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Only 19% of professionals surveyed by Thomas Reuters say their organizations provide training in Generative AI (Gen AI), revealing a pressing need for leaders to implement official policies and strategies on the advancing technology — or risk losing out on the talent race.
The data shows professionals in legal, risk, and government sectors must develop AI competencies to remain competitive and efficient in their roles. However, those receiving Gen AI-related training varied depending on the department in which they work.
“Respondents from corporate risk departments (38%) and corporate legal departments (25%) reported the highest proportion of GenAI training for staff, while less than 20% of law firm and tax firm respondents said they had received Gen AI training,” according to the report.
More than half of surveyed professionals in legal (58%) and corporate tax (56%) say their firm should be using Gen AI. This sentiment is shared with 44% of court systems and 40% of legal departments.
Thomas Reuters reports that the slow adoption and lack of provided training is attributed to several factors including uncertainties around AI’s accuracy, data security, and the availability of resources (time and money) — not to mention the lack of experts needed to conduct effective training.
As new job roles like AI Implementation Coordinator and IT Support emerge, professionals who invest in GenAI training will inevitably stand out. Experts suggest that preparing for these roles requires continuous learning and staying updated on the latest advancements in GenAI technologies.
For instance, legal professionals can improve their efficiency by using AI for legal research, document review, and contract drafting. Meanwhile, risk professionals can benefit from improved AI-driven risk assessment and fraud detection capabilities.
Establishing clear policies for AI use can also help overcome resistance to technological change. However, 66% of all firms surveyed report not having any policy guiding the use of GenAI at work.
Reuters’ experts suggest collaborating with tech companies to provide insights and resources for successfully adopting GenAI. It could also help in creating solutions custom tailored to specific professional needs.
As new technologies rapidly develop, the ability for firms to integrate and effectively take advantage of these new tools will become a competitive factor. Firms that invest in Gen AI training will likely attract and retain top talent.
