Law firm must evolve if they want to stay ahead in an increasingly competitive environment where
clients want more for less. More than ever, firms need to leverage a combination of new technologies, new processes, and new people to reimagine the delivery of legal services for the next decade and beyond.
- Law is business
Law Firms can no longer trade solely on their legal expertise, they must also be business -focused-both
in how they run their own practices and how they address the needs of their clients. Internally, firms must
look at how they deliver their services, becoming interdisciplinary, collaborative, and strategic rather
than insular, protective, and reactionary. In response to changing demands, firms must also provide
greater efficiency, cost, savings, and transparency to their clients.
- Collaboration is key to innovation
As firms embrace new avenues of cross-disciplinary practice, collaboration is an essential ingredient for
success. Many firms are creating entirely new departments focused on improving and streamlining the
client experience. In my experience, I have experience soloing my career as Managing Partner and
collaborating on new ideas also approaching me and bringing me to make together people from different
teams can yield unexpected and positive outcomes.
- Technology is not a threat
While automation and AI have the potential to save lawyers significant time and money, they cannot
solve legal problems alone, provide legal advice or replace humans in skilled legal work. Rather,
technology frees lawyers from Low Value, repetitive, and relatively unskilled tasks, allowing them to
focus on the strategic, meaningful activity that adds value to their clients.
- New roles within firms are rising in Importance
In the competitive climate, where the practice and the business of law assume equal prominence, the
business skills of non-lawyer have risen in importance, new disciplines have emerged, adding value to law firms offering and clients. These rules have risen in influence and authority to help optimize firms’ operations and bring in new business. Firms must find ways to integrate these new professionals into
their organizations, giving them seats at the top table and convincing partners to relinquish some of the
control that has traditionally defined their profession.
- The hype around disruptive technology is detracting from its potential
Artificial Intelligence (AI) Automation and the cloud have suffered as a result of excessive hype, which
has led to unrealistic expectations and subsequent disappointment. Law firms are beginning to consider
these technologies through a pragmatic lens, giving them a more conservative, but realistic, view of the
benefits. The recognition that these technologies will augment lawyers rather than replace them.