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AI Will Replace Jobs, But What About Demand For Professional Services?

When artificial intelligence is mentioned in discussion, the narrative frequently centers on one key concern: the potential for AI to replace jobs. This concern, spurred by the rapid advancement of automation and machine learning technology is completely reasonable, particularly in light of headlines incessantly warning about machines replacing humans, portending a dismal future for job security in numerous areas. However, there is another important part of the AI revolution that is generally overlooked – as AI becomes more accessible and user-friendly, it threatens not only jobs but also the way we use professional services. What happens when consumers can rely on AI to complete activities that previously required a human expert?

Shifting paradigms: AI as a Consumer Tool.

AI is becoming more than just a tool for large corporations or technologically savvy individuals. It is becoming a tool that anyone can use (given the minimum resources), which provides capabilities that were previously limited to professionals. For example, modern graphic design software backed by AI enables even the most creatively constrained person to produce professional-quality images. The tools that were once accessible only to those with years of training and experience are no longer serving as barriers, providing consumers with immediate access to resources and information.

Consider legal services as another example. Already, AI platforms that can perform simple jobs such as contract evaluations and legal document generation, are emerging. While they cannot replace the knowledge of an experienced lawyer, they do present an economical and efficient alternative for individuals, small businesses or others that are unable to access legal services. This trend toward democratization of knowledge is emerging in a variety of domains, including tax preparation and healthcare diagnostics, where AI is beginning to provide solutions that were previously only available to specialists.

A New Relationship With Professionals

As AI becomes more integrated into everyday operations, the relationship between consumers and professional services will undoubtedly change. This change is expected to result in a decline in demand for routine, transactional services. For example, consumers may begin to use AI tools for early consultations or basic services, resorting to human specialists only when dealing with more sophisticated or nuanced issues that necessitate particular expertise.

Consumers may begin to use AI tools for early consultations or basic services

The professional’s job will need to change in response. Lawyers, for example, might spend less time creating standard form contracts and more time providing strategic advice based on their specific experience and legal knowledge. Doctors might rely on AI for reliable diagnostic help, allowing them to concentrate on patient care and complex medical choices that require human intervention. As basic processes become automated, professionals may find themselves in more specialized areas requiring creativity, critical thinking, and interpersonal skills.

Changing Consumer Expectations.

In a future where AI can provide speedy, dependable solutions, consumer expectations are bound to shift. Speed and efficiency are becoming increasingly vital to the modern consumer, who has become accustomed to quick responses and 24-hour availability. Traditional service models cannot match these demands as well as AI. For example, AI-powered tax software can provide real-time guidance, whereas scheduling an appointment with a human accountant may take days or weeks. This trend may encourage professionals to use AI tools not only to improve their services, but also to meet their clients’ changing expectations.

Another important factor influencing this transformation is cost. AI-based solutions are generally less expensive than human services. As these tools become more advanced and dependable, users may want to use them to save money, resorting to human professionals only when AI is unable to perform the work at hand. AI’s cost-effectiveness makes it particularly enticing to small firms and individuals who may not be able to cough up funds required for full-fledged professional services.

Picture by: Steph Meade

Ethical and Quality Concerns

While the potential for AI to transform our interactions with professional services is intriguing, it raises serious ethical and quality concerns. One key concern is that AI does not have the ability to offer human-level compassion, creativity, and insight, yet. Although AI can analyze massive quantities of data and make pattern-based conclusions, it lacks the human touch and nuanced understanding that comes with years of experience. In this regard, consumers may be missing out on the kind of service that only an experienced professional can provide.

Another issue is the dependability of AI. It is vital to ensure that AI tools are neutral and devoid of errors, especially when they are employed for sensitive activities such as legal advice or medical diagnostics. The possibility of AI making mistakes or becoming biased is not only a technological challenge, but also an ethical one. In conventional professional partnerships, accountability is clear: if something goes wrong, the professional bears responsibility. However, with AI, the lines of accountability become blurred, putting consumers in the dark when mistakes happen. This absence of unambiguous responsibility may present substantial legal and ethical difficulties in the future.

The New Normal

The discourse about AI has long focused on job displacement, but the impact of AI on professional services is just as significant. As AI tools advance and become more publicly available, demand for traditional professional services may shrink. This transformation is not necessarily a bad thing; it allows professionals to rethink their roles, focusing on areas where human skill is invaluable.

Professionals that can adapt to the changing terrain by incorporating AI into their profession will most likely succeed. For example, a lawyer who employs AI to conduct routine contract evaluations might devote more time to strategic advice, thereby adding value to their clientele. Similarly, a doctor who employs AI for diagnosis can focus more on patient care. The idea is to perceive AI as a tool for improving service quality rather than a threat.

How is This Dynamic Likely Going to Play Out?

AI is affecting more than just the labour market; it is also changing our relationship with professional services. As consumers, we are becoming more capable of handling tasks that previously required specialist knowledge on our own. However, with this empowerment comes the duty to strike a balance between convenience and quality, efficiency and ethics. Consumers should be encouraged to experiment with AI technologies while being aware of their limitations, and seek human assistance as needed.

The future of professional services is likely to be a hybrid model, with AI doing regular tasks and human experts taking on more sophisticated and complex circumstances.

For professionals, the challenge is to embrace AI while retaining the personal nuance and profound insight that only human experience can offer. The future of professional services is likely to be a hybrid model, with AI doing regular tasks and human experts taking on more sophisticated and complex circumstances. By adapting to these developments, both consumers and professionals may succeed in an increasingly AI-driven society.

Finally, AI will revolutionize how we utilize and value professional services, rather than simply taking over jobs. As we manage this shift, we should prioritize collaboration between humans and AI, ensuring that both sides’ skills are leveraged to offer the greatest possible outcomes for everyone.

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Nicola Taljaard Lawyer
Lawyer - Associate in the competition (antitrust) department of Bowmans, a specialist African law firm with a global network. She has experience in competition and white collar crime law in several African jurisdictions, including merger control, prohibited practices, competition litigation, corporate leniency applications and asset recovery. * The views expressed by Nicola belong to her and not Bowmans, it’s affiliates or employees

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