Julian Taylor, Senior Partner at Simmons & Simmons, emphasised three key themes for the legal market in his New Year’s communication.
1. Impact of Legal AI: AI is expected to disrupt traditional pricing models in the legal industry, encouraging firms to move away from time-based billing and explore alternative approaches that better reflect the value of services.
2. Reskilling and Upskilling: By 2025, lawyers will be more focused on enhancing their skills, focusing on digital tools and AI understanding becoming essential across all experience levels. This trend aims to attract diverse talent and foster innovation within the legal field.
3. Societal Value Delivery: Emphasizing societal value through technological disruption and new operational models can lead to a cultural transformation in the industry. This shift can enhance access to legal services, especially for marginalised communities, and encourage pro-bono work, creating a meaningful positive change.
Source: Artificial Lawyer
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