AI Opportunity Report 2018: Professional Services Industry Deep Dive
The Professional, Scientific and Technical Services industry, at $2.1 trillion in GDP, is a significant piece of the United States’ $20 trillion economy. Its workforce is highly paid ($80,000 median annual salary versus $57,000 for the average U.S. worker) and knowledge-intensive. It ranks near the top of all NAICS codes for both breadth and depth of AI adoption.
This document, AI Opportunity Report 2018: Professional Services Deep Dive focuses on AI penetration and expected investment by Professional Services subsector, drilling down to the types of AI being deployed commercially and the degree to which workers are presently exposed to the AI that is available. Subsectors explored include: Accounting Services, Advertising/Marketing or PR Services, Engineering Services, IT Consulting and Services, Legal Services, and Management or Technical Consulting Services.
The primary source for this report is Optimized Workforce’s “2018 AI Preparedness Survey” – a primary research effort that collected data from roughly 10,000 U.S. workers. The survey sheds some light on AI penetration rates across industries and job functions, the different types of AI technologies workers are using or preparing to invest in in 2019, and the readiness of workers to function in tandem with AI. Additionally, this report takes a task-based approach to quantify the efficiencies AI can bring to the subsectors of the Professional Services industry and the dollar-value of these efficiencies.
Key findings include:
- More than 40% of U.S. Professional Services workers are engaging with some form of AI today.
- Document classification and document creation technologies lead AI adoption.
- The IT Consulting and Services subsector is the most aggressive with AI deployment.
- AI vendors could bring nearly $88 billion in efficiency to the Professional Services industry this year (roughly 12.6% of payroll).
Use this data for: Future of Work Planning, Talent Strategy, Industry Benchmarking, AI Vendor Forecasts
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