Professional services organizations have rushed to adopt generative AI (GenAI), but now it’s time for the next step — integrating it into their business plans. Today’s podcast follows up on a recent Thomson Reuters Institute report on GenAI in professional services and speaks with Thomson Reuters chief product officer David Wong, who discusses why 2025 may be the year of AI in tax, the barriers holding professional services back from greater adoption, and how to get from the early innings of GenAI to a more fully developed plan.

Robert J. Leo, a partner at Meeks, Sheppard, Leo & Pillsbury, and Karen Lobdell, a Senior Manager at Thomson Reuters, join Thomson Reuters Institute Senior Industry Analyst Bryce Engelland on the podcast to discuss the current volatility around tariffs amid a rapidly evolving global trade landscape.

Jim Shoemaker, Chief Legal Operations Officer of Miles & Stockbridge, joins the podcast to discuss how law firms can find a quick and meaningful return on their investment in AI by targeting hours that would otherwise end up being written down and never billed to clients at all. Shoemaker discusses how these written-down hours become a hidden tax on law firms and makes a compelling case that these hours can be the first targets for firms’ AI efforts, potentially boosting firm revenue and profits while avoiding the loss of revenue that many lawyers fear AI adoption might bring.

The views, opinions, and positions expressed by the speakers are theirs alone and do not necessarily reflect the views, opinions, or positions of Miles & Stockbridge.