Future of artificial intelligence How it’s impacting professional services

AI’s transformation of professional work

While a significant portion (96%) of professionals surveyed for the report have at least a basic awareness of AI capabilities, there are still gaps. In fact, 71% feel they do not have a good understanding of practical applications of AI, although they expect to see benefits within the next 12 months.

On top of that, there is still a disconnect between individuals and organizations.

To remain competitive and efficient, professional firms and departments will need to incorporate productivity benefits of AI into their workflows. 

Here are some of the many future-changing ways that AI is impacting professionals.

1. Augmenting core professional abilities

While professionals’ core skill sets will remain the same, those who are future-oriented are using AI systems and other technology tools to augment their capabilities and expertise. These professionals are seeing that AI is enhancing their skills and expertise rather than replacing them. 

They’re using AI’s machine-learning capabilities and large-language models to draft documents, streamline research, and extract business-friendly summaries of complex concepts. 

2. Accelerating time savings and productivity gains

Thanks to the productivity benefits of AI, professionals surveyed in the report expect to save 240 hours annually through AI implementation within a year. That translates to about $19,000 per person, adding up to a $32 billion combined annual economic impact for the U.S. legal and tax/accounting sectors alone.

Nearly one-third of the professionals surveyed have witnessed changes in their team's workflows and processes in the past 12 months. Another quarter anticipates such changes in the coming year.

3. Achieving return on investment of AI

Organizations making these changes are seeing more return on investment (ROI) gains than those that have yet to launch their operational transformation. More than half of the professional organizations surveyed in the report said that they’re seeing measurable ROI from their AI investment. 

Based on Thomson Reuters research, professional organizations can achieve the greatest ROI by engaging four layers in an AI adoption roadmap. The most common ROI metric is cost savings due to improved efficiency and productivity. But organizations are also deriving AI ROI via less-direct measures, including greater accuracy, improved client experience, better decision-making, and talent retention.   

4. Evolving service delivery models and pricing

Another transformation is the shift from traditional service models to AI-enhanced advisory offerings. According to the report data, 26% of firms have started offering higher-value advisory and consulting services in the last 12 months. AI is enabling professionals to transition from a transaction model to one where they serve as strategic partners in their clients’ future success, providing insights and guidance regarding potential risks and opportunities. 

Changes in service offerings are also driving innovative, client-friendly approaches to billing. One-third of firms surveyed are increasing the proportion of work billed through methods other than hourly rates. One-quarter of in-house professionals have increased work with outside firms specifically because of flexible fee arrangements.  

5. Changing workflows with new technologies

The future of AI also includes becoming familiar with an emerging form of artificial intelligence called agentic AI. 

What distinguishes agentic AI from generative AI is its ability to autonomously manage multistep processes of a workflow. Agentic AI makes decisions and takes action to keep a process going, while generative AI reacts to inputs to generate answers, data, and outputs. 

This new technology has the ability to unlock new abilities for professionals, allowing them to accelerate complex workflows, access trusted content, enhance quality and accuracy, and further boost productivity. 

Empowering modern professionals

The skills needed to thrive in many professions have dramatically changed over the years — and will continue to evolve. Based on the research and analysis conducted in the Future of Professionals Report, a new modern professional is emerging. While the core skills and workflows remain largely the same, the contemporary professional is implementing AI-powered technology to augment their expertise. 

To fully and profitably engage the AI future, organizations will need to address their internal skills gap and any AI concerns. All this means that AI is steadily becoming a strategic necessity to prepare for the future. The future of AI demands intentional adoption, ethical governance, and continuous learning. Professionals who embrace this shift will help lead their organizations into a more resilient, efficient, and innovative future. 

A few years ago, many professionals worried that AI would make them expendable. That fear is receding. They increasingly understand that AI can’t and won’t replace them. On the contrary — this ever-improving technology is proving to be a partner in practice that frees them from repetitive tasks. It is opening creative and more valuable ways for professionals to put their skills, experience, and insights to work for their firms and for their clients.

Navigating the future with AI

Here at Thomson Reuters, we aren’t just ready for what’s next — we’re building it. We base our strategy on four foundational pillars: high-quality data, domain and technical expertise, stringent security measures, and ethical considerations.

In the coming months and years, AI-enabled professionals will gain a competitive edge, boosting both their personal impact and their organization’s long-term value. One way to achieve this future is through a trustworthy AI assistant like CoCounsel.

CoCounsel is helping professionals navigate their futures with AI-driven insights, automation, and compliance tools, helping them keep pace with evolving client needs and deliver greater value with confidence.