Many HR leaders strive to tap into AI’s transformative impact to enhance productivity, save time and foster career fulfillment. But AI adoption isn’t a turnkey endeavor. The freshly released 2024 Future of Professionals from Thomson Reuters expands on how employees and leaders in professional services see the future unfolding, with AI in the limelight.
AI in the professional services space
This second annual survey gathered insights from over 2,200 respondents in the professional services industry globally, including more than 200 C-suite leaders and professionals from sectors such as legal, accounting and compliance. According to the research, this population is contemplating a future of work heavily influenced by artificial intelligence.
Nearly 80% of respondents predict AI will be the primary driver of change in their professions. Despite the recognition of AI’s importance, almost one-third of professionals feel that their organizations are falling behind in adopting AI technologies. Also, there is a significant divide in perceptions of AI adoption across generations. While almost three-quarters of Baby Boomers believe their organization’s AI adoption pace is appropriate, only about half of Gen Z respondents agree.
However, enthusiasm for AI doesn’t mean that professionals aren’t cautious. The report shows that the top concerns regarding AI include overreliance on technology at the expense of skill development, the potential for AI to be used maliciously and privacy issues. There also remains uncertainty about AI’s impact on pricing models in the professional services industry, especially in fields where compensation is based on billable hours.
Interestingly, AI might provide a solution for those workers craving human-focused elements that are sometimes neglected in busy workplaces. Respondents expressed a desire for more work/life balance, more time for judgment-based and experience-driven tasks, and improved mental health and wellbeing.
Thomson Reuters’ data shows that, within a year, AI could free up to four hours out of each work week—by five years, that number jumps to 12 hours per week or 600 hours per year. It could be imagined that these hours could be filled with the activities respondents want more of. In fact, when asked what they’d do with the time they saved, the top answer was work/life balance in the form of hobbies, rest and wellbeing.
AI as a ‘positive force’
Thomson Reuters Chief People Officer Mary Alice Vuicic sat down with Human Resource Executive to discuss the results of the report and the outcomes that matter most to people leaders. Vuicic emphasizes that AI can serve as a bridge to the future rather than a barrier.
One of the most encouraging findings from the report, according to Vuicic, is that 78% of respondents view AI as a positive force. She also notes a 10% increase in the importance attributed to AI compared to the 2023 survey and highlights a shift from fear of job loss among professionals, particularly regarding generative AI. “We are well past that,” she says.
Thomson Reuters has integrated AI into its strategic roadmap, according to Vuicic, prioritizing transparency and ensuring all colleagues have learning opportunities and hands-on experiences with AI technologies. The people leader shares that following a global AI learning day and a subsequent hackathon, many employees found generative AI more accessible and exciting.
“Gen AI is more accessible than any other tech innovation in the last few decades,” says Vuicic. She notes that the low cost and widespread availability of generative AI tools have contributed to its high adoption rate, both in the personal and professional lives of employees in her organization and those who responded to the survey.
Grassroots AI adoption
According to the report, Gen Z are fast adopters of AI, while older generations tend to be more reticent. This is important for people leaders to realize as transformation plans are considered. Vuicic stresses the importance of meeting employees where they are and being transparent that tasks—not jobs or people—are being automated by AI. Human work, as she describes it, could potentially be augmented by artificial intelligence, but at her firm, it’s been communicated that augmentation doesn’t equal replacement.
Vuicic highlights the importance of grassroots efforts in AI strategy, saying “We don’t want this to come from the top down.” To create balance, Thomson Reuters has identified 250 “AI champions” across various global locations and organizational levels.
These champions are passionate about new tech, have experimented with new tools and recognize the critical importance of adopting AI at work.
The champions fit into Thomson Reuters’ stratified AI adoption plan that involves people around the globe and in all functions and levels of the organization. Vuicic describes the company’s strategy as being in its early stages but already showing a clear structure:
Enterprise strategy: Led by Vuicic and her C-suite counterpart from the technology department
AI champions: Grassroots activators promoting AI use
Integrators: Individuals who understand technology and workflow processes, bridging tech and project execution
Reskillers: Team members involved in projects where AI automates or augments tasks
Putting AI to work
In the Thomson Reuters human resources department specifically, AI has been employed to automate simple responses to workforce requests, leading to higher adoption rates, increased self-service and more time for HR professionals to conduct strategic work. Other use cases include summarizing documents, comparing documents, idea generation and drafting communications.
Vuicic emphasizes that the benefits of AI are realized through human use of the technology, not the technology itself. She highlights the need for a mindset of continuous learning and AQ—adaptability quotient—as the most critical capabilities to keep pace with change. Following this, reskilling and upskilling will be role-specific.
Thomson Reuters employees are motivated to pick up new skills, says Vuicic. She finds that many colleagues share that they are inclined to stay in workforces where they can develop their capabilities relating to AI and the future of work.
Reflecting on recent challenges like the pandemic and the Great Resignation, Vuicic calls them a “warm-up” for human resource leaders. “Now is our moment,” she says. “The world of work has changed, and HR has a phenomenal opportunity.”
Recommended AI adoption actions for people leaders
Vuicic explains that the report suggests several actions for people leaders. These include:
- Create a culture that emphasizes change and fosters innovation and experimentation.
- Identify necessary skill sets and provide appropriate training.
- Adapt talent strategies to the new skills approach.
- Delegate tasks that can be augmented by AI.
- Ensure responsible AI use with a focus on security and transparency.
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