Apollo Global Management warns that professional service industries such as law firms and consulting companies will face disruption from AI.

Apollo Global Management co-president Scott Kleinman said that the professional services industry, including law firms, accounting firms, and consulting companies, is likely the next sector to face disruption from artificial intelligence. Investors have previously focused on concerns in the software industry and to what extent AI will disrupt these companies. But Kleinman said on Wednesday at a panel discussion at the SuperReturn conference in Berlin that looking ahead, acquiring companies should focus on investments in the professional services sector. "I apologize to the lawyers, accountants, and consultants in the audience, but I do think that will be an area under significant pressure," Kleinman said.