ours to shape,” he explained.
Professionals have an enthusiasm for AI solutions, and specifically generative AI solutions, for the legal, tax, and risk and compliance sectors, although not for all tasks. While 63 per cent of those surveyed are already using AI-powered technologies as a starting point for tasks, research, summarization and drafting are the most common use cases.
Ninety-five per cent of those surveyed agree it’s a step too far to allow AI to make final decisions on complex legal, tax and risk, fraud and compliance matters. Areas where professionals are more comfortable with AI include drafting basic documents, research and analysis, and basic administrative tasks.
A majority of respondents say certification processes for AI systems should be introduced and believe professional or industry bodies should be tasked with developing these standards.
To access the full report, visit https://www.thomsonreuters.com/en/c/future-of-professionals.html.
