Why we should all pay attention to what lawyers, auditors, and accountants are doing with AI
Briefly

Why we should all pay attention to what lawyers, auditors, and accountants are doing with AI
"A report reveals that professional services firms are finding a higher return on AI investment compared to other sectors, with 53% of professionals reporting at least one profitable AI use case."
"The most successful firms in AI implementation are those with a well-defined strategy and governance structures around AI usage, indicating the importance of clear frameworks."
"While structured AI adoption yields better results, 64% of respondents in less structured firms still reported ROI from AI use cases, highlighting the technology's effectiveness."
"Key challenges in AI use include concerns about inaccuracy, as reported by 50% of respondents, which could hinder broader AI adoption in professional services."
Professional services are experiencing significant changes due to AI advancements, evident at a conference on its future at Oxford University. A report commissioned by Thomson Reuters indicated that 53% of surveyed professionals found a return on AI investment, markedly higher than in other sectors. Firms with structured AI strategies and governance noted the most gains, yet even those with less structure observed a 64% ROI in at least one AI application. The primary barrier to broader AI use highlighted by 50% of respondents is concerns regarding inaccuracy.
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