Emerging Impacts of AI on Turnaround Professionals
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October 24, 2024
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This article from the TMA Journal of Corporate Renewal was first published on October 1, 2024. The entire publication is available at: https://www.tmajcr.org/journalofcorporaterenewal/october_2024/MobilePagedArticle.action?articleId=2012022&app=false#articleId2012022.
AI tools are poised to revolutionize the restructuring sector, automating routine tasks and enhancing data analysis capabilities historically performed by junior professionals (loosely defined as those with less than seven years of experience). Traditionally, these professionals have spent significant time on tedious, labor-intensive tasks, such as document review, data collection and extraction, general diligence, data entry and preliminary first-pass analysis.
In this Journal of Corporate Renewal article, James Goodyear and Molly Jobe discuss how AI advancements have the potential to bring both fresh opportunities and significant challenges to junior restructuring professionals. On the one hand, AI will likely advance their ability to focus on more strategic activities and enhance career prospects. On the other hand, AI will also create challenges by reducing billable hours and requiring new skills and competencies.
Reprinted with permission from the TMA Journal of Corporate Renewal, Vol. 37, No. 8, October 2024.
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