A new survey of more than 2,200 professionals working across legal, tax, and risk and compliance fields globally predicts generative AI has the potential to free up 12 hours per week within the next five years, with four hours per week saved in the next year alone.

That, according to Thomson Reuters’ recently released 2024 Future of Professionals report, is the  equivalent of adding an additional colleague for every 10 team members. For a U.S. lawyer, the survey says, this could translate to an additional $100,000 in billable hours.

The survey also found:

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