AI is having a significant impact on the roles of junior employees at major consulting and law firms, allowing them to take on more advanced tasks and progress through the ranks more quickly. Recent college graduates are now handling responsibilities that were previously reserved for more experienced staff members, thanks to AI's ability to streamline repetitive tasks. At firms like KPMG and PwC, junior employees are using the time they would have spent on mundane tasks to engage in more meaningful work such as pitching to clients.
Traditionally, it takes junior workers at these firms at least a decade to reach the partner level. However, AI is accelerating this trajectory by freeing them from repetitive work and enabling them to focus on developing their skills and tackling more challenging assignments. While the elimination of menial tasks is beneficial, it could potentially affect highly skilled workers, as the use of AI might make it possible for companies to achieve more with less skilled labor, potentially reducing the competitive advantage of highly skilled workers.
Studies indicate that AI can assist with tasks such as writing, coding, and consulting, making it easier for individuals without these specialized skills to access higher-paying positions. This may ultimately contribute to a reduction in the pay gap between workers of varying skill levels.