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New report calls for professional services to prepare for AI transformation

October 12, 2017 Business News No Comments Email Email

Artificial intelligence (AI) is expected to cause organisational restructuring amongst firms in the professional services, according to the newest report from global HR think-tank Reventure.

The Industry Insights report finds organisations in the legal, accounting, management and engineering services are just some of the sectors that will be impacted by increased AI presence.

Lead researcher at Reventure, Dr Lindsay McMillan said AI would likely start by replacing entry level work in the professional services, however millennials will not be the only ones affected.

“The current pyramid structure of organisations is likely to face disruption because AI will begin taking over the repetitive, mundane tasks from everyone’s job,” he said.

“There will also be changes to what organisations in the professional services look for in candidates and technological aptitude will be high on that list.”

Dr McMillan said despite the inevitable technological changes, purpose and meaning remained the most pressing issue for workplaces.

A Reventure survey of 1,001 workers found office workplaces had the lowest rates of workers who say their job has purpose and meaning.

“It is a great detriment for both organisation and employee if a worker thinks their job has no purpose or meaning, and it is up to business leaders to address the issue,” he said.

“It is also likely that if employees don’t have purpose and meaning in their work, the AI revolution will impact them the hardest.

“But many of the jobs thought of as unimportant in professional services have an important function in the organisational machine, leaders simply have to communicate that importance.

“Sometimes it can be as easy as making the connection to an employee with their everyday tasks and how it contributes to the overall goals of the organisation.”

The latest report from global HR think-tank Reventure, Industry Insights has conducted research into the challenges that are being faced by five industries and how they can be addressed.

*Industry Insights report attached.

a future that works is a national workplace renewal campaign launched by global HR think-tank Reventure after research found 49% of Australian workers were likely to look for a new job in the next year. This campaign is aimed at highlighting effective and practical solutions so that workplaces can more actively engage with modern challenges.

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