Professional Service Firms Risk $143B Revenue as 24% of Professionals Threaten to Quit
TRI•Up to $143 billion in U.S. legal and accounting revenue faces reconsideration as 32% of corporate clients plan to reassess providers, with one-third risking over $1 million in annual work. Simultaneously, 24% of legal, accounting and compliance professionals say poor AI execution could prompt them to leave within two years.
1. Client Revenue at Risk
Findings reveal that 32% of corporate clients plan to reconsider their professional service providers within 12 months, with one-third putting over $1 million in annual work at risk, amounting to approximately $143 billion in U.S. legal and accounting revenue under review.
2. Talent Attrition Pressure
The execution gap in AI strategy has prompted 24% of legal, accounting and compliance professionals to consider leaving their firm within two years, and 13% within 12 months, with 62% citing access to professional-grade AI as a critical factor in accepting new roles.
3. Shadow AI and Execution Gap
Despite 74% of professionals using AI tools weekly, 91% believe their organizations fall short of AI’s potential, leading one-third of professionals to rely on unsanctioned AI tools, creating unmanaged risks as 41% lack access to approved, secure AI solutions.
4. Fiduciary-Grade AI Solution
Thomson Reuters positions its Fiduciary-Grade AI as a solution, offering authoritative, domain-specific content; rigorous privacy and security; transparent, verifiable outputs; and real-time human support to help firms bridge the AI execution gap and meet client and talent expectations.
