In just a few short years, artificial intelligence has weasled its way into just about every industry on planet Earth. Directors and managers everywhere have been looking for the best ways to integrate it into their strategies to increase the efficiency of workflows and save costs.
Now, we’re well past the point where it’s viewed as innovative and experimental, to the point that for most, it’s just become another mundane aspect of everyday life. In the UK’s professional services industry, AI has been widely adopted to automate certain tasks, help formulate creative ideas and concepts, and analyse boatloads of data. Here’s how different industries have been putting it to good use.
Accountancy
You can probably imagine that AI has plenty of uses in accountancy that might seem obvious, like automating expense claims. But there’s more to it than that. Now, plenty of firms are using machine learning tools to scan thousands of transactions in mere seconds; on top of that, it can identify and flag anomalies and recognise patterns that it might otherwise take a team of people months to notice.
Furthermore, it’s become increasingly popular for senior teams to use predictive analytics tools to generate strategic insights that support firms to best advise clients on different cash flow scenarios and tax planning.
Law
Within the UK’s legal sector, AI has been carefully adopted within specified areas of practice. That’s because the Solicitors Regulation Authority have intervened to ensure that artificial intelligence doesn’t cross ethical boundaries and impede the principles of fairness and human judgment that our justice system is built upon.
But that isn’t to say that there aren’t areas where AI has moved the sector forward. Law firms at all ends of the legal spectrum have worked to deploy AI wherever they can, whether they specialise in copyright law or managing multiple injury claims.
Litigation teams are using predictive analytics to assess case strategy. This works by drawing on historical judgements of similar cases to provide estimates for timelines and the most likely outcomes. Meanwhile, in corporate law, firms have started to use AI tools to create first drafts of contracts much more quickly, freeing up more time for senior practitioners to focus on negotiating strategies.
Architecture
Now, you might assume that architecture would be less likely to lean into artificial intelligence because of its creative core. But if you did, you’d be wrong. AI-powered software is capable of rapidly generating numerous design variations that are based on a variety of factors, like budget constraints, local planning laws and environmental impact.
What’s more, there are also sustainability modelling tools that can accurately pinpoint a proposed building’s carbon footprint early on in development, so Architects can make adjustments to the materials and/or structure before they even set foot on a construction site.
Final Thoughts
Whether you think it’s overhyped or that we’re barely scratching the surface, one thing is clear: AI is here to stay. Since so many businesses, like PwC in accounting and Bond Turner in the legal space, have embraced the tools on the market and integrated them successfully, there is probably no going back. But so far, we haven’t quite witnessed the AI invasion that many feared. In reality, it’s just another employee in the office.