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NextGen Magazine


AI Saves Time and Money, Accelerating the Path to Partnership at Firms

S.J. Steinhardt
Published Date:
Dec 6, 2023

Making partner at a consulting or law firm can take years, but artificial intelligence (AI) may reduce the number of years that it takes to attain that level, Bloomberg reported.

The partnership track typically takes about a decade, as younger workers work their way up the ranks, but some firms are using AI to eliminate some of the repetitive, time-consuming tasks undertaken by junior employees.

Recent graduates at KPMG are now doing tax work that had been done by staff with at least three years of experience, while junior staffers at PwC are spending more hours pitching clients than preparing documents. Junior lawyers at Macfarlanes LLP are handling contracts once interpreted by more experienced colleagues.

“It’s a real balance because there is a great deal of benefit for learning by doing some of these documents, but do you need to do that for two years?” Jeff Westcott, global director of innovation and practice technology at law firm Bryan Cave Leighton Paisner, told Bloomberg. “Probably not. Once you’ve done it three or four times, you’re comfortable.”

In addition to fast-tracking the route to a lucrative partnership, AI can save time and money. KPMG believes that AI can save as much as 15 hours per worker every month with the help of AI, Stuart Tait, chief technology officer at the firm’s tax and legal arm in the UK, told Bloomberg.

“For many of us, we started our careers doing the necessary but often tedious work in support of senior professionals,” Bret Greenstein, generative AI leader at PwC, told Bloomberg. “A lot of this work — writing drafts, taking meeting minutes, researching topics — is greatly aided by GenAI today. This allows junior employees to be more productive and impactful much quicker.”