AI Reshaping the Professional Ecosystem: Where Are Accountants and Lawyers Headed?

Generative AI is rapidly replacing tasks such as legal advice, document review, and accounting assistance, putting fundamental pressure on the professional ecosystem to restructure. While the adoption speed in Korea's professional market is slower than overseas, the already-announced structural changes are showing a contagion effect, becoming visible in employment rates and hiring pathways.

Current Status: The Shockwave Through Data

As of late October, approximately 171 out of 1,250 individuals who passed the 2024 Korean CPA exam had not found a training institution. This indicates that the actual employment rate at accounting firms is around 86%, showing a worsened employment situation compared to the previous year. Behind this figure lies a reduction in hiring scale by large accounting firms.

In overseas leading markets, the speed and scale of change are even clearer. About 47.8% of large U.S. law firms have already adopted generative AI, saving an average of 4-5 hours per lawyer per week. Proficient users experience productivity gains of up to 36.9 hours per month. Consequently, demand for auxiliary tasks such as legal translation and contract review is plummeting, with reported closure rates for related supporting firms ranging from 40% to 90%.

In Korea, a gap exists between perception and reality. While 74.1% of legal professionals recognize the urgency of adopting legal tech, the actual utilization rate is 55.6%. Research by the Korean Institute of Certified Public Accountants points out the AI adoption gap between large and small-to-medium accounting firms, with smaller firms struggling to adopt due to a lack of infrastructure and funds.

Analysis: Two Pillars Crumbling Simultaneously

The impact of AI goes beyond simple task automation, simultaneously threatening the two pillars that have supported the professional workforce ecosystem. One is the entry path for new talent. The decline in the employment rate for newly qualified accountants suggests that reduced demand for auxiliary tasks due to AI is shrinking new hires. The lawyer market is likely to follow a similar path.

The other is the career path for established professionals, particularly the partnership system. Traditionally, lawyers or accountants grew into partners by performing auxiliary tasks for years, learning practical skills, and building a client base. If AI replaces these early-career stage tasks, a structural change occurs where the first rung of the career ladder disappears. While this increases productivity in the short term, it could fundamentally alter the reproduction structure of professional groups in the long run.

Although Korea's AI adoption is slower compared to overseas big firms, this does not mean it can avoid the risk. Rather, the 'contagion effect of ripple effects' observed overseas is predictably progressing. The efficiency gains of large global law and accounting firms create global standards and cost pressures, which are directly transmitted to the Korean market, accelerating hiring reductions and work restructuring.

Practical Application: Strategic Responses for Professionals

Individual professionals must become 'power users' who utilize AI as an assistant to achieve differentiated productivity. As seen in U.S. cases, lawyers proficient in using AI gain 36.9 hours of efficiency per month. This requires more than just mastering a tool; it demands the ability to verify AI-processed results and focus on high-value work involving strategic judgment.

Legal and accounting service firms, especially small and medium-sized ones, need to choose and focus. Investing in AI across all fields may be impossible. Instead, strategies could include selecting specialized areas (e.g., regulatory compliance for a specific industry, tax litigation) for deep AI solution adoption, or conversely, focusing capabilities on high-level relationship management and complex consulting where AI is weak. Considering the adoption difficulties of Korean small and medium-sized firms, cooperative joint adoption or utilizing cloud-based standard solutions could be practical alternatives.

FAQ

Q: Will the professions of accountant and lawyer disappear due to AI? A: There is no evidence that the professions themselves will disappear. However, the composition of tasks and the growth path for new talent are fundamentally changing. Repetitive and standardized auxiliary tasks will significantly decrease, and professionals will be reshaped into roles managing/verifying AI output and handling complex judgment and client counseling.

Q: Which professional field in Korea is adopting AI the fastest? A: According to official statistics, 55.6% of legal professionals are already using legal tech in their work. In accounting, adoption is centered around large accounting firms, with a gap existing compared to small and medium-sized firms. Overall, the legal services field shows a relatively faster adoption trend.

Q: What should new professionals prepare for employment now? A: Digital literacy to skillfully handle AI tools is becoming a basic requirement. More importantly, it is essential to develop abilities in areas difficult for AI to replace: analyzing complex factual relationships, building trust relationships with clients, and resolving ethical dilemmas. Instead of traditional auxiliary task experience, practical training and experience that can demonstrate these high-value capabilities are needed.

Conclusion

AI is not eliminating professional jobs but rather redefining their essence. The speed of change varies by region and scale, but the direction is clear. Individuals must hurriedly design differentiated expertise utilizing AI, and organizations must design workforce pathways and service models suitable for the new ecosystem. A fact-based, sober recognition of reality will be the first step toward effective adaptation.

Aionda

AI Reshapes Professions: The Future of Accountants and Lawyers