Absolutely—thank you for the correction. Here’s the final version of the blog post with the correct author attribution throughout: Ethan Batraski, not Ethan James Brown.
The Great Legacy Extinction: What AI Means for Accountants, Lawyers and Insolvency Practitioners
The Problem: A Profession at Risk of Fossilisation
For years, the accountancy, legal and insolvency professions have been pillars of trust, reliability and—let’s be honest—tradition. But tradition can sometimes become a trap. The world is moving faster. Clients are demanding more. Costs are rising. Yet many professional service firms are still relying on workflows and structures that haven’t changed much since the dawn of the word processor.
As Ethan Batraski sets the scene:
“From elite law firms and accounting powerhouses to insurance conglomerates and management consulting dynasties, the professional services industry represents a staggering $20 trillion global market.”
And yet:
“This massive sector remains dominated by human-driven, low-tech businesses where titans have built their brands on historical reputation and prestige rather than measurable performance. They operate on centuries-old business models, relying on armies of highly paid professionals working through labor-intensive processes that have barely evolved since the typewriter gave way to the word processor.”
But times are changing. As Batraski observes:
“A new wave of AI-native professional service firms is emerging, promising to resegment this $20T industry and relegate the legacy guard to history.”
And then, with a surgeon’s precision, he explains why:
“While many focus on AI making existing software more efficient, the true revolution is happening as AI pushes directly into domains previously exclusive to human experts: strategic negotiations, creative problem-solving, and high-stakes decisions. These critical domains have remained stubbornly resistant to software automation until now.”
Legacy Professional Services
Here’s how Batraski describes the traditional firms most of us still recognise:
Legacy Professional Services
- Labour-intensive service delivery
- Billable hours and high overhead
- Prestige-based branding
- Decentralised human expertise
- Poor knowledge management
- Limited performance data
- Sluggish innovation cycles
- Inaccessible to the mass market
Do these resound with you?
Elite AI-Driven Professional Services
And here’s what the future looks like:
Elite AI-Driven Professional Services
- Automation-first delivery models
- Subscription and value-based pricing
- Performance-based branding
- Centralised AI expertise
- Robust knowledge capture and reuse
- Measurable client outcomes
- Rapid innovation cycles
- Accessible to global markets
It’s a compelling vision. And it’s already starting to happen.
The Traditional Fixes (and Their Limits)
The old model was simple: pile in the hours, charge by the hour, hire more people to grow. Investment in systems was slow, and automation? Mostly limited to payroll and the photocopier.
Efforts to modernise were often fragmented. You might have adopted a document management system here, dabbled with client portals there. But for many firms, the real work—analysis, strategy, drafting, decision-making—remains painfully manual.
Insolvency practitioners still type meeting minutes. Lawyers still sift through pages of precedents. Accountants still copy and paste from Excel into Word. Sound familiar?
Enter AI—Including VAi
The arrival of generative AI changes the game entirely. We’re not talking about automating admin. We’re talking about a fundamental reimagining of how professional services are delivered.
In the hands of an experienced practitioner, AI can:
- Draft detailed, personalised letters and legal notices in seconds
- Analyse vast financial datasets for anomalies and insights
- Prepare meeting agendas, file notes, reports and client briefings automatically
- Spot inconsistencies, compliance risks or case milestones before you do
This isn’t theoretical. Tools like VAi, my own AI solution tailored for insolvency and related professions, are already helping firms get work done faster, more accurately and more creatively. VAi doesn’t replace your judgement—it makes it easier for you to apply it.
It’s not magic. It’s not perfect. And it’s certainly not a reason to sack your staff. But it does mean you can stop spending billable hours wrestling with formatting and start focusing on adding value to your clients.
The Call to Action: Change or Be Changed
Ethan Batraski talks about “legacy extinction”—a phrase that should make anyone in professional services sit up straight. Because if we don’t evolve, we don’t survive.
There is, however, another path: adapt, experiment, learn and lead.
We don’t need to throw out everything that’s worked. We just need to stop assuming it will keep working in a world where clients are already asking ChatGPT their first five questions before they ever call you.
If you want to be part of the future, not a footnote in someone else’s case study, now’s the time to explore what generative AI can do in your practice.
Ready to evolve?
Whether you’re in accountancy, law or insolvency, VAi can help you test and trial AI in a safe, controlled and profitable way. You don’t have to jump off a cliff—just take a small step.
Call Paul Brindley on 07813 102014 or email paul@vaisolutions.co.uk to arrange a quick demo or just a no-pressure chat about what’s possible.
Remember: the dinosaurs didn’t have a choice. You do.
