Navigating the concerns of AI

Understanding the ethical and strategic concerns of AI

Based on the responses of surveyed professionals, the Future of Professionals Report identifies three top barriers to AI investment that focus on ethical and strategic concerns — accuracy, budget, and security.

Ethical concerns

The ethical concerns that many professionals express focus on biased outputs and data privacy. 

Bias. AI generates outputs based on algorithms that human beings develop and on information that human beings provide. But if an AI development team isn’t careful about how it trains its machine-learning protocols, the tool may generate outputs that favor one outcome over another. Those biases can render an AI system unreliable. This is, of course, a significant worry for law and tax professionals, who require access to utterly trustworthy legal and regulatory information.

Hallucinations. AI models that aren’t carefully developed may be vulnerable to hallucinations — outputs that deliver misinformation. This is probably one of the reasons why 50% of report respondents said that a lack of “demonstrable accuracy of AI-powered technologies” was a major barrier to their organization’s investment in these tools.

Data security. To provide reliable outputs, AI systems require access to large amounts of data, including sensitive personal information. But this understandably raises concerns about privacy violations, as security vulnerabilities can expose a company to financial penalties, legal difficulties, and reputational damage. 

Among those surveyed in the report, 42% cited a lack of demonstrable security as a barrier to AI investment in their organizations. Many professionals worry that AI systems might compromise sensitive data and make it publicly available. Professional organizations must ensure that they are conforming to data protection regulations and search for AI tools that prioritize data security.

Strategic concerns

Nearly two-thirds (65%) of respondents who have personal AI goals say they aren’t aware of their organization having an AI strategy. More generally, only 22% have a visible strategy. This disconnect can result in a lack of guidance, causing individual professionals to be inconsistent, inefficient, and even unintentionally unethical in their use of AI.

It's also worth noting that 38% of professionals working for organizations that do have an AI strategy also reported that they don’t have any personal goals for AI adoption. Lacking objectives increases the risk that the organization won’t effectively implement its AI strategy.

Yet another concern that respondents noted in the report is that AI tools might be so good that organizations might rely too heavily on their use. They fear that this overreliance could hinder professional development, particularly when it comes to building the necessary skills for using AI effectively and ethically going forward. This technology is constantly evolving, after all.

Building AI literacy and professional resilience

Ethical and strategic concerns of AI are reasonable worries. But by addressing those concerns, professionals and the organizations they serve can develop competitive advantages in their market.

Strategic training leads to more successful adoption

Professionals are well aware that rapid technological advancements, evolving business needs, and shifting workforce demographics are constantly changing the way they conduct their practices. Professionals who can adopt AI systems effectively will gain a competitive edge, boosting both their personal impact and their organization’s long-term value.

Professionals who are already using AI should advocate for its ethical use within their organizations. Doing so will boost their own growth while contributing to the successful incorporation of AI into their organization’s workflows. In addition, successful integration requires that organizations maintain human oversight and management over the AI platforms they use.

Aligning AI adoption with organizational strategy

Whether professionals are just beginning to explore AI tools or are already using them, they will achieve success in their adoption only by aligning these tools with their organization's strategic objectives.

For many professionals, that’s not easy to do. The Future of Professionals Report reveals that just 22% of the organizations surveyed have established a detailed AI adoption strategy. But the report also demonstrates that organizations with such a strategy are 3.5 times more likely to see a return on investment (ROI) compared with those lacking such plans.

The report’s survey respondents predict that AI will save them five hours weekly — about 240 hours per year — for an average annual value of $19,000 per professional. This time savings and financial value are because organizations that align AI adoption with functional needs across all levels are more likely to achieve greater transformation, efficiency, and value than those with an undirected approach.

There are several operational adjustments that can drive AI adoption in ways that boost ROI:

• Actively accommodating AI into workflows and processes
• Adding new roles and building new skills as organizations reinvent themselves to integrate AI successfully
• Offering higher-value services to clients, such as advisory and strategic consulting

In addition, organizations that can offer new ways to deliver services — to make efficient use of resources — and new pricing models that better reflect the value provided to clients are more likely to succeed in the AI-driven future. According to the report, organizational leaders can accelerate this success by introducing changes through active AI investment while providing company-wide guidance aligned with a clear and ethical vision.

Navigating the AI future

To help professionals and organizations confidently navigate AI’s challenges and changes, they need platforms that support its ethical use, data security, strategic alignment, and ongoing professional development and evolution.

Thomson Reuters isn’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.

That’s why professionals who begin using CoCounsel today will be ready to securely apply AI to organizational goals without any worry.