A new Future of Professionals Report from Thomson Reuters shows artificial intelligence is quickly affecting how legal, tax, fraud, and compliance experts work, thus unlocking billions in productivity gains and reshaping traditional service models.
Massive Productivity and Economic Impact
The financial implications are striking. Respondents expect AI to save an average of 240 hours per person annually, equivalent to roughly $19,000 in time savings per professional.Â
For the U.S. legal and tax sectors alone, that adds up to an estimated $32 billion in potential economic impact each year.
Strong Momentum and Measurable ROI
According to the survey, 96% of professionals are aware of AI’s capabilities, yet 71% admit they don’t fully understand how to apply it in daily practice. Still, expectations are high: most anticipate clear productivity benefits within the next year.
Momentum is already visible inside firms. About one-third of professionals say their workflows have changed because of AI tools, and another quarter expect similar transformations in the coming 12 months.Â
Over half of professional organizations report measurable returns on AI investments, driven primarily by cost and time savings — but also by improvements in accuracy, client satisfaction, and talent retention.
Evolving Service Models and Pricing Structures
AI is also altering the business model of professional services. Roughly 26% of firms have introduced new advisory or consulting offerings in the past year, shifting from traditional transactional work toward strategic, insight-driven partnerships.Â
Billing practices are evolving too, with one-third of firms increasing non-hourly fee structures and one-quarter of in-house teams choosing external partners that offer more flexible pricing.
The Next Frontier Agentic AI
The report points to the next frontier: agentic AI, systems capable of autonomously managing multistep workflows rather than simply generating responses. This technology could further accelerate complex processes, improve quality, and extend professionals’ capacity for higher-value tasks.
