Thomson Reuters, a global content and technology company, has released its 2024 Future of Professionals report, an annual survey of more than 2,200 professionals in legal, tax, risk, and compliance fields worldwide.
The thirty-nine-page report reveals that knowledge workers are optimistic about significant productivity boosts, with AI poised to redefine workflows, drive innovation, and unlock new growth opportunities.
Key findings in the report include:
- Critical time savings: Survey respondents predict AI will free up 12 hours per week within five years, with four hours per week saved in the next year alone – the equivalent of adding colleagues for every 10 team members. This could translate to an additional $100,000 in billable hours for U.S. lawyers.*
- Positive outlook on impacts of AI: 77% of professionals believe AI will have a high or transformational impact on their work over the next five years. Additionally, 78% say AI is a “force for good” in their profession, while 37% of respondents haven’t used GenAI.
- Catalyst for innovation: 79% of professionals predict significant or moderate improvement in innovation within their companies over the next five years. Over that same period, they anticipate that 56% of work will utilize new AI-powered technology.
- Strong appetite for AI standards: 57% of professionals believe certification processes for AI systems should be introduced, and 55% believe professional or industry bodies should establish their own standards.
To learn more or access this report, visit this Thomson Reuters website.