AI adoption transforms mortgage and legal professional services

Artificial intelligence is driving significant shifts across the financial and legal sectors. In the U.S. mortgage market, a survey by Lower reveals that 49.2% of consumers are comfortable with AI approving or denying mortgage applications. While majorities support AI for recommending loan amounts (67.3%) and determining qualifications (64.7%), most consumers still prefer a human to make the final decision. However, a joint survey by the American Association of Residential Mortgage Regulators, the Mortgage Bankers Association, and Boston Consulting Group notes that while AI adoption is growing, it remains concentrated in productivity tasks like document summarization rather than full-scale process automation.

In the legal sector, the industry is transitioning from generative AI to 'agentic AI'—systems capable of executing complex workflows autonomously. In Spain, legal management forums highlight how companies are increasingly spending on 'legaltech' budgets, challenging traditional hourly billing models. Meanwhile, in Chile, the Colegio de Abogados de Chile and Travesía100 have launched the 'TrayectorIA' program to train legal professionals over age 60 in AI tools, aiming to bridge the digital divide. Globally, legal experts emphasize that while AI can assist with research and drafting, human oversight remains essential to maintain professional responsibility and legal judgment.