Only 48% of accounting, consulting, legal, and private capital professionals have used AI tools at work despite near-universal demand for the technology
09 Avril 2024 - 3:00PM
Knowledge workers across accounting, consulting, private capital,
and law are eager to leverage AI technology to automate manual
tasks, work more efficiently, and derive greater career
satisfaction. Firms have incentive to equip their professionals
with the AI tools and training necessary to increase their
productivity, help them achieve performance goals, and ensure their
retention. These findings and more are revealed in the 2024
Technology Perceptions study released today by Intapp (NASDAQ:
INTA), a leading global provider of AI-powered solutions for
professionals in advisory, legal, and capital markets firms.
The survey of more than 800 fee earners in the U.S. and U.K. was
designed and executed to help inform and support Intapp’s
Intelligence Applied strategy. Its purpose is to provide insight
into how professionals believe AI will enhance their work
performance, and what AI technologies are most needed to help firms
remain competitive. The results showed that less than half (45%) of
survey respondents rate their firms as highly tech-savvy. And while
91% expressed a desire to use AI in their day-to-day work, only 48%
currently leverage the technology.
“Professionals take technology into consideration when deciding
which firm is right for them, expecting at least the level of
AI-enabled technology they use in their personal lives,” said Ben
Harrison, President of Industries at Intapp. “They know AI and
other advanced technologies have the power to transform business
operations and create a competitive edge, and they expect it to
help them improve collaboration, automate tasks, and support
knowledge management on a daily basis.”
Growing interest in AIMany professionals have
already seen the benefits of advanced tools in their own personal
lives.
- 77% of survey respondents agreed that technology makes them
more productive in their personal lives
- 59% responded that they already use AI technologies in their
personal lives, including voice queries, data entry, data
summarization, document generation, and recommendations (such as
when to schedule an appointment)
Naturally, many professionals want to use AI technology in the
workplace, like they do at home. This is especially true for
assisting them with data entry and content generation:
- 79% say they want to use AI for data-entry tasks such as
pulling CRM and contact information from emails
- 76% express interest in AI data summarization, such as
automatically creating minutes or action items from a meeting
transcript
- 73% would like to use AI for document generation, such as
drafting standard contracts, proposals, or investor
notifications
AI, automation, and integration optimismThe
survey reveals that most professionals are optimistic about the
benefits of AI — both to themselves as professionals and to their
firms in general.
- 61% believe AI will allow them to focus on delivering
higher-level work for clients
- 59% think that AI will make their firm more competitive
- 53% expect AI to improve their work/life balance
One of the most anticipated benefits of AI technology is the
automation of time-consuming administrative work that takes
professionals away from conducting projects, preparing for and
attending meetings, and communicating with clients.
- Professionals estimate that nearly 40% of their work is
comprised of manual tasks that could be automated
- By automating manual tasks via AI-powered solutions,
respondents believe they can save an average of 25 hours a
week
Higher employee performance, retention, and
satisfaction “Firm leadership may be surprised to learn
just how much of an impact technology has on employee satisfaction
and retention rates,” said Harrison. “Yet the survey response
connects a lack of effective technology with the risk of losing
talent.”
The satisfaction and retention rates at high-tech firms were
much higher than those at moderate- and low-tech firms.
- 81% of respondents from high-tech firms stated they were highly
satisfied at their job vs. 50% at moderate- and low-tech firms
- 77% were highly likely to recommend their firm as a place to
work vs. 49% at moderate- and low-tech firms
- 80% said they were highly likely to stay at their firm for at
least the next two years vs. 56% at moderate- and low-tech
firms
This significant gap may stem from how supported professionals
feel at their firms in terms of achieving goals. At high-tech
firms, most organizational and personal career goals had very high
success rates.
- 80% felt successful in developing expertise in the field vs.
49% at moderate- and low-tech firms
- 76% felt successful in developing deep client relationships and
working efficiently vs. 40% at moderate- and low-tech firms
- 75% felt successful at creating strong value/better outcomes
for clients vs. 47% at moderate- and low-tech firms
- 75% felt successful at developing skills not taught in school
vs. 44% at moderate- and low-tech firms
- 69% felt successful at both increasing their personal income
and getting promoted vs. 39% and 40% respectively at moderate- and
low-tech firms
To learn more, see the full survey results and read the research
report here: intapp.com/2024-tech-perceptions-survey/.
About the studyThe Intapp survey was conducted
by Rockbridge Research among 800 fee earners in the U.S. and U.K.
across four verticals: accounting, consulting, capital markets
(investment banking and private equity), and legal. Results were
collected between September 25 and October 6, 2023 using an email
invitation and online survey. Quotas were set to ensure
representative and statistically significant numbers across the
four verticals and geographic locations. The margin of error for
results is +/- 3.2 in total at the 95% confidence level.
About IntappIntapp helps professionals unlock
their teams’ knowledge, relationships, and operational insights to
increase value for their firms. Using the power of Applied AI, we
make firm and market intelligence easy to find, understand, and
use. With Intapp, professionals can apply their collective
expertise to make smarter decisions, manage risk, and increase
competitive advantage. The world's top firms — across accounting,
consulting, investment banking, legal, private capital, and real
assets — trust Intapp’s industry-specific solutions to drive new
growth and multiply opportunity. For more information,
visit intapp.com and connect with us on X, formerly Twitter
(@intapp) and LinkedIn.
Intapp Ali Robinson Global Media Relations
Director, Intapppress@intapp.com
Intapp (NASDAQ:INTA)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Intapp (NASDAQ:INTA)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024