How will generative AI impact the future of professional services businesses?

How will generative AI reshape professional servicesbusinesses? In this episode of Clarity, David Wong, Chief Product Officer atThomson Reuters, discusses key findings from a recent Thomson Reuters Institutereport on GenAI adoption across legal, tax, accounting, and other professionalservices sectors. The conversation highlights how organizations have movedbeyond simply experimenting with AI and are now focused on integrating it intobusiness operations and workflows. While adoption continues to grow, Wongemphasizes that professional services are still in the early stages ofrealizing the full value of GenAI, with challenges around training, changemanagement, and implementation remaining significant barriers.

A major theme of the discussion is the growing momentumbehind AI in tax and accounting, where confidence and adoption have acceleratedrapidly. Wong also explores the shift from general-purpose AI tools to morespecialized solutions designed for professional workflows, arguing that thegreatest value will come from AI systems that support specific industry tasksand processes. Looking ahead, he predicts that AI will become a pervasive partof professional work—not replacing professionals, but augmenting theircapabilities, automating routine tasks, and enabling firms to deliver servicesmore efficiently and effectively.

3 reasons to listen:

‍

1. Understand where GenAI adoption stands today andwhy many professional services firms are still in the early stages ofimplementation despite growing enthusiasm.

2. Learn why tax and accounting may be emerging asthe next major AI growth area, with increasing confidence, usage, andworkflow-focused applications.

3. Gain insight into how AI could transformprofessional services over the next five years, from workflow automation andefficiency gains to new service delivery models and business opportunities.

‍
Discover how GenAI is transforming professional services and what is coming next.