#233 Generative AI at EY with John Thompson, Head of AI at EY
DataFramed
Transforming Professional Services Through Generative AI
The advent of generative AI dramatically enhances productivity in professional services, transitioning report writing and code generation from an unfeasible timeframe to mere minutes. This revolution prompts corporations to rethink their approach to reporting and presentations. Many industry experts predict that firms, including prominent names like EY, PwC, and McKinsey, will undergo significant transformations, with discussions around a possible headcount reduction of 90% being debated. Despite some views being overly aggressive, notable headcount reductions are expected. Empirical testing demonstrates a substantial improvement in efficiency, showing a 30% initial enhancement in generating reliable content, which can increase to 60-90% with iterative refinements. The future of work raises essential questions and stimulates ongoing debate within the economy as organizations adapt to these technological advancements.
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